THE WAIPA POST. Printed on Tuesdays, Thursdays, and Saturdays. THURSDAY, 30th MARCH, 1933. ACCUSATIONS AND DOUBT.

Waipa Post, Volume 46, Issue 3309, 30 March 1933, Page 4

THE WAIPA POST. Printed on Tuesdays, Thursdays, and Saturdays. THURSDAY, 30th MARCH, 1933. ACCUSATIONS AND DOUBT.

NOW that the days of a very strenuous session have run their course, and with conversion of internal deht completed, it may be hoped that the Government will find 'time and opportunity to deal with the serious allegations made by Mr A. J. Stallworthy, M.P., in Auckland a month ago. Nothing that has occurred has undermined confidence in the official machine to the extent of Mr Stallworthy's Words, and it is imperative that due inquiry should be made. Confidence in Our Government is essential. Political differences may exist; indeed, it seems akin (to human nature that the political outlook should vary in individuals. But such differences do not, in themselves, undermine confidence; and so long (|as confidence can be maintained in the integrity and good intenit of our administrators political outlooks can be, and are, made secondary in times like the present. Above all else, therefore, confidence is a necessity; and since Mr Stallworthy has stated plainly that confidence can no longer exist it is essential that his words be either proved or disproved. In the first place it must be noted that he came out of Parliament, cast ing aside any suggestion of privilege, and from the public platform in land boldly announced his challenge. There is an unmistakable suggestion of corruption in his words when he says: "There is always that inner circle that gets information straight from the horse's mouth." ' Such words leave little to the imagination. Plainly the meaning is that either by the Government itself or by its agents there is a conspiracy with certain unnamed privileged persons who derive a prior knowledge of advantages Then, to prove how privilegte was avalied of, Mr Stallworthy says that while people "slept on 'the night of the 19th January and the morning of the 20th there were men in New Zealand who made scores of thousands of pounds because THEY KNEW that the rate of exchange was going to be raised."

In these words we have the most serious allegation of scandalous abuse of the whole system of government that has been ma-de for many years. It is a direct and unmistakable challenge to the Government, and whilst it remains uncontroverted confidence must be weakened and doubts must prevail. Mr Stallworthy clearly says it was an abuse, due to a prior knowedge, of the pegged His words cannot possibly apply to the normal movements of merchandise and a perhaps justifiable early remittance against drafts for shipments then on the water. Of the number of vessels coming to New Zealand sA the tiime most were in ballast to lift our produce. It is doubtful whether there were "scores of thousands" of values in *he cargoes—-certainly not in the exchanges on those cargoes. That in itself disposes of any suggestion that the allegations can apply to any normal trade movements at the time. The Only meaning that can apply Is thdt Mr Stallworthy alleges there

were " men in New Zealand " who on 19th January bought New Zealand credits overseas at £llO per £100; on 20th 'February those same credits V.ad a New Zealand value of £125 per £IOO. Apply this to £IOO,OOO draft on London on 19,th January —. a profit of £15,000 over-night. Mr ; Stallworthy says definitely and without the slightest reservation that "men in New Zealand made scores'of thousands of pounds" by manipulating the exchanges in Ittais manner, and he says also that they did so "because they .had received information straight I from the horse's mouth." Admittedly the Government is in a difficulty in disproving allegations of this sort. But it will have to face the difficulty if it sets any value on the continued confidence of the people. In the first place, Mr Stallworthy should be compelled to name his men cannot remain silent on this vital point since he claims to know so much. Secondly, the Government has, or should provide itself wiith, authority to search the bankers' Tecords of transactions at that fateful period. The transference of "scores of thousands" of credits which belong to the people is a palpable theft, and should be treated as such. The informer'—be he in the Government or in its servlice or in the service of the banks—should be and punished,; and the individuals who turned to personal advantage a State emergency in such circumstances should be treated as common thieves. If, on the "other hand, Mr Stallworthy 'has no godd grounds for his terrible accusations, he should be treated as a dangerous alarmist and so placed that he cannot similarly abuse the privilege of free speech in future. It is not a case for a Royal Commission or a. Parliamentary inquiry. Confidence will not be inspired by such

forms of investigation in a matter where common theft is alleged. New Zealand has not forgotten the famous massing voucher scandal of a quarter of a century ago, and would regard a Rbyal Commlission or a Parliamentary inquiry as a Whitewashing agency. The allegation is theft from the people nothing more and nothing less; and the country has Courts of. proper jurisdiction to deal with theft. That the Government has apparently taken no action during the past month is understandable and pardonable. There- have been so many matters of pressing urgency and importance to claim attention. But now that the stress of emergency is over it will be urged by every right-thinking citizen that Mr Stallworthy's allegations be investigated, so that confid-ence-in the Government may be restored to at least safeguard the community against, such abuses as are stated to have occurred.