WELLINGTON TOPICS

Hokitika Guardian, 17 February 1933, Page 8

WELLINGTON TOPICS

TWO VETERANS

DENOUNCE GOVERNMENT POLICY

(Special to “Guardian.”) WELLINGTON, Feb. 14

Though James Alien and Sir Francis Bell had no possible chance of staying the passage of the Banks Indemnity Bill in the Legislative Council, when it came up from the House of Representatives, the appeals they made towards that end were two of the best speeches delivered in the nominated chamber for' many a long day. Notwithstanding that Sir James and Sir Francis both have reached the measure of four score years they spoke with the clarity and vigour of middle age, and must have impressed many or their fellow councillors who were committed to the Government’s policy. “This policy is not even palliative,” Sir James insisted, “and can only pile up a burden on the remainder of the community, while giving only partial relief to those in necessitious circumstances.” If the Government could confine the relief to necessitous farmers, it was suggested, something might be said in its favour; but there was no assurance that this would be the case. PERILS OF PRODIGALITY. Sir James Allen, in his considered view of the situation, declared that the Government’s policy would seriously jeopardise the enonomic and financial stability of the Dominion, and give practically mo relief to the primary producers.. He agreed with the e.xMinister of Finance, Mr W. Downie Stewart, that it was absolutely necessary that the Budget should be balanced. If the Dominion was going to.have deficits year after year it woulu have to face the consequences. The time might come when the country would not pay its way. The high exchange would have the effect- of seriously curtailing the importation of goods from the United Kingdom and would he contrary to tile spirit and reality of the Ottawa Agreement. This, coming from an ex-Minister of Finance, cannot be dismissed. DOYEN OF COUNCIL. The ‘Evening Post,” in referring to Sir Francis Bell’s protest against the Government’s financing, pays a well deserved compliment to'the doyen of t)lie Legislative Council. “It is im-, possible,” it says, “to resist the conclusion that if Mr Forbes and Mr Coates could have . foreseen these crushing indictments of their policy, they would have remained on “terra fmna” and never have taken thenperilous plunge. Age seems unable to wither, the intellect or the spirit ot Sir Francis Bell. His head is as clear, his language-as lucid, -and his-logic a* irresistible as Jever.” Sir Francis, truly, is a man who lias preserved his brain and his body for the welfare of the public in an amazing measure. He was even more emphatic than -Sir James Allen had been insisting upon the balancing of the . Budget and the discharge of the Dominion’s obligations. These are the points upon which Mr Stewart, with his wider vision, differed from his Coalition colleagues. THE STRONG MAN. The Hon. Robert Masters, who has been styled in some quarters as the strong man of the Coalition Government, replied to the speeches of Sir James ajid Sir Francis with even more than his accustomed tact. “I may say candidly,” he told the Council for the particular benefit of ibis critics, “that if I were assured that the present depression was. going to last I would be an opponent of an increase in the rate of exchange, and no palliative would he effective. The question is, however, are we entitled to assume that it is a permanent depression? if it is not, jj then the palliative of exchange may help us to surmount our present difficulties in the hope that conditions will change with a review of war debts amone the nations of the world.” This, of course, is more or less a gamble, and, with the Government committed to it on a large scale, it looks as if no alternative i s available.