The Guardian And Evening Star, with which is incorporated the West Coast Times FRIDAY, DECEMBER 16, 1932. AFFECTING NEW ZEALAND.

Hokitika Guardian, 16 December 1932, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times FRIDAY, DECEMBER 16, 1932. AFFECTING NEW ZEALAND.

It is worthy of note that in spite of Britain having to pay the instalment of war debt interest and capital repayment due to United States, there, have been substantial, if not wboky official, assurances that there would be no disturbance of the promise to the Dominions that their obligation in respect of debts due to the British Government need net b© met for another year. What this means to New Zealand was described in the Budget. The relevant passage ran:— “The additional relief to this year’s Budget is £825,609, in addition to which a saving of £47,060 will accrue to the State Advances Office. Our grateful thanks are due to the Mother Country for this substantial measure of assistance during the acute period of our troubles.” The thanks the Prime Minister then acknowledged, to be du.3l should be intensified now there iis this added cause for gratitude. It is a typical example of British generosity and adherence to a promise once given. The Prime Minister speaks of a concession “in the acutes-t period of our troubles.” It should be remembered that Britain’s own troubles have been no lees acute. The Budget was framed to balance without provision for wfiat must now he paid to t]re United States. In the event of a full transfer of the amount this week the difference to th e accounts will be £33,400,060, or approximately £12,009,000 more than the whole estimated revenue of N'ew Zealand fm the current financial year, Jn these circumstances if the British Government had decided that, every penny counted and that even so comparatively significant a «um ns the debt instalment New Zealand owes must be forthcoming, it would not have been unreasonable, nor would this countiy have had any ligitimiate cause to protest. But that is not the British method. No return is asked for the forbearance. That does rot mean none can h P made. The cue for New Zealand i,s to remember always, as a customer of all the world, what country has given most ground for gratitude, and for the practical expression of that gratitude. The answer is not far to seek, and Now Zealanders who ireccgn’se how valuable that assistance given iis, should assist by e\er> means in their power to increase the trade of that best customer.