The Daily News TUESDAY, DECEMBER 31, 1929. THE PASSING OF THE YEAR

Taranaki Daily News, 31 December 1929, Page 8

The Daily News TUESDAY, DECEMBER 31, 1929. THE PASSING OF THE YEAR

Before another issue of the Daily Ne\v» takes place, the year 1929 I will have given place to its successor, 1930, and another milestone will be left behind. Although there is no actual break in the continuity of the world’s affairs from one year to another, yet in the passing of the old year there is always an inclination to make a retrospect as well as to look forward with hope for the immediate future. When the expiring year commenced there was the gravest concern in regard to the health of King George, a concern that after many anxious months was relieved by His Majesty’s recovery. The year has seen the advent of the second Labour Ministry to hold office in Great Britain. Its foreign policy, particularly in regard to Russia and Egypt, has aroused much discussion, and it remains to be seen whether it will prove true statesmanship or mere political expediency. In one respect at least the Labour Ministry has disappointed its supporters as well as its opponents. It has been forced to admit there is no royal road to the solution of the unemployment problem, which shows no improvement as the result of .a change in administration. In trade and financial affairs in Great Britain the year* closes without much that is cheering. The Hatry financial crash and the effect of the Stock Exchange debacle in New York within the last few weeks of the year have left their mark on the London market. Against this can be placed the hope of cheaper money in the near future, and. the improvement to be brought about as the development schemes for the relief of unemployment make their benefits felt. In world affairs generally there has been nothing of outstanding moment. America has elected a new President, whose policy abroad is in the interests of peace, and whose policy at home is an intensification of the slogan, “American trade for the Americans.” In Europe history has been slow in the making. The long standing breach between the Vatican and has. been Rhineland by Allied troops has ended with Germany’s acceptance of a definite scale of reparations; France has changed Ministries but not her policy; Russia is as great an enigma as it was a year earlier; the dictatorship in Italy seems firmer than ever; while in Spain it is proposed to revert to Parliamentary rule. The Balkan States have' indulged in the usual amount of political blood letting, but, on the whole, despite the un- j happy conditions which obtain in I China, it may be claimed that! there is a world-wide movement for peace. The Kellogg Pact, the I forthcoming naval conference, I and the enhanced prestige of the | League of Nations, arc all factors > which justify optimism in the • cause of international peace. In I New Zealand the Government, | which at the end of 1928 had only • just taken office, has survived its = first session of Parliament. Its I

land policy measure met with little opposition, but its effect has yet to be shown. An increase in j land tax and in primage duties ! called forth considerable critic- i ism, but the actual effects of the ! new taxes can scarcely yet be de- ■ termined. The Ministry has suf- > fered from the ill-health of its leader (Sir Joseph Ward) and, though liis health is improving, it looks as if it will be imperative that he be spared some of the work he undertook with so much vigour before his breakdown in health. The exports in 1929 were a wonderful tribute to the Domin-

ion’s potentialities. Of these dairy produce was easily first in importance. With lowered prices for wool and meat it seems not improbable that once again the dairy industry will keep New Zealand solvent. Expert authorities consider the output for the current season h likely to exceed that of last year, though prices may be lower. The most satisfactory feature is that improved methods of farming are becoming the rule rather than the exception, and the reward they bring is being recognised increasingly. Trade and finance in the Dominion, though not as promising as might be desired, arc still far from calling for despondency, though they do demand fresh effort and a determination to reduce the costs of production in every possible way. There has been no political or industrial turmoil during 1929, but there is undoubted regret that the year sees the of the term of office of the Governor-General, Sir Charles Fergusson. He has shown an aptitude for his position that has won praise from all sections or the community, and he has 1 been ably seconded in all his cf- < forts by Lady Alice. In Tara- ' naki development has proceeded ' steadily. The.; Main., .Trunk line

construction is being pushed ahead with some regard at last to the importance of the work. Highways are being improved, and in all the principal towns signs of progress are to be found. In New Plymouth the drainage and water supply works are under way, and in Hawera and Stratford water supply and other municipal improvement schemes are now under consideration. The output of the dairy industry in this province is being fully maintained, and to this above all Taranaki owes the optimism with which a new year may be faced. It is a spirit which should dominate the whole Dominion, for despite drawbacks there is no part*of the Empire in which there is more fitting sincerity in the wish for a Happy and Prosperous New Year.