WELLINGTON NEWS

Hokitika Guardian, 6 March 1926, Page 1

WELLINGTON NEWS

NEED FOR ECONOMY. (Special to ” Guardian.”) WELLINGTON, March 3. The Prime Minister in a recent speech in the South Island said that the trade figures showed a less favourable balance. The tendency ol imports jo increase at a great tor rate than exports merited a note ol warning to over-importing, which, it continued, might bring ahi/uc a reaction that will affect revenue. The rise or fall of the ; cade of the country must necessarily alfeci. the revenue, hut there is little

ie.ir of anv disturbance of the revenue tor - some time to come. The financial year will close at the olid of ’ this month, and when the accounts are made up there is every reason to believe that there will Ik- a handsome surplus. The Treasury Budgeted for Mich a. result by under estimating the revenue - and over estimating - the expenditure. It is . a time-worn trick which deceives a good many people, ft is true that the exports are declining while tho imports show steady expansion. but that will not adversely affect the revenue. The big imports will mean, a big revenue for tho Customs Department and the income tax is not likely to lie anything less than it is this year, if the expenditure-of the Government does not expand in Bll’iPAr there will be no occasion for uneasiness for that year, but there is iilTle hone of expenditure living kept down, for tile tendency in recent years has. been i ! > multiply departments, and there are the usual schedule increases to he reckoned with. However, a commission of Governmenl nliieors is to he appointed to investigate and report as to departmental expenditure in the direction of economy and efficiency.-1 This looks like a desire to face the

position, lint the report will, like similar documents find a snug place in some pigeonhole. Ihe tendency lias

been, during the past few years, in fart throughout ihe whole post-war period, for expenditure to expand. Morrow and squander is the slogan of the Government and there is no cure for ilial. The country ought to see a redueiion in taxation, and ought- to insist upon such a reduction which could !-o made if Ike Treasury ceased from budgeting for a surplus. The Govern meut has no right, to use a surplus for a capital expenditure. The proper use for it is the reduction of debt, and if i Isis rule were enforced taxation would he reduced. Breaching thrift and economy will not do any good m this day of high living and extravagance. It must come home to the people, itmust he felt by them and then economy will he practised in earnest. EBOZEN MEAT DERIM-YU-TIY Cable advices from London at the

week-end show that there has been a. j further drop in the value of frozen mutton, lamb and beef, the best: price for land) being IOMI, or 2d below what it was a year ago. Last year’s prices were ab-'t-e the true economic level., and the relailers who handled frozen mutton and l.mib made very little pv-'-l lit. They .-naturally 'encouraged ihe} consumption of .oilier Meats and Argentine- chilled beef which appears to he in plentiful supply is selling at remarkably low rates. Thus Argentine ox fores are quoted at Smitiifield at 2.’,d per lb. and ox binds at 5(1, while New Zealand mutton ranges front .>;|d to (ltd according to brand. Although the wholesale prices have fallen, Hie retai.lers appear not .to have reduced their prices and the consumption, is. ijherefore. still in check, l.nw prices should stimulate’- rmisii:upl ion mid ii the. retail prices were, bnoighl inkp i-!:i! inu wi-t.li wladosal,. prie.-s there wouM he- some oxpnii'uon in i'ensiimp. lien..; The pceseni -depressed stale 'of ihe mark,-I has helped to/kill the c.'i.f,. liilsiness,, fur. no .one cares to enter iut-e i iinimilmeiils .on.-a falling imlrkel . All frozen meat is going to London on eotp siguineiii an.cL.il is not’to the jnlereSi of Hie wliok's.ah-ir, to.-hold up the mar-. Let. C.T.E: luryers through being .owners of a ceriain quantity of meat -to arrive were interesied-iin seeing- a firm' ntarkel ni least mild such, times atheir purchases were marketed. There are n<> such factors now, and to cheapen meat seems to he the aim pi all concerned. except perhaps the,. rc(aijeis. . The Food C’oiniei! in Britain is now-. ini|iiiring into meat jiricc-s, and it. is p rob:; hie that their iuvesl iga i ions will j iiave a good eli’oei. (T:illv-d hn I hum Suuih Aniiiiea apiu>ars to ho domina:--ing I 1 '." sitimiioe. a lid New Zeak-iul moat mu--! meet ibis ronmel ition by reducing price- - . Owing f- the tinfavports ni mu:! m :! nd iamb should he i !, t' uinl he past season and l!>n! evil! !. •-.( I the loss ; ii.-verl liele.-s, d'e freezing < omp.anii's mu - 1 he exeeriencing a verv treing time, especially tho-e proprietory concerns which accept the risks. The exporters of meat generally roii-1 he linding the conditions very trying lor if is (loiihLlu! wlietlier m-jocs have reached led rock.