"THE ROAD TO RUIN"

NZ Truth, Issue 882, 21 October 1922, Page 4

"THE ROAD TO RUIN"

MASSEY'S MONUMENTAL MUDDLING. "Why are you always dealing out stoush to Bill Massey?" This question was put to "Truth" a few days ago by an amiable, honest citizen. Columns of good, solid reasons could be written m. reply The quantity would be so great 'that it would defeat its own object.: So we will endeavour to answer the "question m a manner that may be v mor*. easily understood by the' questioner a-id others ; of his type, ' /■ - ,-.' ■ . :: , »: '•'> Hla type — it is a common one. It is composed of men who take a very superficial intereat— iC any— in politics and .economics, for about two years arid' ten months "every three years, and m the remaining t\vo months develop into comparatively fierce partisans, whose ignorance is revealed at every point. It would be folly to suggest that the type' is confined to the -Masseyites. But it is doubtful if the »-anlc and file supporters of any out Party are more ignorant of the- political situation of the day than are those who blindly vote for the mis-naned Reform Government. For them, "Bill Massey is the man for us," is all sufficient. Sound and economic administration on business lines was one of the big promises of the Reformers. It sounded well, but time has proved it to have been all sound — not the soundness promised. When Sir Joseph Ward left 'the National the annual expenditure was 18% millions per annum. The Massey government has increased that by marly ten millions and has gone on piling up the country's indebtedness."But the Government has economised and is still retrenching^' comes tne reply. Why did the Government start to retrench? It was forced to by the mess it had made of things. Expendi T ture had exceeded' 1 evenue as the result of gross extravagance and lack of foresight. . Reform had to stop its -wild orgy because ilere was no more money to carry it on with. The most sumptuous banquet usually, ceases when the viands and wines have vanished. The country has witnessed a right royal banquet and is now m the throes of the morning after. That it will recover is certain, but we must change the caterer. Under Reform ti^e country has been taxed to breaking point. Industry and general development have been alarmingly retarded; a consequential unemployment problem has developed and, despite temporary expedients and adventitious" aids, is not yet solved. As the taxation stranglehold was applied, expenditure of pubiic money increased. Reform can claim no credit for introducing economies late m the day. They were the. inevitable sequel to extravagant maladministration. When Sir Joseph Ward walked out of the National Ministry ho left the Reformers with millions of accumulated surpluses. We know that they vanished chiefly m the purchase of land for soldiers. The object was worthy, but how much could . have been saved by greater prudence m buying? How many soldiers would have "made good" instead. of having to, go cap m hand seeking relief from choir burdens. Tt.-^ Government has, under pressure, instituted inquiry into this > subject, but has seen to it that the result will not be known until after the .Election. Under Reform's' businesslike methods the Dominion* Consolidated Fund expenditure has increased from nearly twelve millions annually to over twen-■'ty-eight millions. ' Tax.-free war loans are losing the country an enormous sum annually. For their issue the Coalition Government is responsible. But how does Mr Massey propose to solve that problem? He talked mysteriously about intioducing a conversion scheme. How puerile and, futile his proposal was is obvious when we are told that out of over forty- eight millions of this class of security held m New Zealand hr lias not yet attracted back. £200,000! The big investor chuckles and hangs on. Can you blame him? The Government _ hampered - the operations of the St*te Advances Off fice when its aid -was most urgently needed. It .took no rteps to prevent the levying of an excessive overdraft charge by the banks and aggravated the financial stringency. If estimating expenditure a.t[ an unduly high figure and keeping within the estimates is a measure of economy, Mr Massey has done nobly. We are not alono m "dealing out stoush" to Reform. One of Mr Massey's oldest newspaper supporters is the "New Zealand Herald." It was this journal, which, m an honest criticism of the , Government's financial policy, declared: "It is no use offering a starving man a cokery book." ,< It also had the temerity to declare: — . . . The surpluses ore hieing steadily drawn upon to pay for the riotous departmental wast*, in '.which we are " indulging. With the rottenness of- our railway finances we have cV.alt. frequently. It is significant to note that the sarrie Reform authority we have already quoted agrees with "Truth" that the railway service "is dominated, by