A POLICY SPEECH.

Dominion, Volume 7, Issue 1990, 21 February 1914, Page 6

A POLICY SPEECH.

BY SIR JOSEPH WARD.

SHORT-BATED LOANS.

WHY THEY WERE RAISED.

(By TekeriipJ!--Preji AHAel&Uen.l : 'Wjnfon, February 20, Sir Joseph Ward addtes-spd' his con-stituents-at Winton to-night.. The hall was packed and Sir Joseph' Ward was received with an'enthusiastic ovation. He was introduced by the Mayor, Mr, Wilson, who complimented tho Government o-it ' the manner in which this recent' strike wa-s settled. Sir Joseph Ward.. who was loudly ciie&red ott rising, said ho took tho demonstration »s an evidence of tho fact that there was a good feeling between them. He last addressed, thom as Prime Minister and sifico , then great changes had taken place end it was to. these changes that he wished to pay attention.' The Liberal party had nerer been defeated at the polls or in the House, He was a strong believer in mafority rale, and so long as the people decided who was :to nilo lio.and his colleagues would accept'the judgment of. the people, cheerfully.' Stating the. position after the last election, he said that the Massey party were in a miflority by 108,872 votes,-.so that it was beyond all question that the Massey Government had riot : the eatoort of a majority of the electors. The voting st-Tenctli of tno Liberal patty was reduceil by tho absence .of'.two members of the.liberal party, and he knew what would bo the result- when.he faced that division fare'it'was taken. (Ap'pkuse.) The Massey GoVermneni had- no mandate 'from the country a : nd the position, at present was most, unsatisfactory. He eonsMeretl tßat any meintier of tho Government . who'- became; a member' of ike CaWnet shoijld- go beforft tho 'electors again v i&- order that they might bo tested; ..belofe tfhfi-ir' masters and mistressos.. •' ' ■'■".■ ■ ■':'.- ' Flnsncs. .Regarding the criticism of the'Mmister, of Finance on the financial icy. of the Ward Government, Mr. Allen had- said that he' (tho. speaker), could have,'raised a, Joan fof .ten vears.before leaving <tfficj>.. That w'as perfectly corrflfit and he wanted to; state his reaSpiis w]>y.;ho did.not.-do-so'.. ■ fho-iae-t. W4S .that, -during. tho last. G-enorai.-JEfcqtioh ho.w»s,.on tliereattor of tho last fivo miHi&n lpa-n,. pursued - from the .North Ca-fkr to .tho- liluff with vindictive ■ criti&vsm about the raisins, of that loan. When the position became frfos© between the. parties ,h» : thought it bettei* to leave Over any measures tot -borfowinfi. He ; -might, hare raised any-, a-inount he <Msire'd. If they .looked up the/re.cofd they i\;ou:ld,find thflt- bfl.fore-:ieavisg office, he arranged-for-sufficient monfey-to carrjr- on, the...business, of' the-- country,' HatJ'he known that there: was going to be...a loan of sisty. millions ' and anwie-f of tea. millions raised by other countries in the-.'.01d Lan 4 ho might tett>.:r,aisgd a -loan .of -four mffliofts: at Home... \vbaWwould have been the.re-sJU-t?, He,\™jil-dlw-v.o been.pilloried by the Rcfor-m pa-rtyjthrosighout tliocoiiiitry. ..-rhe people-.in-■.the Old Country who lent money to the Dominion were not foots. They ftcognised that the as* spts of tins 00-Mriry w-erd great, and lie heW that wlic-n they had succeeded in ■ranvfirtiiig loans of 0, 5, aad '4 per eetrt into 3| per cffnf loans it must be .realised, thrt-i ah cßownous savMg had &en One of - the great--labours- the Xjpefal party has had before it- was tho raising of bniis at aj per ficfit, and t« convert loaas. which wore at a higher rate to 3J cent. A J per cent addition upon nve.mitions meant £25,000 ft year, and if ho, had 1 raked a loVit for forty years it would have- cost the Ux-pii-ycrs.. of-tho. country a miliiofl! ' Boca ftso. he woflt for a short-dated 3a a n for Mμ years, thev would find tho men of tfiis country deelaiminß afeainst 3iim. Kβ Wanted to say the- only object thai; the Treasurer of tho. .eouivfcry hatl' in going tor a short-dated loan was to servo the people s interests, Up to a short tipjo before ho went out of -office thflT had $t\ dl ? c ?% }il tl» operation to .which- ho had referred-. If thev had bee.n-fooltsheno»gh to give' half,per for their loans, the taxes would have been ihcregued. He was proud of the relief that, his Government- bo.d giv*n to the taxpayers of the coan-try, ; Hehsd «o objection to the present Minister of Finance doing the Very-test lie ooyld to: obtain the' best results, and he (the speaker) would be the first to congratulate him if he did so. Ho objected to Jits-' system of orfhig fitinking fish ' against .his predecessor, Tho present Miiiis-ter's idea Seemed to b& that he shouid de«ry everyth-ing any-one-else had dono. Hβ desired to say that the Minister of Finance would not be-aßte'te shosv this year, the' surplus shown last .year.

.Be-v-ertitigtotbe question <rf taxation, Sir, Joseph Ward said that the Mas' spy Government had, as its.own .records, star ractoased taxation'en the peopfo of this country by Wβ. ad. per head. Tins fact remained in spite-, of all criticism, and the real point.was that this came fro© th-eMas-se-y (jtovwnteent, who had declared bbfctc the last election that thej- would, reduce tho taxation. Naval NHpy. . ' 'EtEArdtog the Ibtal n-avjy Sir Joseph Ward said.thatif tha schenio the Gow Moment-proposed ..to carry out-were foHow.eiJ, it would have grave ■ coijsettuenees/He was satisfied that the most satisfactory e&nr-so for this country to adopt was to stand by tbs British Navv! In' Australia, Admiral JJenderß.on ■ had told tinea that a portion of the Navy would test £.5,300,000. a. year. Ho would tell them what-the "Age." gait). The "Age" said that if- the present policy in Australia werfe followed thoy would be'.forced to pay £o,[)0O.OOO . for- their psvy, . Three suceessive- British ■ J-tiiirs-tries had doclw«d in favour-of cue Imperial ffavy. and the* should have the best ktiqteletfge <jf what svfl's If 1 a co-operative navy : they' could, have it at a lower cogt than, the local navy proposal

■:"■ ..' the strike, , .. ■ ; ■; ■ Referring, to'the ■strike., 'ha..'defended: his . netkm,. arid; rWI a- letter, froft Mt. James, Befann organiser, with the ob> jeot'of showing hpw public cpittioit-was hiiirtu.factijred.' He ■ was ■:. certain that tlie strike,could havo been-settled-when the-employes aiid employers coulel , nof agree, aiffl settled in.a day.instead• «£ tho time it-look.. H» statel .that as soon, as the, strike was declared Tie calleii a meeting of the Liberal party, aiid they decided that , they- would not do anyfchjng to emba-frass the Government \j.n j>ho eoiitpol of the strike affair, (piloting- his opinion in the Souse regarding tho-in-miknts in' tho Wcllraglon Post Office Square-,' ho said tEat . -ho ■ fi'Ould sooner : go out of |>üblic life ttinfl aggravate ail industrial crisis ift tileihaivnor suggested, and the records clearly proved that lie liad determinedly avoided making parly capital out of tho strike. Referring to the industrial tin* i-Bstj 1-16 could see no way out wHlieut so : mo raeasaio o-f State interference;' but ■capital already invested should bo protected. Emjjioyoea' w'otild require crfcmrrtigement' by sUporoiinuatißu funds arid- sick-Shie! aceiifcnt benefits. It was, ho said, astoi.iis.Uing tew anxious Coriservatives Wore to. up their jiavty, Jwt tlie Hberal party wonid take the liberty of tliinkiiig for themselves, purl ttowlil ask wlio supported the Rod .Federation party at the last' eloctfoii. ■Tile Liberal party Irad• a.hvays -lieliovod that the , laws' ,pf tire .coaintry .must 'iia fi-bey«di And tbst lAtftotunfen, , no n'siitt.eiM. whom, ©11st ie gttfdo'TTii. -13b»y

believed that they could dei godd in a, manner, that would appeal to all modcrate any sensible people, on sound'and progressive lines!" (Apjalaiise.). ■ . Ho referred-to tho tcHgthof his- service for tho 'Electorate, during..• vlrieh he said ho had. never 'hit an opponent below ti:o.;J).olt^(ap'nlajiso)— her- had he e\'or written, an anonymous letter about an opponent: Ho desired, to l»lp- ferivard tfoo' Dominion and his,-eojisttat-crtey, and hc.considcrcd-.it,.a. high privilege to bo a representatwo of tho people. There was prolonged'applause, ns Sir Joseph Ward 1 had finished his address, end Jlr. ' John Eraser ' come fai , - ivard'and ftiov«d:."That this large , , and representative' meeting' accord Sir J<JS:eph Ward-'ft".very hearty y&t<s -oj thanks for his lucid address, -ana-ex-presses itu confidence- in him as their rei>ros(Mitativ« ifl Parljanieiit." A -section of tho'gallery sang "He's a Jolly Good Fellow" as tlio meotiiig broke up.