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Hokitika Guardian, 17 December 1931, Page 4

Prior to his departure for Honolulu, there to endeavour to arrange a trade agreement with Canada, the Minister of Finance, Mr Downie Stewart, issued a statement on the financial position of the Dominion. As could be inferred from the progress of trading events, the disclosure is not of a cheerful nature. Revenue is falling still, and estimates are not being realised. This is not pleasant reading at this season of the year, bnt it is well that the situation should be kept in mind and the people realise the- national state of affairs. There is a serious drift taking place in the revenue, and the upshot must tie a curtailment of the public expenditure. This in turn will impose hardships and add to the difficulties of the position; but the facts have to be faced unattractive though they are. Tt rs not within the power of the Government to create prosperity when at tins j uncure primary products responsible mainly for the wealth coming into the country, are at such low prices. If wool and produce were to lift a little there would be a more hopeful outlook. Tt is greatly to be regretted that- hopes and expectations as to an' improved range in ooinmodity pr ices have not been realised, hut the state of world finance, combined with tlie general international outlook, are not helpful factors at this stage. There are hopes that something will lie done to ease the position in the northern hemisphere as a result of consulta : ions now proceeding and proposed, but it is evident there must be a great improvement in that (jimr. ter before the reflex will'be felt here. Along this line of thought the promise of an early return to prosperity does not appear very promising, and for that reason the Government is wise to

keep the general situation well before the. people so that false hopes "’ill not be engendered. The fact, too, that full relief cannot be given to the unemployed is another sign of the times. The. resources are not equal to the strain, and will be loss equal later, we are afraid if further retrenchment lias to be carried out. The times, therefore, call for careful consideration, so that difficulties will be met in the best spirit possible, and all resources will be used to the best advantage and with the idea of affording the fullest help to those requiring it.