Dominion Finances.

Hokitika Guardian, 22 August 1922, Page 2

Dominion Finances.

SPEECH BY MB MASSEY. l_Bl* TBLEORAPH —- Ell PRESS ASSOCIATION 1 FOXTON, Aug. 21. "y Speaking here to-mght at the public meeting after the valedictory banquet to Mr E. Newman, M.P.,. the Prime Minister dealt with the finances of the Dominion He said that he had recently had .the figures for the first four months’ operations of the present financial year. During these months, the revenue- went down by £450,000 compared with the corresponding four months of last year, but they liad this consolation that the expenditure weiit < down by £1,200,000 in the satae period. Those wel-e hard facts, and whatever might be said to the contrary, the effects of the policy of economy could only lie plainly felt. The country would, he said; reel benefited shortly. Long before the end of the year had been reached; the expenditure would bq well within the income. When that time came, he , would be able to reduce taxation, and the country woul'd feel the benefit. In February, the income tax would be collected, and the officers of the Income Tax Department, who knew their business liad advised lum that next years’ income tax would be two millions less than that of the previous year They had faced a drop last year, as well as a huge drop in customs duties and in other Departments. ’They had got through it last year and. he could tell them they were going to do all they could to get through it again. . • He could not toll them that the country wa s going to have a surplus hut they would do everything possible to show the people of this country a satisfactory balance sheet at the . end of March. He believed the country was now well round the corner in a recovery from the depression which had afflicted it. in common with every ether 1 country. The prices wf their, produce had improved very considerable. Wool was a lot better, and ie predicted that the new season was going to open very well. Dairy produoe had taken the place of wool as pur chief primary industry, and the returning prosperity of this country was largely due to the energy and hard work of the people on the dairy farms of the Dominion. They deserved all . 4 they got, be claimed, and he wished them all luck and happiness. Mr Massey concluded with an a P- j„poal to, the'electors to return at Die coming general election “a -stable Government, representative of the Mo. element in the community as a gams the extreme Socialistic and Bolshevist The meeting, which was very enthus | iastic, concluded with a hearty vote of thanks to the Prime Minister, earned with cheers.

THE NEW CANDIDATE. Mr Linklnter. who is the new e- . form candidate, in place °f * he - £ ing member.- was introduced by the Prime Minister, and cordial y r ed.