POLITICAL PARTIES AND THE FUTURE

Evening Post, Volume CXIV, Issue 89, 12 October 1932, Page 6

POLITICAL PARTIES AND THE FUTURE

(To the Editor.)

Sir, —By his letter in your issue of Stb. October it would appear as ij Mr. Leonard McKenzie is not above making a wilfully misleading statement, when ,he asserts that a few weeks back I stated that the future Government of New Zealand would be Town versus Country.

A few weeks back at Danneyii-ke an old political and Press friend asked me if I thought Coalition would hold- >! together over the life of the present Parliament, and were there, indications that Coalition would ultimately end in fusion. Sly reply was "that I'did not think there was1 any serious danger of a break,taking place between the parties to the Coalitionj at least during .the life of the present Parliament; but if a rupture did tak,e-place f personally felt that there was more'danger of its being along City versus Country lines than along old Reform and United lines, and that unfortunately a considerable Section of _the city Press was responsible loij assisting toward such rupture, while political Labour was taking every advantage of the City versus Country feeling which it was useless denying had rapidly increased since the General Election." ,

, Now, as to the Bank of New Zealand: I am well aware that in the main the bank's shares are held in comparatively small parcels, as I am also well aware of the assistance given by the Bank to the Government and people of New Zealand. The same truths, however, apply equally to Australian banks trading in this country, but they have not in the face of a world's crisis continued to pay boom-time dividends and emoluments, or trench upon reserve's to do so. This action by a bank in which the State holds a third interest has brought the day of a Socialist Government .measurably closer in New Zealand. ■■ '■■''.'. ■;.■•■-■

It was not alone in farm land values that inflation took place during the wartime boom. Bank shares, businesses of all kinds, togetherl with '.wages--and social benefits, were equally inflated. No: matter, what or where the'inflation of the past, New Zealand* national problem is that our foundation.industry,,Tjndßr present conditions, is incapable of paying its way, apart altogether from mortgage inflation which took place in the industry during the b00m.,: Collapse of a country's foundation industry soon most mean allround collapse. This fact isf.not yet fully appreciated by more/tity men than Mr. McKenzie. Millions upon millions .of acres of New Zealand's' pastoral farm lands over the past 'three years hare failed to return; working expenses and taxation, much, less mortgage or any other interest. During the • present session this fact has been: made abundantly, clear in several able speeches, but; speakers in Parliament must now .-. descend to personalities' or Billingsgate if "they expect niore than a few lines in even Wellington's city Press.—l am?"etc., ■ ■■•■ \ A. D. McLEOD. 10th October. ' [Mr. McLeod'sl concluding statement is grossly unfair arid without foundation. In the present session of Parliament the space which the Press' can-give to the proceedings has. been'severely, taxed by the necessity of presenting adequate summaries, of important reports: Notwithstanding: this;, fair treatment has been given to members according to the' relative Rvalue of their speeches. .. "Personalities and Billingsgate" have not been permitted, to loom more largely in our reports than ;they do ia the actual proceedings. If'they loom largely in the proceedings'.that.is beyond our control. Itisf.beyond ourcontrol also if, the estimate of the public worth of members' speeches which determines the allocation of space does not agree with1 the self-satisfied dictum of those who are .convinced of; the importance o£ the speeches they make^Ed/J .