The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, FEBRUARY 18, 1928.

Hokitika Guardian, 18 February 1928, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, FEBRUARY 18, 1928.

POLITICAL POSSIBILITIES. The Government since the recess has been paying much attention to the North Island whore the bulk of the votes are centred. Coining events have the habit of casting their shadows before, and in election year tbe the event is generally forecasted by much Ministerial movement and activity. It is from the North Island that the Government draws it, main support. and there is the natural desire, no doubt, to keep in personal touch with a quarter of the Dominion whence comes so much vital strength towards the prestige and power of the party in office. The Prime Minister made it convenient to spend his holidays in tbe Far North and had for company different Ministers who also made it convenient to flit about and keep close touch with various centres. This was all in the game! Following those visits, we note from the northern press that some of tbe more fortunately placed of tbe local bodies arc receiving authorities for public works, expenditure—perhaps another sign of the times. Ministers spoke frequently in the different electorates traversed, but no set policy speech was forthcoming, though the Prime Minister lias delivered several published statements dealing with controversial questions, such as Samoan incidents, rural credits, unemployment conditions and so forth, but Mr Coates rather avoids the public platform. Not so his political opponents. The Leader of the Opposition is nt present on the stump, and aRo th* T<ea.{}er of the Nfftforiftl partv

and one of his henchmen. It is a compliment to the northern part oi the Dominion that these speakers have initiated their New Zealand campaign also in the northern territory. That district is being well wooed. Mr Forbes was content to coniine his mission to one of criticism and point out the political sins of commission and omission by the Government. Mr Holland has done likewise, but gone further m the partial deiinilion of the Labour po/liev. 11l his TJelensville speech he . showed up the lallacy of the so-called I freehold by indicating how mortgage values had risen against capital values. The figures demonstrated the national loss in taxation and rating, which ii properly applied, would soon put the Ireeholtl out of favour, unless the hind - as it should Ik l — was used to ndv anUge Mr Holland would favour the ■‘uschold” principle, hut this "implies compulsory acquisition cl the land, and the scheme would he I cvond the resources of the country. Leasehold under a Grown system of ownership is the least exacting for the man on the land, and if in the end if is possible I ir him to acnuire the ownership out ol profits rather than from borrowed money, so much the heller lor his success in his undertaking. A treehold governed by heavy mortgage payments is not a very possessory right, and no doubt many men on the land are to-day hampered by the burden of their interest payments. If rent payments were substituted the si niggling farmer would, in the end, he much better oil'. Mr Holland’s advocacy ol a State hank is a i isky national undertaking because of the liability to had management. The Stale owned control tinder the parliamentary system would be open to abuse, and the risk ol' that will make the country pause before it launches out on such an expensive system ol hanking. I Ids is , the more unacceptable because the privately owned hanks are nut treating the louutry unfairly. The value of monev is governed by the market, into, ami interest is fixed accordingly; Ihe Slate with all the borrowed money it has to its debit now. could not raise additi I large sums of money to go into opposition to private hanking, at any cut rates. The hanking iiistilut ions have been very carchil with Dominion borrowing, loth lor Stale and local body purposes. Commercially also, monev is not with-hehl unduly. - and the trading of the country lias keen helped enormously by I lie e\isling hanking system. There are no abuses In decry or cause serious consideration for such a costly experiment as State hanking may involve. However. the political leaders slumping the country are turning attention to various possibilit ics and supplying loo*| lor thought for the public at large hell ire the next general election. The that event will lie governeil a-ore bv what is done or ai tempted next session, always providing the man does not appear with the striking hour In lead New Zealand out of its slough of general political despond. In any probable change personality i-. going to I,Hint a great deal, and at the moment ; lie personality of which i-. rather generally desired as a matter of laid, is not Oil the political hiriy.ou Inti all hings are possible.