PUBLIC DEBT.

Hawera Star, Volume XLVIII, 30 July 1924, Page 6

PUBLIC DEBT.

NEED FOR ECONOMY. WARNING BY MINISTER. (BY TELEGRAPH PRESS ASSOCIATION A WELLINGTON, July 29. ihe growth of public indebtedness and the need for economy, especially by local bodies, were emphasised by the Hon. C. J. Parr when speaking in the House to-night during the Budget debate. Mr. Parr said the keynote of the Budget was strict economy. The Premier was indulging in a "“go canny” policy in connection with public finance. Y hen we looked at our public debt, our local body debt, and private indebtedness amounting to not less than five hundred and fifty million pounds the need for this could he understood. Care must he taken in connection with borrowing. This referred in particular to local bodies, whose borrowings should he confined to only the most urgent works. What had carried us through so far had been the high prices obtained for our exports, but we were in sight of very keen competition from South America. An alarming feature was that our exports had increased much more in value than in quantity, and to this fact he directed serious attention.

Another matter lor serious considera. tion in this country was the extent of the public service.' There were altogether some 52,84.9 persons in the public service, and the salaries hill was about £1,000,000 per month I '. This was a considerable burden for a small country to hear, and while he did not say that the service should not be kept in a, state of employment, he urged that every case of employment must he carefully scrutinised.