QUEENSLAND FINANCE

New Zealand Times, Volume XLVI, Issue 10718, 12 October 1920, Page 4

QUEENSLAND FINANCE

There is no doubt that the deputation, of Oppositionists from Queensland have made mischief. The cardinal error, however, -which they committed was their appeal to the Home Government against the action of their own Government. The appeal was squashed promptly by an answer which showed the ignorance on the % part of these gentlemen, of tho autonomous principle on which self-government of the Overseas Dominions is based. Such ignorance, which, under all the circuni-' stances, k amazing, mas 7 , however, be now regarded as ended, for the rebuff given to these misguided Queenslanders has resounded all over the civilised world. The Government of Queensland has them of causing a boycott of its finance, by devious ways of bargain, and menace understood among financial magnates. This they denv strenuously. Tho,denial means that thf> money market has turned down Queensland, not by reason of the efforts of the deputation, but because the policy of the Government has lost Queensland the confidence of tho money market. But the kind of criticism employed by this deputation can readily be imagined. It is not new. What there is new about it is that this is the first time euoh criticism, though frequently used, has been successful. The worst sample of it was employed with great publicity of virulent effort when the Ballance regime got into the saddle. The world was then Informed that the Seven Devils of Socialism had usurped power, and that capital had spread its wings for flight, and packed the>last carpet bag. . But this rain of economic projectiles fell harmless, and, thanks to the success of the Ballance policy, which proved its merits, the credit of New Zealand took first place in the money market, and has .remained among the best to, this day. It is now' the turn of Queensland to go through the mill. The beginning is harder than New Zealand's was. But if the Government policy shows the spirit of justice, the prudence, and the sane financial' skill which distinguished the Liberal ascendancy in New Zealand, the credit of Queensland will very quickly get back to what the credit of that rich young State once' was, and always ought to be.