The Guardian AND EVENING STAR, With which is incorporated “ The West Coast Times.” FRIDAY, APRIL 29th, 1921. THE BRITISH BUDGET.

Hokitika Guardian, 29 April 1921, Page 2

The Guardian AND EVENING STAR, With which is incorporated “ The West Coast Times.” FRIDAY, APRIL 29th, 1921. THE BRITISH BUDGET.

Amur all there can ije no wi/.ardy in uiianee. 'the simple process ol (icon and credit leaves a balance which no amount ol juggling can alter, and 11,e fact of the answer, be what it may, has to be accepted. As usual the ligmes ol the British budget are huge. Dominion linam-i apptars lo be but an ne;n ol the totals to "inch Great Britain's ligii ics re.ir tiiem.-ehes. Some paid ulars ol the present budget are non being icceived, and as it is only about three weeks since the iimuicial year closed, it is no small fact that the *C.hancelior is able, thus early to place the position before the Commons and the nation, and disclose the' iimuicial situation for the enlightenment of all. Tin figures are impressive. There is a surplus ol over two hundred and thirty millions, notwithstanding the huge liquidation of Britain's war debt. .Nearly two hundred end sixty millions had been paid off tie' national debt, and the floating debt, had been reduced by one hundred and seventeen millions. 'Die revenue for Die year estimated is; over one hiliion and fifty-seven million, while the estimated expenditure is nine hundred and seventy-four million. These figures are stupendous and indieate the might and solid wealth of the Motherland. It can he conceived that were it not for the 1 strikes and the tremendous dislocation of industry and tr:idc> which is constantly recurring in England in particular, these Bibulous figures would be more* enormous still—thus demonstrating beyond doubt the power of the cotlitfi'y tti quickly recover from the burden of war debt, if a |air and square run were given it. We are told that the' budget is featureless. but for the large conversion scheme whereby short dated war loans are to be converted into longer dated securities. The quidnuncs are of course criticising the proposals from all sides, but prinipallv from the purely political and partisan side. There 1 is the usual clamour for economies, and it is conceivable while these are going on a very large* scale, there* is on the other side of the national balance sleet, the tremendous daily expense caused in combating the strike and in dealing with the situation in Ireland. This runs into millions per day, so while tin* linaneinl sieve* might be blocked up lien* and there where* there* are departmental leakage's, fresh holes are suddenly created causing a greater outflow than e*ve*r - and there is no immediate means in sight to cheek the flow. Indeed national security demands that the expenditure may not he checked till the national danger is past. The “Time's” in its now usual tilt complains that if the Government cannot reduce the* expenditure* let the Government make* room for somebody who can! This is an invitation to place in power the very forces of destruction which are the cause of the excessive expenditure*. To swap horses as proposed at this junture is to invite a catastrophe which it is conceivable might be* the ruin of the* Empire. It is clear that to ensure an e*asier financial position tranquilly must reign over the land, ami till that indefinitely postponed period arrives, the- nation must go on footing the bill. or in tbc alternative; give the country over to those whose be*nt of policy is destructive rattier than e-onstnictive.