NAVY LEAGUE BANQUET

Press, Volume XLIX, Issue 14839, 3 December 1913, Page 4

NAVY LEAGUE BANQUET

THE HON. T. MACKENZIE'S SPUiUJd.

CULTIVATING WASTE SPACES.

traou oca own correspondent.)

LONDON, October 2i. As representing .New Zealand at the Navy League Hanquet, the High Commissioner nad a markedly coiaial reception on rising to reply to the toasfc of "i'rosperity w> His Majesty s Oversea Dominions." Mr Mackenzie eaid that since he last spoke at that gatnering, many great events had occurred. The one most outstanding in connexion with the Navy, as applied to Australasia, was the fact that the Australian unit was now actually in being. This year had also witnessed the departure of the New Zealand Dreadnought on its world-wide cruise. Wherever the vessel had called the utmost enthusiasm had been shown, and that enthusiasm reached its climax when she had arrived in New Zealand. The enthusiasm and songs of welcome then were unprecedented in the history of New Zealand. Out of a population of a little more than a million, 3C0.000 visitors inspected the ship at three ports alone, and on one occasion 1500 children travelled 500 miles to see the Dreadnought. The voyage of that vessel was a demonstration and a revelation, showing how thoroughly in touch with the aspirations of the country was the movement of the Ministers in making that gift, and how heartily was that movement endorsed by the people. (Hear, hear.) Regarding military training, they wore carrying out the principle of training their people for defensive purposes, and marked success was attending the efforts. The only trouble— and £hat was really not great—arose from the impertinent interference of irresponsible nobodies on this side of the g'obe. What amazed him was that papers of standing should so eagerly admit to their columns the limitless falsehoods and misrepresentations of men who wore opposed to all form of preparation. But the training was going on nevertheless. (Applause', and a Voice: "They don't know the country!") No, those writers did not know the country, arid thoy did not care twopence for tho country. Toy belonged to the class who were the friends of every nation except their own, and would nt any time be content to sco New Zealand, or any other valuable'possession, pass under a foreign flag. THE FINANCIAL STANDPOINT.

Coming to the question of borrowing, Mr MacKonzie said: —"It is impossible for the oversea dominions to develop at the rate they require to develop it they are to keep pace with competing nations unless tiiey are able to obtain advances for that purpose. The keen competition now existing will not adrait of the colonies waiting until their own surplus earnings are sufficiently large to carry on luiure development. We have, therefore, to obtain in the form of cash the fulcrum necessary to carry on our work. Now this position .s very much misunderstood, and even misrepresented, at the moment in England. It is made to appear that if a country borrows new capital, or renews existing loans, ifc is extravagant and wasteful, and the public 6entiment should be against it. That would be perfectly right if we wero borrowing money for the purpose of carrying on the ordinary functions of government—* lunctions that should be paid for out of current revenue. This wo are not doing. Ou tlio contrary, wo have takon from current revenue during recent years surpluses Amounting to about £10,000 000,.and spent that sum ch-eil.? on works that are returning us a substantial interest.

"It is impossible- to reap without sowing. It is impossible either to cnltivai.o a farm or a country without the necessary capital. x\nd this question of .cultivating and peopling the waste spaces of the Empire is as much a question for the Home Country as it is ior those enterprising peoples who are managing thoso territories. At present Britain spends vast sums of money in main'aining her military outpos c. such as Gibraltar, Malta, and other places. Those outposts are important. So also is it important that the unpeopled poss scions of the Crown should be filled with an industrious population. It is a weakness in the Imperial armour to have land unpeopled. The inhabitants of these countries can manage the work of colonisa'ien better than any others, such as Downing Street, possibly could. If the money we borrow and invest does not paj its interest in revenue, wo do not ask the British people to boar tho difference, although wo are car-yins British influence to the remotest onds of the earth. No, we tax ourselves to pay that difference. "Lf»t us look at Ms question from its widest aspect. What do these profitable investments accomplish for the British man having money to invest. They almost double his income. When the rate of interest on consols vria fixei at 2\ per cent., it was thought that that would be about tho par value of money. But now good investments aro obtainable abroad at over 4 per cent, thus nearly doubling £he income of tne B.itish man who invests in stock. Without the outlet existing in your own po sessions money would not b"e so dear. And your possessions do more for you than that. They find outlet for your own people and create markets for the goods that are manufactured and produced in the Old Land. Wβ confine oar orders largely to British goods and give preference to British goods, and th« return I hayo shown you indicates ™"*k Although there are only 16,000,000 white people in the British oversea possessions, as against all the r 6s * Of tne world, we were responsible for naif the increase in Bri Uun\s trade .ast year. Then there is the widest question of all—we are filling up theso v »cant spaces with inhabitants who are willing to train and defend and 6tand shoulder to shoulder with the Old Country in.any emergency which may t&reaten our united intereste."