SIR JOSEPH WARD.

Hokitika Guardian, 23 June 1923, Page 3

SIR JOSEPH WARD.

| „v •rni.EOItACII —PER PRESS ASSOCIATION.) "WELLINGTON. June 22. Sir Joseph Ward, in an interview on the finest ion of Dominion (malice, says that he is amazed Rt AH' .Massey, in hi- capacity as A!mister ior Finance, expecting the public to accept bis explanation upon the materia! points that have been the subject of the contro-

versy between them since lie 'Sir Jo-enh Ward), made a speech at Bluff , n , the suhieet. He (Ward) had declared that the .Motherland, had. since the war. decreased her budget by over Gsoi),nno.litlti. but the Government here, in the saute period, had increased our borrowing by millions: and these with the surpluses which thev had used and spent, amounted to over C100.n00.000. Thu.-o. said Sir Joseph, were matters ol fact that, in his replv, Air Ala-sey did not —and could not —deny. •'Anyone who reads the British and New Zealand budget since the war." ho said, "will find that I have neither exaggerated nor misrepresented the posh ion in any wav. The statement that I made at liltin' was. in essence and m fact, absolutely true. Sir Joseph Ward points out that Great Britain has paid a sum off het del it. and has reduced her taxation. Any increase in her debt was due to the operations in Mesopotamia, Palestine, etc. Sir Joseph Ward refers to "the baleful effect of company taxation on industry." and deals with taxation, and the nceessiiv of reducing same, lie says that when he was a member of the National Government, he was opposed to anv proposal to take the millions which he had saved—a surplus—to purchase land for soldiers. He had warned the Government that to do this would create a land boom, and would prove disastrous to the soldiers.

lie quotes a speech lie made in the House cn September ?!), 1919, in proof of this assertion.

Sir Joseph Ward continues: "Could my proposal to keep tlie £20,000,000 of surplus have been accomplished—unquestionably it could. My intention was to purchase all the lands required for the soldiers by means of Government stock, hearing 4.j to o per cent interest, tft would he tax-paying stock) and all the land required could have been acquitted, and it would have ])revcnted a land boom. AVe could have got advances against our £20,000.000 surplus, if we required it, until such time as the liar against borrowing was removed. However, the policy of purchasing land, for cash, had actually been started on a large scale before I returned to New Zealand on the last occasion ; and, as T believed it would result disastrously, I called the Liberal Ministers together, and told them iliac, in my opinion, it would result in a land boom and in financial difficulties, and that I would not accept the responsibility for it, ami also that the only course was for me to resign. Every one of my Liberal colleagues know that this was so. Thus, whether I was right or wrong, 1 acted upon my judgment at the time, and I look the course indicated. I cannot ho accused by anyone ol saying now "1 told you ■•O," alter the policy to which I was opposed ha.-, boon tried for nearly four