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Hokitika Guardian, 28 September 1917, Page 2

Ain. Box ait Law recently repealed a warning to the people of the Old Country not to bo misled by the false prosperity of wartimes into misjudging our financial ;>osition. “It cannot lie imagined for a moment,’’ he said, * that a country (‘an go on spending money in war at the rate we are doing without serious disadvantage. The disadvantage will lie realised more completely when tho war comes to an end. As long as we are raising, money by loan, and money is being spent and industry is going on we are living in a false atmosphere. It* will only Iki when that comes to am end that v.e shall realise what the position will he and it will ho a position •vhich will require all the skill and wisdom which this House and the Govern-

ment can exercise to prevent a serious situation arising oven if—and 1 assume that, of course—we, have won this terrible war. In the meantime we have to finance tho war in the way which will do least harm. T, for one would have liked to raise more money by taxation. Considering the expenditure and the length of the war, the credit of this country has been wonderfully main Gained, and that, l believe, is due first to the willingness with which the people have submitted to taxation, and, secondly, to the readiness with which they .have lent money. It is all very well to say that people who have lent totlio State have got a good investment and are thinking only ol themselves. That is not true. L

know that somo firms wont to very great lengths, not only inconveniencing themselves, but also taking risks, in order to help the country. If the occasion comes for another loan no one will dream of getting the same amount as last time, but I am convinced tin' wo shall got the same generous response from the people with money to lend.”