CLEAR-CUT ISSUE

Otago Daily Times, Issue 22723, 8 November 1935, Page 12

CLEAR-CUT ISSUE

STABILITY OR DISASTER? A MOMENTOUS DECISION RESPONSIBILITY OF THE ELECTORS (Special to Daily Times) OXFORD, November 7. “ God- help New Zealand if as a result of the elections a Labour Government is given control of the national finances and the administrative affairs of the country for the next four years. It will mean a worse disaster than the severe depression from which the country has emerged. It will involve control of the banking machinery of the Dominion and the savings of the people. The people must face that prospect as the most serious issue ever submitted to the electors of New Zealand.” Such was the direct statement made by the Prime Minister, Mr Forbes, to-night in the course of a vigorous address to close on 300 electors at Oxford.

“ We are approaching a general elec-' tion,” Mr Forbes said, “at which the people will be asked to determine the political and administrative future of the country for a period of four years. To my mind it is the most serious decision that the electors of New Zealand have ever been called upon.to make. It demands very serious consideration,. As a National Government, we have endeavoured right through the severe depression to keep the finances of the country on sound lines. Now the electors are being invited to Relieve that there is some new magical method of avoiding difficulties without cost or hard work. It. is suggested that by manipulating finance an open, easy road to prosperity will be provided. Such a suggestion is merely an illusion. Look at Britain’s efforts and achievements. To-day, the United Kingdom is the envy of the whole world and its enviable position has been due to a firm and consistent adherence to sound methods of finance. That simply means balanced Budgets and a reliance on old and tried methods. “ What is the position in New Zealand to-day? ” asked the Prime Minister. “What is the issue at the forthcoming polls! We have on one side an experienced Government, which has proved its courage and ability to face realities and do everything possible to maintain financial stability and prudent administration. On the other side, there is the Labour Party, with no experience whatever of administrative affairs, but with .a fantastic experimental financial policy. There are, of course, other parties in the field, but, after all, the issue is betweep the National Government and the Labour Party. “As I have said, the Government’s determination throughout the past depression was to keep on the financial rails. I have been looking at the programme offered by the Labour Party. I have So hesitation in saying that, if such a policy be tried, it will be the greatest disaster New Zealand has ever had to face. Leading representatives of the Labour Party are speaking just now in very moderate terms, which might tempt many people to accept the party’s policy as a mild one and almost worth a trial. That is the real danger. I have been associated with the parliamentary members of the party and respect them, but it is necessary to remember that they do not advocate their own policy, but must follow the policy laid down for them by their industrial organisations outside Parliament. Make no mistake about it, that is the position. “One of the things in the forefront of the Labour programme,” Mr Forbes continues, “ is to secure possession of the banking machinery of the country for the purpose of carrying out the party’s experiments. I noticed to-day that a member of the party' candidly announces that Labour inteilds to take control of the hanks. What does that mean? It means that a Labour Government, in an attempt to give effect to its schemes for guaranteeing prices, incomes, and wages, would take control of the investments and savings of the people. We know that such schemes are hopelessly impossible of achievement without taking rash liberties with the national finances and seriously affecting the foundations of the national credit. I am confident that the people will not take such a dangerous risk. It has to be admitted that Labour has to put something attractive before the electors, but every sensible man knows quite well that its policy of all sorts of guarantees cannot be put into operation. It is like spreading treacle for flies. Is New Zealand going to keep on the lines which have brought it out of the depression: or is it going to entrust its’ administrative affairs to inexperienced parties? That is the main question before the electors. It is for the people to decide, but my own feeling is that it would be a sad day for New Zealand if it changed horses while crossing the -stream.” The Prime Minister recounted the difficulties and achievements of the Government, claiming that the Coalition Ministry, while receiving all the blame, was entitled to some of the credit. He received a perfect hearing and was frequently applauded during his two hours’ address. After replying to questions, Mr Forbes was accorded a unanimous vote of thanks. The meeting was an outstanding- success in every way, providing impressive evidence that the candidate is assured of a decisive victory at the poll.