Taranaki Herald.

Taranaki Herald, Volume 18, Issue 13892, 18 February 1909, Page 4

Taranaki Herald.

THURSDAY, FEBRUARY 18, 1909.

THE IMPERIAL PARLIA- , MENT.

After a short recess of eight weeks the Imperial Parliament has again met for the transaction of business. 'A few days a|ro the Prime Minister, Mr. Asquite, announced that immediately upon Parliament meeting matters of "grave and urgent importance" would arise. . On that account the King's Speech has been looked for with more than ordinary interest. So far, however, as the cabled summary goes we fail to find references to anything justifying so solemn a warning- In the existing relations with foreign Powers there is nothing on the surface to cause anxiety, except perhaps in the case of Persia, and there is nothing in that biisiness which can be said to threaten the peace of the world; the worst that can be said is that British commercial interests are endangered. The recent visit of the King to Berlin appears to have had an excellent effect in allaying whatever irritation existed between the two courts and the two nations, and nowhere else does there appear to be a cloud on the international horizon. Were it not that the speech expresses deep satisfaction with' the measures designed to improve the Indian administration, we might think that one -bf the matters of "jgrave and urgent importance " referred to that part of the Empire, but the seditious movement seems to be well in hand. That hotbed of trouble, the Balkan region, is giving less cause for anxiety than at any time for very many years, so that we must probably look at Home for the grave and urgent matters referred to. The Bills promised, while important enough in some cases, can scarcely be classed as " grave and urgent." It is, however, of sufficient gravity that the adoption of old age pensions i

and the increased cost of the navy have between them no added to the national expenditure that additional taxation will have to be imposed to meet it. The policy of the Government in undertaking the payment of old age pensions before providing the wherewithal has met with trenchant criticism, which is justified by the present admission that the revenue is not sufficient to meet this and the increased navy expense. Tl\ree courses are open to the Government — to suspend paj'ment of National Debt sinking fund, to borrow for na'yal construction, or to impose fresh taxation. Probably this is the most grave and urgent matter to be discussed — the means of making ends 'meet, and the speech declares that the discussion of this question is likely leave little time for legislative measuies. The Education and Licensing Bills, which the Government has so far failed to carry, are not even mentioned, nor is there a word of reference to the House of Lords, against which many fulminations have been hurled on account of its action in defeating Government policy measures. Reference to Ireland also is conspicuous by its absence. The financial question, in fact, is the outstanding feature of the speech. The Government is face to face with a serious situation, and upon its success or otherwise in dealing with it depends its continued existence.