The Wanganui Chronicle MONDAY, OCTOBER 26, 1925. A GLOWING OPINION

Wanganui Chronicle, Volume LXXXII, Issue 19438, 26 October 1925, Page 6

The Wanganui Chronicle MONDAY, OCTOBER 26, 1925. A GLOWING OPINION

A few weeks ago the local organ of Nationalism made quite a habit of quoting passages from the “Mercantile Gazette,” but the practice was dropped very suddenly. The reason was, as we have pointed out before, that, with the approach of the election, the “Mercantile Gazette” adopted a definite stand in favour of the Reform Government. This journal, representing the business interests of the Dominion, takes a commonsense view of politics, and obviously is forced to the conclusion that if New Zealand is to make progress lhe Reform Government must be kept in power. The “Mercantile Gazette” compliments the Prime Minister on the success he is winning. “Mr. Coates,” it says, “must have been very gratified with his visit to Christchurch, and left there with the conviction that he had scored a success. . . He addressed one of the greatest audiences which have ever filled the Theatre Royal, and received from first to last, a hearing free from any interruption.” It is evident that Mr. Coates himself has made an impression on the “Mercantile Gazette” and has convinced it of the wisdom of his policy. The financial journal declares that he “put the position of the country clearly before his hearers. He discussed the position of Dominion finance, explained why the national debt had grown, emphasised that the taxpayer was not adversely affected by the increase, except that portion thereof which was expended on the war. Mr. Coates. . . was on sound ground when he said that, come what might, he would not be satisfied until direct taxation was down to pre-war figures.” Not long ago the “Mercantile Gazette” was inclined to speak critically of the Government’s borrowing, but Mr. Coates has disarmed its criticism. It states that the Prime Minister pointed out why money was borrowed for reproductive public works. “Mr. Coates’ contention is,” it says, “that the moneys the country has been borrowing, and proposes to obtain, cost the taxpayer nothing, as the public works to which those moneys are applied, produce a net revenue sufficient to pay the interest, sinking fund and charges. Mr. Coates is not prepared to spend money upon public works unless they will pay interest on capital. He gave an instance in which he was asked to commit the country to a large expenditure, but was unable to comply. He had brought before his notice, he said, the condition of two or three settlers who had taken up sheep country in the North Island. They had located themselves in a mountain valley, into which wheeled vehicles could not enter. He determined to inspect the locality personally, and, after several hours spent on horseback, arrived at the place. He found that the maximum number of sheep which could be carried on the lands was three thousand. and that to construct a road for the convenience of these settlers would cost the country twenty-five thousand pounds. He was unable to agree to this expenditure.” The “Mercantile Gazette” lias done the electors a service in reporting this portion of the Prime Minister’s speech, for it will impress all who read it as it has impressed the “Mercantile Gazette.” This publication adds that the Prime Minister’s speech was addressed to an audience which “appreciated his candour. acknowledged his sincerity, and made no adverse comment. The address was that of a statesman, and was unadorned with rhetorical redundance.”

It is the opinion of the “Mercantile Gazette” that “his hearers left the theatre with the fixed belief that if the Premier were returned to power after the election, the destinies of the country would be in the hands of an earnest, straightforward, and able administrator, who would do his best for every member of the Dominion, without, regard to rank or station.” This is the opinion of an impartial observer.