Untitled

Hokitika Guardian, 13 December 1922, Page 2

Only a few people realise or appreciate the "rent financial strength of onr position in Britain and the dominions compared with other countries, said Mr Frederic Wise M.P., for Ilford, in a letter to the London “Times.” The essence of sound national finance is for the expenditure to he less than the revenue, and in this way the national

budget is balanced. Britain has not only balanced her budget, but in tho two and a-lialf years from December, 1919, till the end of the last financial year we have paid off the prodigious sum of £500,000,000 of debt. Our Dominions are also in a strowg fiiuinc.nl position. What other countries are balancing their budgets? The French Budget for 1923 shows an estimated deficit of 3900 million francs. France expects to collect this amount from Germany, but, in view of the economic and financial condition of that country, it should be treated ns a real deficit. The Italian Budget for 1922 is estimated to show a deficit of 700 million lire. A large amount of this is due to the loss oil. tile State railways. What a difference between these nationalised railways and our railways paying dividends to tlieir shareholders! The Norwegian Budget for 1921-22 shows an estimated deficit of seventy million kroner. The Danish Budget f i 1923 is said to show an estimated deficit of twenty-nine million crowns. The Spanish Budget for I!©2-1923 shows an estimated deficit of 400 million pesetas. The Portuguese Budget for 1922-1923 contemplates a deficit ,of 327,000 contos. Tile Russian Budget from January to October, 1922, is estimated to show a deficit of 150 billion Soviet roubles. I need not mention Germany, Austria, or the small States. The Egyptian Budget for 1921-22 showed a deficit of nearly 2,000,000 Turkish pounds. India lias a large deficit. Not only are deficits the general rule in Europe and the East, but also in Latin-Amerlca. If there is one count: v where a balanced budget should be shown it is i„ the United "States of America. For tile current year. 1923 the estimated deficit is 425 million dollars. Why are w e in this strong financial position? Because we taxed our people during the war.

Appaiiis in Ireland appear at last to have reached the most crucial stage—despite the fact that several deplorable phases arc left far behind already 111') war of reprisals between the Free State. Government and the Republicans it is hoped, will tie the beginning <4 the end, for it is surdv the darkest page in the history of' the unfortunate struggle which lias marked tho Home Rule agitation for Ireland. The defiance of law and order by the Republicans, reached its climax when the luttar announced its war of externiinntarn upon the Da.il Eircann which was responsible for the final acceptance of the treaty to give Ireland her freedom within the Empire. Tho asassination of a member of the Free State Parliament was avenged by the prompt trial of two Republicans, who were under arrest for carrying arms, and the charge being proved, they were snot at dawn! The Government justifiod the act as a necessary reprisal to make the Republicans Understand where their mad acts where lending. Mr Gavail Duffy referred.tb the development as something akin to a Corsican vendetta in which brother seeks the lift l of brother, irrespective of anything but revenge. But it i, not tho spirit of simple revenge which prompts tho Government’s extreme action, ft i s a desire to arrest by txtremo means the mad caprice of the Republicans, and to take life for life as the only effective method to enforco respect for law and order. The Government action was approved by the Rail Eircniui by 39 votes to 14, a fact which emphasises the dosire of the Irish Parliament to establish law and order in face of the most desperate onposition which could ho put up. It is certainly a liitw page which is now being written in the history of Ireland, and the blackness of the page is relieved only by the set determination of the Irishmen in constitutional authority to win through despite the desperate turn of events.