THE FINANCE PORTFOLIO

New Zealand Herald, Volume LXX, Issue 21399, 25 January 1933, Page 8

THE FINANCE PORTFOLIO

Commenting on the allocation of tho portfolio of Finance to the ftt. Hon. J. G. Coates, the Otago Daily Times says:— "Mr. Coates has had a long and valuable Ministerial traiuing, has proven ability as a resolute and courageous leader, and commands a considerable following in tho House and throughout the country. It is to be seriously questioned, nevertheless, whether he possesses the type of mind that is required at the present time in the Minister of Finance. If this Minister is to discharge his duties in such a manner as will serve the best interests of the country, he must be prepared to act as a brake upon all expenditure that is not absolutely necessary., The most rigid scrutiny of the expenditure of all the departments is imperative, and the Minister of Finance is the authority to whom the country must look for the exercise of a check upon a tendency on the part of any department toward undue spending. It is to be feared that Mr. Coates is hardly the man who will stand, firm as a rock, in resistance of departmental extravagance. The country would have been better satisfied if Mr. Forbes himself had taken over tho Ministry of Finance and transferred some of his minor responsibilities to other members of the Government. Tho allocation of the office of Minister-of Finance may be regarded as an error in judgment on the part of the Prime Minister."