THE LIBERAL PROGRAMME.

Star (Christchurch), Issue 19824, 16 December 1919, Page 6

THE LIBERAL PROGRAMME.

A LAST WORD TO THE ELECTORS

INDUSTRY, COMMERCE, AND FINANCE. Of course, Sir Joseph Ward and tho Liberals recognise that the great and beneficent programme that they have placed before the country will cost a great deal of money to carry into effect. The Liberal Leader has. therefore, devoted much care to tho financial aspects of his “ platform.” He realises that Increased Production is an important factor in tho problem, and he is prepared to assist in that direction by legislating on linos that will increase tho workers’ share in tho total sum of wealth produced and, by meeting all Labour's reasonable demands in a sympathetic and conciliatory spirit, will encourage the wage-earners to do their best for tho country in their own interests and will thus promote industrial peace. At tho same time, fmancial help is to bo extended to new and growing industries. Further, in order to secure a certain supply of coal for the people, to keep down .the price of fuel, and to prevent the constant industrial strife that has so often convulsed the industry, aud paralysed our commercial system, Sir Joseph Ward proposes to NATIONALISE THE iTUNOIPAL GOAL MINES. This project has been fiercely assailed by many leading “Reformers” largely on tho ground that it is another 11 interference with private enterprise,” and some of them predict its certain failure. But the Masseyites have always said the same thing about “State interference” and they seem to forgot that at the present time one of the most influential and representative Royal Commissions of recent years at Home has strongly recommended tho Nationalisation of British Coal Mines with tho concession of n considerable share of control to the workers themselves. No doubt “ Reform,” supremely confident of its own superior wisdom, believes that it can afford to ignore tho Saukey Commission’s Report; but tho Liberals know that Sir Joseph Ward has good authority and ample precedent for the scheme that he now puts forward. But the “Reformers” protest most loudly against the New Liberal programme on the ground that it is financially impossible. Among other tilings, they have said that the price paid to private owners by tho State for coal mines and other natural resources or industries that may be nationalised, would mean such heavy demands upon our national finance that we could not carry on our

Public Works policy or find money to complete our roads and railways. This is, of course, quite absurdly inaccur-

ate. When a city takes over a transport sendee—as when Auckland recently took over its tramway system—the municipality does not have to pay ‘‘cash down” and stint itself of all the other necessaries of municipal life for a generation to come. If we 'nationalise the Coal Mines here, Sir Joseph Ward proposes that they shall be bought on debentures, and, as the industry is at least self-supporting, the trouble about finance can be met without interfering in any way with our Public Works system or our .plans for railway construction. As for tho sources of financial sup-

ply from which Sir Joseph Ward expects to make both ends meet, it should bo noted that the establishment of a State Bank—on the lines which have proved eminently successful and profitable in Australia—the nationalis-

atiou of Coal Mines and the development of liydro-Electrio energy open up possibilities of economy, better financial facilities, and a more rapid development and utilisation of our vast natural resources on a scale undreamed of by the “Reformers,” with their narrow outlook and their limited conception of the marvellous potentialities of our country and its people. By far the most important of the constructive schemes included in the new programme is the proposal for the development of H Y DllO-ELECTRIC POWER by utilising the splendid water supply now largely running to waste in every quarter of New Zealand. Sir Joseph Ward suggests that £6,000,000 should be expended in establishing the most important distributing centres within three or four years. But it must be remembered that while Sir Joseph Ward was tho first of our political leaders to advocate this important national policy at a time when the idea was ridiculed by tho Reformers, as “extravagant” and “visionary,” ho has always insisted that the process of developing our hydro-electric resources must go on by slow degrees, lu tho debate on Mr Parry’s report last year, Sir Joseph spoke strongly against tho proposals for wholesale and reckless expenditure on these purposes to tlie extent of about £17,000,000 —as advocated by many “Reformers” at the time.

But, however, in regard to this aspect of the question, it cannot be denied that the possibilities of this Hydro-Electric Scheme, which Sir Joseph W’ard has always steadily supported, are, in tho words of an American expert who reported on our water supply fifteen years ago, “beyond the scope of imagination,” and we may enter upon this project with the certainty that we are dealing with on enormous national asset, and not, as the “Reformers” seem to think, a huge liability. It is, of course, impossible for .Sir Joseph Ward to specify in detail long beforehand precisely the way in which he proposes to readjust the financial arrangements of the country so as to enable us to liquidate our debts and to bear the new burdens that the coining jears must bring. But he has in(Heated with sufficient clearness tho chaiactor and scope of the resources on which he intends to draw, aud his ■well-tried ability as a financier, and the extraordinary success that has maikcd his control of the country’s finances, more especially dunng the last four years, should‘be a sufficient guarantee to the people that they will do wisely to entrust their finacial business to Lira for the immediate future. It is rather remarkable that, while Mi* Massey calls Sir Joseph Ward “irresponsible,” and the Masseyito P(rcss calls out against his “ fantastic ” aud ‘ ruinous ” schemes, the “ Rjwrmers ” lamented his withdrawal the Coalition as a grievous loss to themselves and tho country. And it is still more remarkable that when Sir Joseph Ward took office, the surplus ho found in tho Treasury was a few score thousands, while when ho retired ho left an_ accumulated surplus of over £15,000,000 behind him. Those facts suggest a comparison between “Masficyite” and “Wardito” finance that is curiously unfavourable to the “ Reformers.” Remember, also, tluvt Sir

Joseph Ward, whom his enemies denounce as feckless and extravagant, was the first of our Finance Ministers to establish a. Sinking Fund for the extinction of obr National Debt) th*s- - system has proved a great success; that he wished to seo his groat accumulated surplus of £15,000,000 reserved as a Sinking Fund, but was prevented by Sir James Allen, who insists on using it for other purposes; and that the country through the bad financial judgment of the “Reform” Minister, is tints not only deprived of the most effective means of extinguishing its heavy debt within a reasonable time, but is also deprived of an invaluable security—as a Sinking Fund of such dimensions wopld have been—to facilitate the flotation of future loans’., With this evidence before them, the people can judge for themselves to which party and which Finance Minister the charges of “ recklessness,” “extravagance,” “improvidence,” so freely employed by the Masseyitee actually and truthfully apply. ' The well-known and indisputable facts of Sir Joseph Ward’s public career disprove effectively enough all such frivolous and malicious allegations—just as his splendid record as a Liberal, a patriot, and a Constructive Statesman with a reputation extending throughout the Lraplro and the English-speak-ing world sufficiently refutes the false, and preposterous accusation of sympathy for Anarchism or Bolshevism that Iris opponents have levelled against him. The people know that Psew Zealand was safe and prosperous and happy in tho hands of Liberalism belore ; and when they cast their votes for Liberalism at tho polls they will trust themselves to it again with the certain and assured prospect of an even brighter, more prosperous, and move peaceful future. X