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Hokitika Guardian, 16 February 1924, Page 2

DcitiNO the week, the MacDonald i.ubor party at Home has broken the ire. Mr MacDonald outlined the views of Cabinet in general terms, without precise proposals. The Prime Minister made a beginning in keeping with his words and actions during the past three weeks or so he has been in office. Mr MacDonald has to feel his way. if the party is to get a footing and do things. Jl:<; opening address was in the directum of feeling his way. yet making it plain that me (loveiliiueui was anxious to make good. It is not too much to suv that I tie speech has served its purpose w.-li. The absence of criticism of a serious nature from the London pre-s indicates that there is still the patient (h sire to give the Government a good hearing. So far there is not any sign of over-stepping the mark, though some of the papers aver that must come. On the whole it is hut fair to state that Mr MacDonald has given a vtiy fair exposition of what was ahead of the Ministry and the country in i lie many pres«ing problems it had to face. He had not a complete panacea for them all, hut he had remedies, and in respect to some complex, non-party qm stions. he was going to lot the w isdom of the House decide on a vote. Theioin he showed the wisdom of a Solomon. His remarks lurther showed t l.at he did not lack courage to expies.: his own convictions. One report indicated that In* has disciplined his followers. II that lie so, Mr Maelloliald i.s indeed a strong man, and may go far as the Prime Minister of Gieat Britain. Certainly lie has it handful, hut he is shaping so sanely and speaking so frankly, that the desire to give tin. Government a lair trial will be mere university than ever. It is indeed a happy circumstance that it is so, and all for the great good of Britain and the Umpire generally.

.Mis Masskv at Christchurch this week, speaking on finance, referred to the shortage of money. This referred particularly to h i.s inability to borrow more money to any advantage. '1 his was anticipated in our remarks in this column earlier in the week. Mr .Massey made the best of a difficult position for himself hv taking the situation philosophically. He did not think the poition ('the difficulty in borrowing money) would do any barm! .lust so, then why he hankering after it at cvciy opportunity ? The necessity of shortenme, sail in the matter ol borrowing is essential just now whether tho money e.iM he obtained readily or not, and it is last as well circumstances are di.scipi.niug .Mr Massey in the safe diioction. A .‘sanity of money "ill mean more Irugiility, and by borrowing less the public obligations will he eased, and there will he less occasion to keep up high taxation. The Government can well afford a lean year or two in tho matter of borrowing, for there is liability enough to face already. The ] oople as Mi Massey said, are industrious, mi'd it would he better to bud.l up the fortunes of the country that_way, than sweat it out of the producers with heavy taxation maintained to repay borrowed money, ss> much of which is 1 littered away without being reproductive. A non-borrowing policy, except for stern necessities, would lit the fortunes of cite Dominion very well for a period to enable tho country to recuperate financially. There i.s hope for this while money is scarce and interest high.