THE DEMOCRAT PARTY

Otago Daily Times, Issue 22712, 26 October 1935, Page 8

THE DEMOCRAT PARTY

MR HISLOP AT MOSGIEL J i VIOLENT ATTACK ON PRESS i : The '.Leader of the Democrat Party, Mr T. i-C. A. Hislop, continued his political campaign in Otago with a meeting at Mosj:iel last evening, where he addressed about 400 electors. He dealt at some! length with the main planks of the parity's policy in a strain similar to that 1 , of bis recent speeches. After paintingl a picture of a nation rapidly progressing towards State Socialism in its worst! form, with special reference to the menace of the Executive Commission of Agriculture and the “brain trust,” he went on to emphasise the manner in which r a Democrat Government would reduce taxation and improve the unemployment! situation. He condemned the artificial (exchange rate and commended the produce bounty to his hearers and then, outlined what the party’s intentions Usyere with respect to returned soldiers. \ The Gctywnment, he said, was making many last-?ninute efforts to win popularity. A great number of death-bed repentances were now in evidence and many thiiigs were now being promised which should have been done during the past four years. He would like to warn people agafaiet promises which were being made. It; whould be thoroughly understood that Mr Coates’s Budget and his Estimates : were the only true and reliable indicj ations of the policy of the Government!. They laid down provisions for expenditure and estimates of revenue. Anything oil tside these could not be put into effect, 1 and no one knew it better than the Government. It was no use their sayingj tihat they would do this and that unless whey had made provision for it in the Bridget. They had not made this provision). If Mr Coates now came along and sa id he was going to provide this and thi it- —housing schemes, health and pension J, schemes, a milk scheme for all children, Mr Forbes’s library scheme —and fulfil all the various recent promises made since the Budget was introduced, then,; he asked, how was Mr Coates going’ to find money to do it. It was remarkable that all these recent proposals hacj been made since the proposals and tjie policy of the Democrat Party were ]|aid down. The proposals m3(de by Mr! Coates would involve an enormous increase in taxation if carried into effect. The Democrat Party’s proposals, on thq contrary, involved no increase but, in' fact, a decrease in taxation. He wquld like to refer to the excuses now Sibeing made for the gross inaccuracy of; Mr Coates’s last Budget. In that Budget he had estimated that there would bV a surplus of £BOOO. Instead he got 311,600,000. He was thus £2OO out for deery he liad estimated to get. The excuse was now made that this extraordinary result was due to causes unknown, and which could not he calculated whe*i the Budget was introduced. The principal excuse was that he did not kneipv that he was going to make the immeiise profit on gold which he confiscated frlom theimnks. Mr Coates knew perfectly; well, when the Budget was that he was going to make the imme.B se profit on gold which he confiscated I rom the banks. Mr Coates knew perfectly well when the Budget was introduced that he was going to get this monte y. The Reserve Bank legislation went;' through in October 1933. Mr Coaiteh himself issued a pamphlet under ihis own signature in December, 1933'.' I That set out exactly what the Government was doing in connection with the banks’ gold. He had used the following words, “The Reserve Bank Aqfc provides that the banks shall be paid £3 17s 10Jd per standard ounce for; gold. They will lose nothing. Any profit which may be derived in future fr*un the sale of gold will be credited toll the public account.’ He did not introduce his Budget until about eight months’, later. He then knew perfectly well tlj at the profit of £1,250,000 was goiiig to be made. It was clear that he hjad all necessary material before him, when he introduced the Budget to give iin accurate estimate of the revenue and Expenditure. Instead of this being done ie gave an estimate which was £1,500,0(50 out. No greater example of gross inaccuracy and inability to forecast the futyire had ever been shown in any previous Budget in this country. * . j , Having come to Ihe end of an address that had over an hour and a-half, the speaker '.said he felt sure the audience would welcome some amusement to finish up with. The gathering looked expectant, and soon found that its diversion was to take the form of a violent attack on tike manager of the Otago Daily Times Company and the Dunedin agent of the T,Jnited Press Association. both of whoiia he named. He concluded an extraordinary tirade wPli the solemn assurance that he was stronger than a hostile press and could be relied upon at all ttuies to give very much more than he gpfa. At the conclusion o\l the meeting a vote of thanks was i carried to the speaker. Mr A. P. Quelch (Mayor of Mosofiel) occupied thej chair, and CapFraser, the Democrat candidate for Chalmers, was also on the platform. The Press Association agent in Dunedin furnishes the following explanation of the occurrence on which Mr Hislop bases his attack | on the manager of the Otago Daily Tinues and on the Press Association agent in Dunedin for the morning newspapers;- — Mr Hislop is obviouslu under a misapprehension with regain 1 to the Press Association report of 11 is meeting in Dunedin on Thursday might. Every effort was made by the (local agent for the morning newspapers ato secure a report of anv new matter! that might be contained in Mr HislopT speech. In fact, he was advised from Mr Hislop’s headquarters in Dunedin, that a press message was being prepared and would be sent to the Daily Times Office during the course of the afternoon. This is admitted by the person who gave the information, but the message did not arrive. Exhaustive measure* i were taken in the evening to obtain .a report for telegraphing, but owing apparently to an accident for which the (agent was in no way responsible this failed to reach him. ;