hokitika Guardian & Evening Star WEDNESDAY, NOVEMBER 6th, 1918 FINANCIAL.

Hokitika Guardian, 6 November 1918, Page 2

hokitika Guardian & Evening Star WEDNESDAY, NOVEMBER 6th, 1918 FINANCIAL.

One of tlie blessings this country has enjoyed during the period ni the war has been the soundness of its national finance. New Zealand has gone througn the period of stress and strain most satisfactory and will emerge from the great conflict in a very pronounced position of superiority over other countries . When the National Government was founded the finances of the Dominion were entrusted to Sir Joseph Ward the Liberal leader, and the results have well-justified the choice. From time to time there has been much criticism of the country’s financial methods, and much disagreement with the policy adopted in respect to raising money and providing the essential ways and means to carry on. But, now that we are nearing the end of the war, we have results to contemplate as the true criterion of the situation, and what. has been achieved is eminently satisfactory. Sir Joseph Ward has announced just recently that when the war is over. Now Zealand would he the lowest taxed portion, probably, of the British Empire, and, possibly, the strongest financially. This is a notable and altogether satisfactory statement, to he given out, mig_ nesting ns it does care and forethought hi the"public administration to achieve so enviable a position. The war has put its financial burdens on this country. Sir Joseph stated in Wellington this week, that at- the end of the war the Dominion would owe £200,000,000, in addition to her ordinary indebtedness,, which is considerably more than half the war debt. The war debt- will put a heavy strain on the receipts for interest payments, in addition to the other charges. In Australia the public men are looking to the defeated enemy to repay the cost- of the war to the Commonwealth. Whether there "ill be a great deal left- for the Empire belligerents after the devastated countries are adequately provided for, remains to be seen; in any case the colonial claims will probably not take precedence of those countries the territory of which' has been laid wasl and the people for the time being rendered homeless. The first and main consideration will be to requite themas far as enemy money available can be made to go. In any case the Dominion must raise a considerable loan for war expenses purposes in the coming year—that, event having been long forecasted by the Minister of Finance. This liability will increase the amount to he provided yearly for interest charges. More revenue must he raised by fresh or increased taxation. A revision of the tariff is expectod--an net necessary if only in order to give fill - thcr preference to favoured countries. A preference will he provided for the former no doubt. The present Minister of Finance has been successful always in maintaining a strong finance. His operations during the war period have beeii with that end in view. In prewar days he introduced his public debt extinction scheme, which is working out most sat?: providing as it does a nest- egg towards the final extinguishment of the Dominion debt To Increase the country's credit at Home, Sir Joseph Ward has invested national funds in England the money being already call and a, most useful asset assuring the buoyancy on the Home market of New Zealand stock. Altogether, the country might, well rejoice that its finances are in such a sound condition which is altogether to the credit of the Minister of Finance under whose experienced direction they are being operated.