TOPICS OF THE DAY

Evening Post, Volume CXII, Issue 96, 20 October 1926, Page 8

TOPICS OF THE DAY

Economy speeches by the Minister of Education have caused the Educational Institute some misgiving. It is unfortunate that, in a protest voicing its misgivings, the executive of the Institute emphasises "the necessity for the creation of a public opinion unalterably opposed to a policy of economy in education." It is really economy that is needed, meaning the judicious and frugal use of the funds available. We have no doubt that the Institute recognises this. Indeed, the instances that it quotes—building, maintenance, and health grants—indicate that it desires wise expenditure. But the Institute pronouncement would have carried greater weight if it had made it clear that the efficiency of the education system is not to be measured by its cost. There is scope for considerable reform, particularly in the reorganisation of the technical and secondary systems. It is high time that such reforms were instituted, and that we ceased to measure educational efficiency by its expense —and to consider Tather the value obtained. * * • To the general public the new regulations which will operate when the Weights and Measures Act of 1925 comes into force on Ist January next should prove welcome. At present the Department of Labour is circulating regulations in draft form so that objections (if any) may be made by traders, manufacturers, and others concerned before the new provisions are gazetted. The Act hitherto, in force has required merely that weighing and measuring appliances used for trade shall be correct, and stamped as such. It has not made it an offence to sell short weight or measure, nor has it purported to control in any other way the manner in which goods may be weighed or measured. The sale of correct weight and measure of certain foods and drugs is governed by the Sale of Food and Drugs Act, which is administered by the Department of Health. While these provisions will remain in force, the now Weights and Measures Act, among other things, will require that no goods shall be sold short of the weight or measure demanded or represented, and that, with certain specified exceptions, goods sold retail "by weight or measure shall be sold by net weight or measure only, that is to say, the tin or other package shall not be included. To supply goods in short weight or measure is a moral crime for which there can be no condonation, and for that reason honest traders can have no desire but to support the now regulations. In tho estimation of the public tho reputation of the trading community in general may be impugned by the unscrupulousncss of a few, so that a tightening up of the regulations and inspection is in the interests of all. • • • The strength of the investment position of New Zealand insurance companies, as illustrated in the telegraphed figures of tho South British Company and the balance-sheet (published last July) of the New Zealand Insurance Company, is touched on to-day in our '' Trade and Finance column. These insurance companies had their early straggles, but, in spite of criticism, they were evidently able to build up a sound finance, holding the balance fairly between tho claims of dividend and re-, serve fund. At any rate, to-day they emerge with reserves possessing a divi-dend-paying power of approximately equal to the dividends paid, and conferring a margin of independence against the fluctuations of the insurance busi-

ness and its waves of competition, ; depression, and prosperity. The position contrasts strikingly with that of the farmers' financial organisations, particularly the co-operative ones, in which there has been too much tendency to extract everything possible in prices for produce, and to starve capital (often under-subscribed) and reserves. The high pay-out policy of ,the co-opera-tive dairy companies is now confronted with the test of a low London market, and if there is a margin to work upon it is certainly in some cases very hard to see. Dairy company finance and insurance finance may not be comparable; but no class of finance engaged in production and marketing <an get away from the old but sound rule of providing against the rainy day. • * • Whether it is the duty of a county council to aid in commemorating Nelson Day may be arguable; but there should be little scope for argument upon the reasons advanced by some members of the Waimairi County Council in opposition to a proposal to send a wreath. It was contended that it was waste of time to commemorate an event that happened a hundred years ago, and that we should not celebrate a victory over our Allies. But these reasons are only a little, worse than those submitted for sending the wreath —that it would make a job for someone, and that the council had to retrieve its good name. It is surprising to hear the question argued from these points of view by men who are members of a public body and may be expected to give an intelligent lead to public opinion. Surely it is unnecessary to state that Nelson Day is something more than the commemoration of a single naval victory, or even a tribute to the victories' of a great English sailor. It is a memorial of the glorious development of British sea power and a reminder of' all that the Navy has been to the Empire before and after Trafalgar. It has' been' said that we in New Zealand are unmindful of what we owe to the Navy. If the opinions of the Waimairi councillors are in any way representative of public opinion, we certainly are.