DOMINION FINANCES.

Poverty Bay Herald, Volume XLVII, Issue 15221, 20 May 1920, Page 5

DOMINION FINANCES.

THE PREMIER'S WARNING. \ (Per Press Association.) WELLINGTON, , last 'night. Interesting reference to 'the- public finaiiiue's were made by the Prime Min»i»'.er at , the annual dinner of the NeW Zealand Dental' 'Association to-night. Sir. Massey said he did hot woftder that 'there was to-day a great clamour for piiblic expenditure. Development, improvement, and expansion were wanted in every direction, aiid each of the claims was in itself *g6od. ■ . *But New 'Zealand had only a certain amount of inoliov to spend, and that point eo'u'd ''not 'be 'emphasised too stronigly; "It will take lis all our time to avoid a wave of depression," the Prime Minister. "We do not Want depression, and I believe that it can be avoided. Bat it can. ba avoided only by care, economy^, aho\ industry, oil the part of the people pf •this country. We must curtail the- eXtiavagance that has been going oh •in the. town and country. . For along tima past 'money has been -pleivtiful in Neiw Zealand— more plentiful perhaps in any other part of the Empire. The peop'e of IveSv Zealand concentrated, during the war, oil doing everythi'itg they possibly could to supply tho •hea'rt of the Empire with the products it required for the -Army 'and -the Navy: The consequence has been that money has poured into, .this country in a way we had never experienced, before. But <a change is .coming over the scewe. You will; have seen from London that already there has been. a. drop in prices. .The commandeer of our , products is coming to an end, auid We must not expect, to receive for our principal products, the prices that we. .have been receiving. . rhere 'is- no, doubt about that. Some people will see consolation i'n the reduction of the cost of living. We all want ;to gee the cost of living, reduced. But, remember, we aro not likely, to have the amount; Of money to- spend, that we have had daring. the last few years.. Tliat ?s why I wish .to imprcss.-*upor_'the public qf this country the necessity of bacng careful."