WELLINGTON TOPICS.

Hokitika Guardian, 31 March 1921, Page 4

WELLINGTON TOPICS.

THE WORLD’S FINANCE. GETTING DOWN TO FACTS. (Our Special Correspondent). WELLINGTON, March 29. To the man in the street, unfamiliar with the great economic problems of tho day, the Hon Arthur Myers’s talk to tho representatives of the Press the other day on the world’s finance may not convey a great deal that is tangible and easily understood, hut even he is realising that the absence of the member for Auckland East from the recent short session of Parliament was a public calamity. Never before have knowledge and experience of finance and the faculty of handling figures been so urgently needed in the House as they arc at the present time and never before I have they been so sadly lacking, speak I ing collectively, of course, in the people's elected representatives. Even Mr I Massey, who has charge of the Treasury, and who is easily the best qualified member of his own side of the House to hear this responsibility, must lean heavily at times on advisers who have no particular claim to he regarded as masters of th 0 intricacies of tinworld's finance. THE PLAIN TRUTH. To say this is to utter no reproach against the politicians who frankly admit their inability to understand this phase of the “dismal science.” FinanI ciers, like poets and golfers, are born with gifts and penchants which cannot he acquired in the schools or colleges and which do not. oltcii incline them toj wards a political career. Mr Massey, • considering nil the circumstances, has simply achieved wonders. Ry sheer industry, dogged perseverance and the exercise of robust common sense he has overcome obstacles that might have dismayed even his stout heart had lie for--1 seen the troubles in trout of him. Peoi pie who a few years ago were scoffing ' at his donation of Mr Sedclon are now ! ready to admit he has advanced far and with very considerable distinction along the path tho great Liberal leader blazed. Rut the sure touch of the inspired financier is not among his many gifts, and it has been left to a private member, with ministerial experience, on the other side of the House to give, the ! country a convincing diagnosis of the economic ills from which it is suflering. j THE NEW PARTY. | Just how and when and where the root idea, of the National Progressive ' and Moderate Labour Party originated the public has not yet been permitted to know. The impending formation of the new political organisation was talked about during the short session of Parliament, but the promoters of tho movement did not extend their confidence very widely. Mr Statliam s acceptance of the presidency of the party, however, is regarded here as an assurance that the movement has some considerable hacking and that it will he, as its official title suggests, both progressive uni moderate. Mr Statham was one of the impatient Reformers in the last Parliament who were dissatisfied with Mr Massey’s “make-hastc-slowly" ' policy and wanted to accelerate considerably the Prime Misisler’s iatc of progress towards long promised goals. , The leaders of the incipient revolt were propitiated by appointments to the Ministry, reconstruction '‘coming ’ along,” as Mr Massey himself would say, at an opportune moment. Rut Mr Statliam remained undeterred in his

i zeal lor results and having his attitude 1 endorsed by his constituents at the last 1 general election, is now tree Lo seek I them by more expeditious menus than j his old party has yet employed, j THE TOTALIKATOK. The members of the Totalisator Commission rested from their labours during the Faster holidays and most of them made their way to the race meetings nearest their own homes to see in operation, and perhaps to test in practice, the machine whoso destines in » large measure have been entrusted to their keeping. Various attempts were made to oct from them some forecast of the tenor of the report they are to present to the Government, but none of them was successful. It was gathered from one member, however, that lie thought the race-going habit and the gambling fever less prevalent in tke South Island than in the North. This, he admitted, might bo an impression gathered from the larger attendances at race meetings ain the North, particularly around Auckland, without taking the denser population into account. But putting two and two together it seems fairly safe to predict that the Commission will not recommend tho issue of a large number of additional permits. nor their distribution, few or many, on a. population basis.