THE Wairarapa Age MORNING DAILY. TUESDAY, MAY 22, 1928. SOUND FINANCE

Wairarapa Age, 22 May 1928, Page 4

THE Wairarapa Age MORNING DAILY. TUESDAY, MAY 22, 1928. SOUND FINANCE

In the course of a recent address in Wellington the Minister of Lands (the Hon. A. D. McLeod) dealt effectively and from a common sense standpoint with some of the principal political questions of the day. He made the point, amongst others, that even parties standing as definitely opposed to one another as the Reform and Labour parties in New Zealand are to a considerable extent agreed regarding objectives—notably the objective of promoting all-round social betterment—and that their differences relate chiefly to the way in which.these objectives are to bo reached. Political labour in this and other Dominions, Mr. McLeod observed, argued that social betterment was of first importance and that, all other considerations were of secondary importance. Reform, on the other hand, while admitting the virtue of such an objective, was firmly convinced that no permanent betterment could be achieved unless it was firmly based bn sound finance.

All who have taken even a passing interest in our political affairs will realise that the distinction thus made is just and profoundly important. If there were nothing else to be said in criticism of the Labour Party, its readiness to disregard or flout the principles of sound finance would suffice to discredit its claims. Its claims are invalid, not because it desires to expedite the process of social betterment, but because the methods by which it proposes to pursue this aim would inevitably bring bad times instead of good. In New South Wales and other Australian States we have seen ambitious schemes of social betterment promoted by Labour governments leading, not to the results that were hoped .for, but to the disorganisation of national finance, industrial depression and unemployment on a much greater scale than New Zealand has ever experienc-

The policy of sound finance for which the Reform Party stands implies simply a prudent management of nai ional affairs to the best advantage, and a studious avoidance of plunging and spendthrift methods which bring in their train, as certainly as night follows day, penalties of industrial depression and bad times for the population generally. A policy of safe and prudent management is not in any way spectacular, and those who adhere to such a policy are apt at times to find themselves at a disadvantage in answering critics who accuse them of halting timidity and sot no limits to their own airy promises of what they would do if they had the chance. Long and at times painful experience has demonstrated, however, that prudent methods of management which ensure steady progress are infinitely to be preferred to reckless adventuring, and the people of New Zealand would be exceedingly unwise to allow their perception of this vital fact to be in any way obscured by the political vapourings of those who are prepared to promise the moon for the sake of ge’tine into office. °