THE PUBLIC DEBT.

Sun (Christchurch), Volume I, Issue 254, 30 November 1914, Page 6

THE PUBLIC DEBT.

To the Editor of THE SUIT. Sir, —Speaking at Winton, Sir Joseph Ward stated that when the present Government came into office (in 1912) the net national debt was £82,193,000, and that on March 31, 1914, it amounted to £91,689,000, being an increase in two years of £9,496,000. Now, in the 1909, and in some previous Year Books "prepared under instructions from Sir Joseph Ward," under the heading of "Fifty Years' Progress: Public Indebtedness," there was a table showing the yearly increase of the national debt, including the local bodies'-loans. In subsequent Year Books, however, likewise issued under Sir Joseph Ward's instructions, this table has been omitted. But, unfortunately, "omittance is no quittance." Therefore Sir Joseph Ward should have admitted that the totaf net public or national indebtedness on March 31, 1912, was £97,355,000, and the gross debt considerably over £100,000,000; The greatest '' progress'' made by Sir Joseph Ward's finance was in 1910-11, when the >year's increase in the national debt was £6,977,000. Mr Massey has not yet beaten this l'ecord. It is a pity he has .not. reformed the new Y6ai* Book by re-sntxo(l'J,cing the table and continuing to show the real increase of the national debt year by year. Or, rather, to make real "progress, " the reduction, of the debt instead of increasing .it! Neither Sir Joseph Ward nor Mr Massey has the slightest right to pretend that the total public debt excludes any part of it. The only object can be to deceive the people or the creditors of New Z.ealand. That is not a. "square deal." ,On this question all the members of Parliament, and all the candidates, s£em to be dummies, just following their leaders! How much more important the prohibition, question, or the Bibl,e iji schools, and the baby bonus. —I am, etc., , J. MILES VE&RALL. ; Swannanoa, Nov. 28, 1914.