The Waimate Advertiser. PUBLISHED DAILY “Multum in Parvo." SATURDAY, JULY 31, 1920. BUDGETTY.

Waimate Daily Advertiser, Volume XX, 31 July 1920, Page 2

The Waimate Advertiser. PUBLISHED DAILY “Multum in Parvo." SATURDAY, JULY 31, 1920. BUDGETTY.

Gladstone the Great, when he was Chancellor of the Exchequer,, was went to occupy five hours in delivering his Budget speech; and during- that pirolonged space Itewas able to, hold the House of Commons sf ellbound, while (with the aid of. only a few notes) n® “made figures talk” and compelled financial intricacies toi obey the control Of his conjuring wand. Oiw Own House would hardly be able to stand Mr Massey for five hours. Two hours of financial expioniti.iii Irani him is more than enough. With the ylots-sitllo exception of Sir Julius Voge., New Zealand has never had a Finance Minister who could impart vivid interest- to |th c annual Statement. As a maJR' of fact, <W so-called Budget /.speech its nojt a .sfteech at all. It- is U i|3i-rn.-al written documents-dull, stodgy, and overweighted with commonplace dissertations on all manner o f departmeiiltel topics—and it might suitably be “takein. as read.” If it were ablaut a thi-id of th® 1-englth there might be seme chance of it I being studied toy a con:idera’ble .setton of the community; for we do licit deny that- the mass of 'ver--Mage cavers some fate esting and important features. Mr Massey was - able to show a /siurtplus of more than two-and-a.quarte'.' millions o.i ! the year’s ape ration®; but this reI suit does not. call for enthusiastic ■ congratulations, for it. is obviously ; due to the piractice—perhaps we I should say the trick —of underestimating the frcspective revenue. By - the same means the surplus of £BOO,OOO now -predicted for next year wilt prelbiably turn out to bethree times that amount. There is, -or used to be, much virtue m that - blessed word “surpiluß," but th° spell has lost ite ancient, power. With previous balances Mr Massey actually has seventeen -and-a,-half millions in hand; tut the war’s legacy of indebtedness, and other obligations, make it impo'-sible for him to. offer any, reduction of taxation or evenrto hold out. a premise ■of relief in,./the, near future. Indeed, there are hints of increased impiosition; and the new postal rates are not a hint but a reality. In the cireumis'ances there is nothing to do blut “grtn and bear it.,” and ■perhaps to, give thanks that itJliings are not Worse • By tjie way, every man., woman and chjld is now a public debtor to thq, tune of £165 3s, whereas six yeans ago- the inddkt«dness per head was only £9l IQs 2d.