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Hokitika Guardian, 18 June 1926, Page 2

It appears to lie recognised very generally that the financial acumen of members of Parliament is not very impressive. The “Otago Daily Times,” a Reform paper, for instance, recently remarked that if it is a correct ns- ! sumption, as it very likely is, that there are not a large number of persons in the community who are interested in the national accounts. it should at least be expected of the representatives of the public in Parliament that they should possess an intelligent acquaintance with the results shown in tho accounts. If tho now Parliament, however, contains as small a proportion of members as there was in the previous Parliament, capable of analysing the accounts, it is a safe conclusion that the electors will not 1 secure much enlightenment oo'ncerning the national finances from their members until the results of the year’s operations are shown in a, much simpler form than that now adopted. This view will lie accepted generally. Such being the ease the position in negard to the finances of the country is all the more serious. IVe are hopeful that with Sir Joseph Ward back in Parliament a more intelligent and effective criticism of the public finances will be possible, and that as a result there will be more general enlightenment. The subject is of sufficient importance in itself to make the people take more than a passing interest in the finances of the country. Actually the matter is one which touches every family, every individual. Taxation is governed by the state of the finances, and the ■sounder the administration of the exchequer the lighter will be the burden on the people. AW are fully persuaded .that with the growing indebtedness of the country, anti the need then is for sane finance to avoid disaster, the finances should be under the best control available. In local bodies it is customary to have a finance committee to watch with the executive officers the finances of the local authority. ■lt is more important still that the finances of the country as a whole, governed through Parliament by a Minister of Finance, should be as well safeguarded. A finance committee of the

House 'is necessary for that purpose. There is of course a Public Accounts Committee but its order of reference is a limited one. and it operates oni . while in session. A Grand Committee of Finance sitting under the presidency of the Minister of Finance would be a very useful innovation. The finances of the Dominion are so vast that they need constant overhauling. Both sides of the cash book should be rigorously investigated—revenue and expenditure a like. It is a time fur reasonable economy and judicious taxation, and the help of the financial experts of the House would be a great gain towards the end in vTew. The financial stability of the country depends on small things, after all, and it is essential that the management should be careful. Given the advice from such a source, and the finances of tire country would he directed with such effect that greater confidence than ever would bo felt, confidence which would be increased as improved results justified the change suggested.