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Taranaki Herald, Volume LXVII, Issue 16502, 1 August 1919, Page 2

The last five years have .scon a destruction of capital on a scale unparalleled in the history of the world, and this fact is one of the most important causes of the present industrial difficulties all over the world. In ordinary circumstances a groat part of the profits of industry is put aside for tho development of businesses and the repair and replacement of buildings and machinery. .Expansion is necessary, if for no other cause, to provide for tho employment of the new workers who grow up eacli year and exceed in numbers those who die. During tho war vast amounts of fixed capital in tho form of buildings and machinery in tho war zone were destroyed, and many millions were employed daily in feeding and clothing soldiers who produced nothing, and' in providing them with munitions which, after being fired from tho guns, were turned into useless scraps of metal and noxious gases. A heavy bombardment meant that the money which would have built houses, factories, or railways, had vanished for over, instead of producing goods and services which would add to the wealth of tho world. 'lhis waste has been most marked in the countries intimately concerned in tho war, but it has affected this Dominion in the same way. Millions of money have Been subscribed to war loans which have been spent to preserve our liberty, but as the result we arc short of houses, railways and roads have not been constructed, bush which should have been felled is standing, and farms have been allowed to go back for want of labour and manures.’ Prices are high because goods of every description are. scarce, and the only remedy is production and over more production to supply the needs of the people and build np again our stores of capital. Every extra pound of butter, moat, wool, timber or coal the people of this country can produce will help to make good the waste of tho war.