WATCHDOGS OF FINANCE.

Hawke's Bay Herald-Tribune, Issue 119, 5 June 1937, Page 4

WATCHDOGS OF FINANCE.

The average ditizeii, the "man on the street," has not got very much time for chambers of commerce. If he takes any thought at all of their existence it is as aSsociations of business men, mostly of the higger type in the commuiiity, worlcix\g together solely for the promotion of theif owix partiouiai? interests. It is not, of cOurse to be said that these interests are in aiiy way loSt Sight of, but at the same time the chambers of commerce fulfil very many other useful purposes. Indeed, even in forwarding the intei'ests of their own members thev are doing sometbing for the country, for they are fully repl esentative of most of the industries and trade tiopn which the country lives and cannot do a very great deal for themselves without doing scme good for others. That, however, is putting the most sordid construction upon the reasons for their existence. As a matter of facl, throughout the world now, it is freely recognised that these gatherings of business men exercise funcfcions that have become essential to the conduct of its commerCial activities. The great pity is that in a country like thia, whose prosperity depends so much on profitable prixiiary production, its farmers take so little iiiterest in the doings of the chambers of commerce, in truth stand aloof from them as if there could be nothing in comMdn between them. This is manifCStly a profound mistake, and if there were SOriie very Tnuch more intimate i'elatiOnS established between the farmers' unions and the chambers of commerce it would be all to the good so f.ar as the general welfare of the cotfntry is concerned. For the farinets it would mean an introduction to businesslike methods that in these days are just as much needed on the farm as iti trade, while for the trades-folk it would give them some better insight into the difficulties with which the farmers havC to Contetid. In very many resp'ects their interefjts are very defittitely mu tuai and not inimical to one another, ajs so many, CSpecially among the farmers, seem to think. Of very distinet cottceril to aH is the question of nationai finance, and never mere than at the present time when a very great deal of what isf ddmittedly gdvernmental experimentation is in progfess, In this eonnectxon there can be no question as to the need for a watchful eye being kept Upon what is going f orward, and for this there are nOne better qualified than the executive of New Ziealand's Assoeiated Chambers of Commerce. No matter What dolour of government may be in power compCtent discnssion and criticism of its financial methods is called for, When a government is as secretive as ihe preseilt abotit what it is really doing with the country 's eredit and financial resources it is doubly essential that an expert and vigilant watch shotild be kept. This purpose the Assoeiated Chambers of Commerce are doing their best to fulfil, and stxll xn no carping spirit. It is obviotis that with a government so strongly entrenched it is to the interests of business nxen to work in With it aS far ag is praefcieally possible. They do not seek iix any way to inflnenee the goverxxnxent's general IhieS of policj^. What they do ask for axxd wliat they are entitled to have is such informatiOh as to the government's operations and intentions as will enable them to shape their owrt cOurse with something like Confidence. As matters stand, this information, almost as much xxeeded by the farmers as by tlie business men,- is denied them with the inevitable result that it is quite impossible to reorganise on any permanent footing in order to meet the ehanged conditiens that have been created. So mysterions, indeed, is the government about its handling of nationai fixxance,- both as to what it has done and wllat it means to Ro, that many are beginning to fe'el that it does not kttoW itself. General assurance that everything is right as right ean be, unbacked by tangible evidenee, is not going to dispel thttt feeling. We all all know, of course, that the government succeeded last financial year in extra.ctixxg a reeord volurne of taxution from the people. That, however, is : A cold comforL