FUNERAL NOTICE The Guardian AND EVENING STAR, With which is incorporated "The West Coast Times.” WEDNESDAY, MARCH 23, 1921

Hokitika Guardian, 23 March 1921, Page 2

FUNERAL NOTICE

The Guardian AND EVENING STAR, With which is incorporated "The West Coast Times.” WEDNESDAY, MARCH 23, 1921

THE FRIENDS of the late WIH ]JAM MOLONEY' are respectfully invited to follow his remains to the place of interment. The funeral cortege will leave the O. P. Home at MORROW (Thursday) MORNING at 10 o’clock for St. Patrick's Church, and thence to Kumara Cemetery. fi. JOHNSKN. Undertaker.

AN INTERIM STATEMENT. Thk quasi financial statement Mr Massey made to the House on Monday, covering eleven months of the financial year, supplies plenty of food for thought. Mr Massey frankly admits the financial • stringency in the country. but takes comfort ill the fact that it has not yet affected the finances of the Dominion. That, however, can ho hut short-lived comfort, for already he realises he cannot raise additional loan money, and is fact' to face with the fact that the country must expect a falling income. The value of the exports so far he gives lit over thirtyone millions, is very satisfactory, but we know that tlia volume cannot be maintained. Hitherto wool was the staple product to return big value, hut the market is dull to the extreme and it is rather on the future, than on the past, that Mr Massey should build his policy. The past in point of fact, h e has ignored, for all through the days when money was plentiful he went on cheerfully spending and adding to expenditure, without ordering the country’s finance to possible eventualities. He is prepared to do so now, hut lie is going to do it only under unpleasant circumstances, and actually at the point of necessity. The accumulated surplus to which he refers is of course a very desirable legacy from the heneficient financial legislation of the Liberals. It was Sir Joseph Ward who created a national debt extinguishing fund, and it is due to his foresight that that safeguard is on the statute hook. Even though it got there, there were those who decried it. but it is a very fine asset to have at the moment—this seventeen and a half million, earning three-quarters of a million in interestwith which to go on the London market as Mr Massey must apparently, of necessity do. It is clisquietening to see that the Public Works fund is so low. There will he only about a quarter of a million with which to start the new financial year, and borrowing must he indulged in to keep that fund in operation or the congestion of unemployment throughout the. country would he disastrous. The present year is going to close with a surplus—so far so good. But the country will owe that surplus in the main to the excess of imports giving such a tremendous increase in customs revenue. Apparently over eight millions will he derived in customs revenue this year, or more than the years’ returns for 19181919 put together. This is abnormal, and it will he observed how it has saved the position. Mr Massey does not expect tliat excess to happen next year, and consequently he will anticipate a deficiency or decline ais far as he can by carrying forward as much ns possible of this year’s surpluV But, we doubt if that will suffice, and in reality the Prime Minister must get busy , as lie should have done long ere this, j in economising in all his expensively j run departments. Tie holds out some j hope of this, hut the step lias been ! too long delayed. The country should ] have been feeling the benefit" of that j step now, instead of only anticipating j it. The pruning knife must he put to work, and busy at that, or the coming year will show that the financial stringency pervading the Dominion is seriously affecting the finances of the Dominion. The Prime Minister sums the j matter up hv saying that the financial 1 situation requires “economy, hard work and co-operation.” Mr Massey has been preaching economy but not prae v >

ticing it. Wo hope bo will take his own medicine now in earnest and show what lie can do to return the position. “Hard work” and more work are alike required, and it is'for the Government to see that this is done by all sections of the community. The Government has a duty to perform to the country as a whole, and that is to see that the loose methods of strikes, hold-ups and go-slow action shall cease, and that where folk will not work, that there shall be the right for others to take up tho work and do it. The country for far too long lias pursued a laissez iaire attitude Tho cost has been enormous, and it cannot be afforded any longer if New Zeland is to pull through with a modicum of inconvenience this next financial year.