NOTES OF THE DAY.

Dominion, Volume 3, Issue 911, 2 September 1910, Page 4

NOTES OF THE DAY.

We would commend to the attention of the public the movement which is now afoot, and which received such a splendid impetus from the meeting last evening, , irr the interests mainly.of the poorer boys of the city. It is difficult now .to over-estimate' the value of the work thai is being carried out amongst the boys of Wellington by-the Boys' Institute; but the possibilities. lUie.ad of' the institution, if the campaign now started is. brought to a successful conclusion,'/ completely. overshadow .all past efforts';and.- make them appear almost insignificant/by comparison. No. doubt the - task ahead ,of the enthusiasts who have associated themselves' with the undertaking is a heavy one, , but we see no reason why they should not attajn their object. Rather the reverse, for, despite the drain on citizens resulting from' the .Children's ; Hospital movement, we cannot believe that an appeal mado for so splendid a wo'rk will be"; passed unheeded; Moreover, those .who have organised the effort nave wisely arranged that, contributors may spread their payments over a period, so that the immediate call for cash .will not be pressing. It is very pleasing to note, that'his Excellency, the Governor has so quickly recognised the possibilities in the, Boys'. Institute. LOud. Islington's approval, it will be seen, is backed by the support :of many hard-headed business; ..people, who no doubt are fully alive to the fact that the movement is not' merely sentimental;- but is calculated, to gradually spread through the city a leaven of robust, manly young fellows, better equipped for .the battle oi: life and the duties of citizenship than coul'd possibly ~ haye been the case . had they hot passed under the influence of the Institute.- It is quite unsectarian; its affairs are . ably conducted-, by enthusiasts. skilled in .the handling of boys, and inspiring enthusiasm by their own splendid energy and unselfish endeavours; it deserves the support and 'assistance of every citizen who' takes the least, interest in his.fellows, and , also..', of every citizen who studies his own interests, for 'the beneficial influence of such an institution must make itself growingly felt in a community such as this. The campaign for funds has opened splendidly.; It is for citizens to see that it.is-crowned with the success it so thoroughly deserv<!s. y

Those of .the public who : follow' the Prime Minister's utterances at all' closely must marvel sometimes at the assurance .with which he brushes aside . criticism. Those who "look still deeper' must often experience amazement Vafc ; the very slender foundation upon which that assurance-rests. Yesterday,. for instance, when discussing the Public Debt Extinction- Bill, Sir Joseph Ward indulged in one of those reck-, less, assertions for which he is 'becoming more noted each session as tlie . pressure of criticism grows stronger, and which it', is desirable to occasionally place on record in order that the general, public, who do not follow financial' > questions closely, may be a-blo k> form some estimate of the value of the Prime Minister's views when seeking to bolster up.a weak case. The following is an extract from the speech in. question:— -, -,

In the'course of' the debate it had beeu suggested that New Zealand should copy the ' system ■ in force in Great Britain, viz., tho repayment of loans out of surpluses. The system could . hot ba adopted .because. tho position of the two countries was so very 'different.* In tho first place, the; margin of' surplus was in the Old Land much greater than in Neiv Zealand. ' * • \ * Now what are tlie fActs? The average surplus in New Zealand during tho last decade has been £5-10,884, or about 12s. per head (remembering that) tho population was substantially smaller in past years than it is now). During tho same decade in Britain the average surplus is a minus quantity—the deficits aggregated about £l3O,Q00;00O. This inchides' v war yoark, however., Let us then take the six years since the war —1903-4 to ( 1908-9. We begin with 1903-4 because it would be unfair to Sir Joseph Ward to include the war years when "the margin of surplus" was non-existent. We end with 1908-9 because it is the latest year for which wo have the full figures. And we may also add that these six years happen to be tho best six-year-period in the history of British finance, and therefore the' best that Sir Joseph Ward can quote. What do we find ? That the , surpluses, the bulk of which went in reducing Debt, aggregated about £77,000,000,- or only about Gs. per head per annum, which is only onehalf the rate of the New Zealand surplus. For the surpluses in-New Zealand—if they were genuineaggregated £3,5G9,5G5 in that period, or from 12s. Gd. to 15s. per head per annum. And the Punic Minister says "the margin of surplus" is much greater in Britain than in New Zealand I