The Guardian And Evening Star, with which is incorporated the West Coast Times MONDAY, NOVEMBER 30, 1931. THE ISSUE.

Hokitika Guardian, 30 November 1931, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times MONDAY, NOVEMBER 30, 1931. THE ISSUE.

“It is niy deliberate conviction, based on intimate knowledge, that it tlie policy put before the electors by the Labour Party is given, effect to, New Zealand will, without question, lie faced with national default, repudiation, and involve new”

Ihe above mighty words are from a speech by Mr W. Donnie Stewart, tire Minister of Finance, delivered last Monday night, and cannot be considered too closely by the electors making up their minds to vote on Wednesday. The Minister of Finance is one of the soundest economists in New Zealand, and is immersed in the duties of his important office. Mr Stewart knows the state of the public finances, its trade returns and the ability of the people to pay. He has reviewed the extravagant policy put forward by the Labour candidate's ort the hustings and with the knowledge of the. national position, passes the severe judgment on the policy quoted above. We take it that the electors on Wednesday desire to cast their votes in the interests not of any party or class, but for the good of the nation as a whole. That is the crux of the political issue before the elector's. and with the accumulated evidence against the value and virtues of the Labour policy, jt is for the people to cast around for something more in keeping with the needs of the country. There i* a responsibility thrown on the electors to choose. The Coalition Government offers the safest course to New Zealand to follow. Tt is essential' to balance the Budget however lightly Mr O'Brien may seek to gloss over that duty in the interests of the people. To allow the finances to drift and deficits to accrue is to produce the necessity for inflation, and that hits the working man hardest, because costs go up and standard money will buv less. Wages may not rise under inflation and then will occur the misery which has to be endured in Fair ore where inflation was resorted to in the effort to carry on. Labour here refuses to balance the Budget, for it decries the economies adopted -by the Government, to save New Zealand from inflation. By promising to restore cuts and salaries generally, Labour will have to manufacture the money to pay the bills. It may borrow to do so, but that adds additional annual burdens, and the money would not be used for reproduction. From the manufacture of the money. Inflation would result, and the 'restored salaries would be paid in a depreciated currency, and the plight of the civil servant or worker would be worse than it is to-day, with an added burden placed on the country. The people have liad the position put before them in plain terms, and no more definite than from the mouth of Hon. W. Downie Stewart. The Labour policy beads for national default, repudiation and insolvency! Will the electors vote 4n any numbeV for that result, or. will they support the policy already carrying New Zealanders through troubled times with the promise of a brighter dawn. The common sense of the public may be trusted to make its choice sanely and we'are sanguine New Zealand will express its distaste for the Labour policy in no uncertain wav, and that this electorate will make its contribution to that patriotic result.