NATIONAL RECONSTRUCTION.

Press, Volume LXVIII, Issue 20496, 15 March 1932, Page 11

NATIONAL RECONSTRUCTION.

JO THE MHTOB O* THJS PBBBS. ' «■ —That portion of the Economists' • rt haß been released is a gurvey of the course which r ; gheltcxed sea.s of the past decade. It ; - it dear that if we are to face "Jl course of the future atormy waters, it is absolutely " Msary t° lighten the load by draaJ w onomies in our purely administive and social services. It does not J\ w ith the effect on the country of lanre excursion into socialised busing Ventures, nor the effect of Gov- , " tß t control Of wages. If the efXof ou f ventures into railway i 5 ownership, with -works yjt most extravagantly on borrowed and of management influenced [ ipojjtical considerations are considjrtij jf, further, the taxpayers' liability public Trust, the Savings Bank, ' fitjte Advances, Advances to Workers, iritt their ® tal;e g uarantees interest jjd. principal are taken into considera(wigs well as the waste of borrowed j£«r Which has occurred under the sys-, hm Ml construction by the Public Works ■ jjLftment, it will take little imagi- : nriion to visualise the losses which our big excursion into socialism has loaded on the taxpayer. In times of prosperity the'public havo taken our mtem for granted. To day it is being jloTjly but grimly realised that tha mats the country holds against the borrowed are not productive of the > jjttfegt to meet the charges, that the 'a assets will not cover the farrowed capital .expended, and that behind these and the State's guarantees for the various investments made, stand the whole assets of every member of - tip community as joint and several guar- ' The liability is tremendous and it is «oiutitßtionally unjust that it should i bar*.been increased. It throws into i. tjjEai'eHght the weakness of socialised \ jwipm ventures. The system with the ' "ii«lM>ehind it of service for the people, i -Sexploitation of the people and retained for tho people has rc-h-"nju^laweakened service, exploitation, Uit jaj-lOMee. Had privato enterprise so i y-<joa»teocted and managed tho ventures i '"jjpbarked on, bankruptcy would have re- | *■> flftaii, but the loss would not have been ' 11 State affair. Had private enterprise, i V iader effective control, managed efficip'4'e#tiyy the service to the people wouia :.-th*ve.|)een-better than bas been poaj the State. . ► Tb#;f«t J remains, however, that the ; -? State hu embarked on these various ■ £ has involved the country V-iij jfjiotu lqites and heavy guarantees, 1 'f 1 and that has to be faced. The i, r lenolixf. placing the railways under a i *' boanLof ljjiiwgement has been that in t a been a reduction q! a miHion a Twfrin its operating ex-' petoei, ~Pfli(ij)lj|:lfi|ther savings will come, a* tbeyj»|»t#r the business. It % - teemi a result gfves hope' that each and business venture treated, removing pjpartmental management, the £ various boards of oven the Avhole of the j aqrii/jjMld be revalued, the capital |Wii<Kj)if-been loßt, written off, and account whuA the counprovision to gradually f external debt, aad that the be expected to pay their reduced capital. in our purely administraand reforms in the manState businesses Mill jfWPfenv result in putting more men wjMroit'is inevitable. I believe, there-:-»at tho measures should be acby a big constructive policy. day's approach nearer winter iSIMalt problem of unemployment •" is 1 nearer, yet the Government 'lijKi&red no policy except to hint tremendous increase in tvpllli When the manner in which fqgMMfllfons already drawn from the taxbeen wasted is reviewed, is considered that these millions jjjSrajjjjaught the solution of the/probnearer, the taxpayer may well at the prospect of further being taken from him to be without adequate plan. iaMpay ask whether there cannot be »sl|Pjpr way under which the wealth ■MMwledantov inav be developed by the of men, in a manner |§g|pl shortly lead increased acthroughout the land, increased inHplod in various fields, hope for the fresh homes and fresh ||H§||iliope for the taxpayer in the ■HHDwb taxation by the settlement HpAfn. -1 suggest it is worth coniH»kt_whetber such objects would flßßMileved by the formation of & HBHQ&Pqyelopmcnt, into which' the HHRIWt levies should be paid and ■HHErowd finance tbe, various de-

I sets possible in the counsuch could be recomprovincial committees land, reported on by the and financed with adsecurity of the ventures , and against the assets The drainage of swamps, bush lands, schemes such jarei reclamation, the he prospecting and delining finds,-possibly the of our secondary indusjll be so handled, and nt to the point of occu>loyment for a diversity rding to its trade. The tlay should be for New f and New Zealand ( as the economists hint to increase our currency le that such a courseised by Parliament withan extent limited in decking of the work being and with security sellation of any issue by lent to the bank, ges would be that the Unemployment would be i To-day's difficulties an opportunity, and the phole country put into question of relief wages t'a control of details ty, and the opportunity vil to cure itself automen would have hope, Br see relief of his burur future. My suggesdbably necessitate some the importation of ion of borrowing, and op in our labour laws. Of '• of itf An absence of |#r Wages could not pos■e difficulties for the Ktlqus position to which fstem of control has ,Socialised business and. aye landed the country Iffsly the time has come individual endeav-