WELLINGTON TOPICS.

Hokitika Guardian, 3 October 1921, Page 4

WELLINGTON TOPICS.

Til 10 FINANCIAL POSITrOX. A HKJ DICK re IT. (Our Spociiil Correspondent). WIOLI.I NOTON, Sop. 30. It was not a cheering statement ooncerning the iinaneial position of the Dominion «bieh the Hon W. I). Stotviin made in the House on Wednesday night, tint it luul the redeeming virtue of being flunk. The aeling leader, without any unueeessary emphasis, gave menthers to understand quite clearly that the Government was in an extremely dillictih position. The expenditure for the first live months of the Itnaneinl year, from April Ist to August .'list, had amounted to C12,310,012, and the revenue to only 17,819,I9H, leaving a deficit of Cl ,190,8 Hi. There had been a decrease in the revenue lor the live months, compared with that for the corresponding period of last year, of ,t 1,310,120 and tin incea e in the expenditure of L'd.tilio 9-13. The decrease in the revenue is easily unde ! .0,1. 'fire ru.-torns deficiency alone amounted to £ 1.372..‘1n 1. so that there i no m e:l At look furlhe for in exp'la 11.11 ion . f ~ 1 a ! I . s Ij cm ,!. '! ’ e oimrniniis inii‘crtation t of th ‘ • -r 'i«- is Vt ar could mil 1..- 'c ; . and. and in this extent t liei,■ is i , u■■ .i , I ho in t (igu - os. They a I lea l shn i I ; at the la visit pi i Vli o II ' 1 : ' .. of t ' ; ,1 ■ has i eon moderate 1. Tine oTiii d si;>i: 111!I tile It ■ ttvs • I the ■ he- id ' -e!! ipiilc a dill o' in'" I e ■'■■idj.. p :r'i: u: c ... I'.i -i.it a' I again a f tcl' ii! s In ill - h e not' 'n;;;. i i wa •• well I-tii v:> I ■ ne: l - «, • e said, th.t ii was usual in the early mouths e ■in in ial year to have - >: o- of pciidiliire ove 1 ' revenoe, I i. he i ■> Peed to add. it V.as m 4 us I!. any thin r like su high as il wa on t 1 ■ nresen' occasion. Analysin the al mirinal posit ion, tlie .Minister mentioned an increase of Clou,lion for interest and sinking fund on the public debt, ol

1 f:il2,(K)o for bonus payments and of | L'1.100,828 for railway expenditure, a total of Cl,!j;ll/is;i, leaving an amonnt of only Cldl.-ldO incapable, as one may say, of explanation. The railway expenditure included (.'200.OIK) lor increased wanes and' bonus and L'(>" 0,000 for flic importation m co.:i i.ulered ne.cssarv !>v ” the failure ttl local coal production.” It would s.eta, tnen'oru, that the incicased e::p adittl e duriiin the live months winch cannot hr brought diiectly to book antmints to L'h'lS.dSS, this (inure being teaciied hy adding die sum of Cldl.-Uid and JJ.'tOO,-I 828 together.

THE f.VKV IT A lii.E. lint till- [act tli;u Lite country lias on I•:i ml ;i large .stuck of lastly imporldl c:iiil til' (lotllii.lill tiinility tines not materially ens,' tin* position. Wliat is Needed, sorely ;iii;l immediately, is n drastic cut in tin* public expenditure, iictiiiiiy n leu liuiulretl. or n leu' t.ho.is.in«!, civil servants, discontinuing u train sen ice here mid tkeie. adding i sixpence or a shilling t : the duty on tohucco, further reducin'; the size of telegiaph tortus, or nil these things to;,et cr are not going to relieve the Govi i n.:.iat of its gtouiug anxieties. Ue- , l\i I ell llli*tl t is nil Ugly '.void, sllgges live of inconvenience to every section | cl ti c ciiiiiir.iinity and hardship to many imlividuds, hut tie i.oininion will have to face the iiievitnhle soonei or Inter, and the sooner the speedier its n tin a to normal conditions. There, are indications that this is the view I e.d by .Ministers and by a majority ol the members of the House. The (I ernoi-Henei ill’s speech made very p intml alh.i-'inii to he ncerl for economy end the mover and seconder of the .-Vd-dress-in-lieply lindly would have refer cl to the subject as they did without some inspiiati n tioni the ’hvasi.rv l..•uel.es. Air ft,.wale Site varl’s own excursion i.i.o the history of retrenchment carried him hack to the famous “ it ii p*u cent reduction ” of Id-'P. which many i-cu'ilc ill the time denounced, not without some reason, as infamous on aiiuiini of its iiiei|uiinlilo deration. I’ut those wire the days of small tilings in the country’s limtnce, the reduction repreicntijig a saving ol only some CKfO.OIiO and doing nothing stay tl-.e leakages in other directions. In ltd! it will la* accessary to take much more comprehensive measures, and to take them with a do.- r regard for the prhii iide ol e .nniiiy tit .'.if dice. .Me dibit, without leakin', any ini ii;, : - di-t in: t ion . a s,. c::. I : d of prai-e 1; ii..e to lie I toe. -I. tf. tomes, the Minim r of Public \V: :■!:* and i’ost-mastci-tfb nernl, win. in •!••:* two great departu: o' he ii.ai- !•., :• : < ,!lv facing the cnnicasam task >*•' r'renchinent in e-.ery t* ssihle di e ■ ion. AMinis;. :- o. i’.ild' tV. - lie is saying no to iiinumeraMe :ei|tiests for expcndi't ".re, aid i’ostam ooi-(!e. 1 *ral co.-,!: : eo-is atlmini'.r i r i coin lave her ilc,l cil to n Ilk • in t! e ah cm- ol his chief. In tlic.-e two deportments. All- A! a i -ey will ilml himself saved a gtcit ileal of unpleasant wnrk tha' had to ’ .- (Lone.