The Press Thursday, March 12, 1931. Restoration of Hawke's Bay.

Press, Volume LXVII, Issue 20184, 12 March 1931, Page 8

The Press Thursday, March 12, 1931. Restoration of Hawke's Bay.

The JPrite> Mmurtert orrttae tf fte Government's proposals to restore Hawke's Bay, as reported yesterday, has two specially good features. London is not to be asked for a loan, which would have" been dear at any price; and the plan looks beyond the damage that has already been done to future risks and Prepares to meet them. It may also be added, as a third merit, that the Government is. acting with' considerable restraint. A million and a half, though a large sum, is not nearly as large as would have been raised if hasty advice had been followed. Mr Forbes does not pretend that it is sufficient, and speaks of borrowing next year; but if external borrowing is necessary at all, it will at least be possible to calculate the amount required with much more economical precision, while the steps taken by'the country to help itself will have proved that it is not a resourceless borrower. Proper restraint is also 'shown in the Prime Minister's warning that the State cannot make good all loss. Whether aid is given by grant or by loan, it should be considered neither humiliating to the assisted nor ungenerous of the Government if the supervising committee which is to ■ be set up enquires carefully into individual losses, needs, and means, and measures the nature and extent of accordingly. But though the plan has these general merits, it is not as it stands wholly acceptable, or quite clear. If property is to be given, national security against earthquake risks, the principle of a national tax on insurable value may perhaps be admitted, notwithstanding the fact that the risk is less in some, districts than in others. What is not so easy to admit is that the rate proposed is equitable. No doubt the Government is anxious to restore the reserve fund as soon as possible and to begin 1 rapidly' accumtilathrg the national insurance fund, and for that reason has | fixed the rate fairly high. It may even have been thought that within a few years, when the fund mounts to a million or so, the rata may be lowered and a less rapid accumulation suffice; but it would be much fairer to present specially .in difficult times, to take a longer view, say of twenty or thirty years, and to scale the rate tlown. Even though it is impossible safely to assume any \ interval of immunity add" though' this' seems to recommend haaVit a rate which I could b&jnaiutained over a long period wiflj&i-WfWsipn and which would;not -mafcJi'th^%n<l grow,by f |«apa as to tempt Q .hungry Minister t&r - Finance of river-insured properties may bo Veriothat > - be>'T^' J wtrefulj or , it will put into force 4 measure under which , provident will BWeat othej-s go free; and the wider the definition -of " propel," the greater thisirijustice will be. Finally, although the ' of insurable property are < cblled on,to pay fortheir better protection, it is thatthey* .should pay for prospeirityr " a : a national oug]a to ba , ,toJfC|fc|ter in\ ai general defini-< j conditions and a disastrous;, f ,ha*e before parliament - iu^^)^h-^ : oa^tftilfll' only.jtf it.wnv S: ■ and forgets, Those of Parties, or $t ; least is-ready toplace' thexA seconds, ; Sujcertlie Spe'ecjt contained nothing for "»hid 'to9t , i been well 4eceS9]Miy to empljf&ise ag&n the critical importance , ( legislature's task, i 'thoroughly yet should%& don« t expeditiously. Parliament . to. | measures- providing , for wage r£- * s^|oris/ reyMi<m\ I so®-: 1 doiirt' ;dwards,' 1 sfibntfoljofc tjjfc system, t dind Itt fitiah&al aarfahS^^ea^B j l it' donld®' .o*,* kadss-ii »- otigfei'still to be flght:'i^!|'B^! .this' challengeable W Qa&hmfat'i le&Mative, t fiumpleted : effii\ 'ton, dnce^breaks timie.; i ''TBS & not, too much 4o*expeet,j£tlie ( iJnforta- ; * not: allow ex•l* t*)' r, ,^e; v very confident, and ' there is ,a pireat of wanton % .Labour"Pauty precipi- *'* ,'taies a J no-confidence debate, it will of be acting as it is entitled to; ' ,b% a motion . serving' ' 'Joa&ffetyiUi hh excuse tot offering oppo«Uion tib this Governnvent's ■ programme tojd<# r iiistead of once would be. intoler- | able. The business 1 session is « \tij : quickly and effectively with | proposals, to accept them, or or, reject them;, snathe, properly resent any waste [< political shata^flght. i||te ny ''""T O 1 Price 6t Wbol. 1 jOihough "the tjable- make we most' of the' jump in wool in Lon- ' 4on, it is real, and vastly encouragingi -Jaken' in (Jonjunction .with the -sales irt , Christclnirch, Dunedin, and , In--1 i VettMtirgill, it will giw new heart fiwi

to hundreds of farmers whose year's work has gone for nothing. But it is necessary to be careful- as well as more cheerful. No one knows yet, or can know, how far the improvement will go, and we do know how • ■far the slump has carried the. opposite way. .'lt would be foolish, and extremely dangerous, to Suppose that efforts may now be. relaxed, and tKat it is 'possible to be prosperous again before we have i*epaired the damage already done. To the extent to which the repairing has to be done by Parliament, it is indeed necessary, , and urgent, that wool, for a week or two,, should be forgotten. It is imperative," in any case, that the Prime Minister should forget it until his economy, measures have been introduced, and that the public should frown on any attempt by opportunists to make a political use of it. The outlook is so much better than it was that the temptation to politicians will be greater than many of them will be able to resist; but the actual position of the Government and of industry has of course not appreciably changed.