THOUGHTS OF THE TIMES.

Hokitika Guardian, 6 August 1931, Page 4

THOUGHTS OF THE TIMES.

A BUDGET OF BLOWS. To-day New Zealand feels rather like a pedestrian who lias been struck by a motor car and thrown into a ditch. He picks himself up, conscious in Ills dazed state of being alive, but uncertain of the extent of his injuries. If one can imagine the motorist calling out as he disappears round a bend, “The worst is over!” the resemblance becomes a little closer. For this is what Dir Forbes says in his Budget; we know the worst. Let us all hope so. Dir Forbes evidently believes strongly in the immortal principle enunciated by Dir Dlicawber, that an income of £2O and an expenditure amounting to £l9 19s 6d meant happiness, and a balance the other way was misery, He has decided to balance his national accounts at heavy immediate cost to the community. By doing so he follows the British tradition in general and the New Zealand in particular, and bears in mind the great importance of high national credit- The London DJoney Market looks to New Zealand to avoid deficits, and we are still dependent on that market. And one may easily imagine DTr Forbes being strengthened in his resol. ution by the example of Australia. “We will show London and the worldl,” he savs to himself, “that in finance New Zealand is wiser and more courageous.” Auckland Star.