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Hokitika Guardian, 24 April 1922, Page 2

The expedition to Gallipoli, with which was associated the Anzac Landing was for important purposes wrapped up in the general plan of campaign into which the Great War had developed. An au- ,. oritiitive history of the Dardanelles Campaign summarised the aims in view as follows:

1. The capture of Constantinople, which would cause Turkey to surrender, and thus remove all anxiety about ’Egypt and the Suez Canal; 2. —The attraction of Italy, Bulgaria and Roumania to the alliance against the Central Powers, leaving the latter Powers entirely surrounded by enemies, and securing the left flank of the Russian armies.

3.—The opening of a channel for the supply of munitions to Russia by her All.es, and in return, the supply to them of Russian wheat. It was an unfortunate circumstance that the British War Council assumed that the Dardanelles could lie forced by the Navy alone. British and Naval forces attempted the task in February, 1915, and failed, and it was ill April following, the military co-operation was sought by the occupation of Gallipoli Pcilinsula: The plans of the War Council went sadly astray, and to the bnd Turkey remained a factor to be counted upon in the war. But the effort to achieve the plans left nothing to be desired. (As far ns was humanly possible a tremendous struggle was put up, and the hardships were borne Ithe young untried soldiers with the patience of veterans. Success was nearly achieved, hut there was a lack of men, alul particularly of artillery and even munitions. The gallalitry of the effort was beyond all praise, While the success with which the hard won ground was held, was likewise a great glory added to the traditions of the lighting forces of the Empire. Gallipoli was a magnificent failure in that u fell short of the aims attempted, but a glorious circumstance of the war, in that the valor of the fighting was of the highest order, and in keeping with the fighting qualities of the race through all times,

It is good to road of the success of the New Zealand borrowing schemes On the Home alul colonial markets. It is proof of tiie fact that the credit of the country stands high and that despite the linloaard circumstances of the “slump”, the ciedit of the country is not impaired. The live million loan was under written at par, and its floation on satisfactory terms is n matter fo r congratulation. It has been apparent tor some time past that money was very ] lontiful at Home. Since April, 1921, the bank rate in England has fallen from seven per cent to four per cent—the latter being the lowest official minimum since before the outbreak of war in 1914, Money has been both cheap and plentiful in Britain and New Zealand has been able to wait for a favorable market, it will be remembered that Queensland a few liionths ago in her extremities rushed the American market, and the money obtained then reads very dear now. The plethora of money at Home is due unfortunately to the adverse trade conditions, and no doubt the safe fnrestments in colonial securities is welcomed. The money will lie acceptable here on the threshold of winter. The unemployment bogey should he less terrible now. The Government will he able to perform some of its deferred promises in regard to public works held over, and the administration of the country should go forward with less dislocation. If labor organisations will be but reasonable in their demands during the year, and not attempt to force an im. possible situation on the country, New Zealand will emerge from the ‘slump” period very satisfactorily. There are welcome signs of better prices for primary products and with the inflow mg money combined with the relief given by the success of the loan, the year should he negotiated rather advantageously;