The Rangitikei Advocate. TWO EDITIONS DAILY. WEDNESDAY, OCT. 22, 1919. THE POSITION IN POLITICS.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 11927, 22 October 1919, Page 4

The Rangitikei Advocate. TWO EDITIONS DAILY. WEDNESDAY, OCT. 22, 1919. THE POSITION IN POLITICS.

APART altogether [from consideration of the rival programmes issued by the two chief political parties, there never was a time in the history of New Zealand when the issue of an election was of greater im-j portance than that which will he decided at the coming struggle. This country is suffering from the unrest common to the whole world as a consequence of the great war, and the disturbance of old ideas has given an opportunity for extremists who are advocating various panaceas for the ills of political life and theimprovement of social conditions.'* The great need at the present time is union among those who desire to maintain law and order, to respect the rights of property, and to ensure progress on sound lines, while avoiding hazardous experiments. It is greatly to be regretted that personal reasons have induced one of the chief parties to sever connection with the other and fight against it, because this gives opportunity for another party, though it is weaker than either, to secure control of the public purse, or, failing that, to hold the balance of power. Experience in adjacent States has proved the serious danger of allowing those who have no fixed stake in a country to control its destinies. It shbuld he realised by every elector that the object for which an election is held is not to promote the personal interests of any candidate, hut to ensure the possession of legislative power and administrative control to those who can be trusted to work together wisely and well for the general good. The people can, by constitutional means, attain this end. In other countries blood is still being spilt freely with the same object in view—in some cases to prevent, domination by a class who would tyrannise over and despoil all others. If the public interest is to be properly safeguarded we must send strong men to Parliament, men who will have the courage of their opinions, men who are neither extremists nor adventurers, men who have something to lose should disaster occur, men of clear sight and prompt and determined action. It is possible for a L had Government in a' very short time to undo the good work of years, even to convert prosperity into distress and general stagnation. In the coming struggle it will rest entirely with the electors to decide whether j the Government is to be good or bad, and upon the manner in which I they exercise their power will de- j

pend’the progress and (prosperity of New Zealand.

TO-DAY the British Parliament reassembles, and one of the first subjects to receive its attention will be the necessity for retrenchment. This has been forced on the country because of the enormous cost of the recent war. The task before the Government is one of great difficulty, for the taxation is already oppressive, and the process of readjust-, ing affairs will necessarily be slow, while all the time the debt continues to increase. The deficit for the last six months alone is said to be more than 313 millions, while the national debt now stands at a figure which is almost appalling in amount. The deficit for the last six months alone is nearly half the whole amount of the National debt of twenty years ago, and the debt itself is now very nearly two thousand millions. The problem before the British Government is how to lessen expenditure and reduce the public debt without impairing efficiency, and history does not record any greater financial difficulty than that which has now to be faced.

THE rate’ of interest New South Wales is offering for its new loan of £3,000,000 indicates that its necessity is great, also that the issue of paper money by the Commonwealth does not meet all requirements. That State is going to the pawnbroker to pledge its assets to secure a loan for which it offers £5 10s per annum for every £IOO, and she also offers to take only £9B for every £IOO she will have to repay. So far money has not cost New Zealand more than 5 per cent,, and for some we pay only 3 per cent. ‘The figures relating to the New South Wales loan show that at present the borrowing policy is likely to prove too costly, and that Governments should make earnest efforts to avoid it, except for purely reproductive and profitable purposes or to carry out undertakings they are in honourbound to fulfil.