NOTES AND COMMENTS.

New Zealand Herald, Volume LXV, Issue 19929, 24 April 1928, Page 10

NOTES AND COMMENTS.

THE FINANCES OF INDIA. Commenting on the introduction, in the Indian Legislative Assembly, of Sir Basil Blackett's sixth and last Budget, the Times remarked that, looking back on the results of the last fivo years he has every reason to congratulate himself on the achievements of his term of offico as Finance Member. On his arrival in India he was faced with a five years' accumulation of revenue deficits from the years 1918 19 to 1922-23. During his administration ho was called upon to deal with the difficult and delicate problem of stabilising the rupee and of inaugurating the currency reforms recommended by the Hilton Young Commission—a gigantic task in the performance of which ho has brilliantly displayed not only financial capacity of a very high order, but a singular combination of political talents. Even if he has unfortunately failed to steer the Reserve Bank Bill safely through the whirlpools of Indian politics, he has done an immense service in educating public opinion in India up to its new inheritance of financial responsibilities. In the realm of pure finance his accomplishments have been memorable. The rupee has been stabilised, and the unproductive public debt enormously reduced, by a solid succession of Budget surpluses. By the end of next year the accumulation of revenue deficits will have been liquidated. Since 1923 the unproductive debt has been diminished by £57,000,000, and (ho productive debt increased by nearly £142,000,000. The outward and visible signs of the effect of this wise and prudent stewardship on Indian Government credit have been strikingly illustrated by the recent sterling loan. Whereas a few years ago India was constrained to borrow on a 7 per cent, basis, she was able to borrow in January at a rate not much above that on which British Government securities stand. This is an achievement which is at once the test and the epitome of successful administration, and it is one of which Sir Basil Blackett and the Government of India may well bo proud. THE SCIENCE OF BLHLDING. Building is among the most ancient of the arts, but only in quite recent years has it begun to be a science. It has, indeed, a largo volume of traditional practice, which enables its operations to be conducted empirically, but as yet few of them have a scientific basis, says Engineering. The empirical practico, therefore, may cease to be sufficient whenever any change occurs in the materials used in the process, or in the conditions under which it goes on, and in buildings such changes are often known to occur long after the work has been Completed.,As the industry has grown, the fact that much or most of its practice has no scientific foundation has attracted increasing attention. This led in* Britain to the institution in 1920 of the Building Research Board of the Department of Scientific and Industrial Research, which has tackled a large number of subjects from the time of its foundation. It began in a modest way, and the economic circumstances of the time prevented its operations from expanding. About two years ago it was decided to set up at Garston, near Watford, a building research station on what seemed to be an adequate scale. Tho board has now published its first annual report, dealing with its operations until the end of 1926. j The main division of the station's work is devoted to what is defined as general research, in which tho supply of missing knowledge is the first object, and discoveries of immediate practical importance are not deliberately sought. Side by side, however, with this is tho branch of intelligence and special investigation, in which tho station, either with or without experiment, gives the best answer it can to tho questions addressed to it, and collects, collates, catalogues, and distributes such information as can bo gained at home and abroad. An essential part of tho station's procedure is to give special attention to the problems reaching it from the practical side of tho industry, and in particular to such investigations as it can make of individual difficulties met with in practice.