AUCKLAND NOTES

Hokitika Guardian, 8 April 1933, Page 6

AUCKLAND NOTES

Special Correspondent.

The correspondence columns in the papers here have been -pretty .full of aimless discussion on the A pi us B theory, oil which the Douglas Credit System .'is supposed to be based. If so it is bailed on an bsc’utelv unsound foundation ' and on reading t] le Jett-'fs about it you can see -as it were.;! the mental fog rising, and becoming fin-we and aiQ.ro. impenetrniblo. .?jiUn fort una ie. ly this mental fog obscures Up., dangerous fallacy that industry generally, owes a debt' to those who in ' oq-* way contribute t.n it. A t'legal', friend'' 7 of mine who had waded through the mass-' of literature which professes to explain the scheme, tersely summarised th e whole thing as “camouflaged Bolshevism." Surely this is a lime when “I’i’-d leaders of- th« blind’’ ne to be found everywhere. The fact that'"they ,ar e able to obtain followers amongA those who “arc normally quite intelligent is duo possibly to 1110 abnormal strain which most people have to stahd up to in these times of stress andworry. Th e dread , 0 f unemployment, the fear of bankruptcy, the depreciation of assets, the instability oi credit the increases inataxation, .and the (bewildering outlook for the future, .probably •' catiscs the average man to turn to anything which promises some form of relief. But if these'promixes are il’usury,. and the relief - promisee as impracticable a note ■of warning should be issued as to the very deep ditch ahead for those wh 0 follow the bogey of free distribution of credit (or currency) for which no return is demanded. The’ Prime minister has paid a v '-it to Auckland, and wa s the guest of the Chamber of Commerce. He humourously referred to his tenacity in bearding the ]ion in his den. Probably ; he knew what was under the lion’s skirt'; Anyhow he did not appear unduly intimidated and” - good humouredly ' Vemarked that the drafting of resolutions of censure on tho Government and its policy appeared to constitute, a material proportion of the activities of the Chamber. He declined to be drawn on the question as to whether public services' competing with private "enterprise should be taxed in the .‘time manner, and be bound by the same restrictions. This- has always' been a sore siibiect with the commei’cal comnjunity but'it was one oh which there not the slightest chance of a de•i finite pronouncement 'of policy being made .at the present stage. On the question Of cxchihge'A:|r"Pnrbe s Also (.Inclined to' he drawn' beyond ' stating that there .were evidently two 'schools, ojf''thought . 0 n this'matter, and' he declined t n decide' as between them. In this h® has 'been accused of weakness—and perhaps, properly so; But. it -is an old faying' ’ thit' when' doctors differ who shall decide? 'HeT v was faced with jtoMict ‘oi' expert opinion -in -a. else wjher'd' there should have ' ibeen "tindni-'' npty. And though (Tuit;'’properly’ hV might hAVe'' been 'looked' oh ' to ' give" ;Y firm'; decision' ho wa.s .Khiiclicapped by' •being 'bound to a coalition’ which 'at •best can only be looked wn for a p.'Vvv of compromise!,.. Mr .Forbes, personally

received .a very warm welcome " and

sympathetic r caption jn Auckland., where many realise the trouble he -has had ' to face l in njiofi'rig .the,; ’ country through possibly the most.'/critical per-. iod in its histoVy."' ‘ v "'• - Very keen interest is'taken., .in Auckland regarding mining developments, and. though there may be perhaps --atendency to reckless speculation in some cases ~yet for the most part, it i.s piiily properties which Innq.'shown a tangible value which are. i;i'_'favdii)\, The i-oturns from the Five Mile'-Okanr tp. are eagerly watched for. and ; th* latest return of 141 ounce s for 118 ■hours’ working w»’l have a hardening effect on shares which bov-? holding . steadily in the. vi ein.itv of 9s on th 0 local exchange. There is. a rumour current Ao-day that .y.rrv impm-t lit developments are expected i n Otago, i

Tt so-envs highly probab'e that • ;go!T mining will now. as in- the. pa s t, prove the mean,s of j.h.,_ country oat of its present depression. Many of the older Auckland rodents- remember the deplorable conditions, prevailing here prior to the . Thame-:, and : On?-. ninnde! goldfields -being .-and clearly visualise how ht-tory mavc- re-, peat itself and prosperity quickly; ..•return under the stimulus of the: l opening up of a new. goldfield. . . , There has. been quite a rush ofyaprr plj to have their valuations-.. ; re-.-.. ducecl. in the,.city,, there - having bcenovep .six tliQunand objections lodged, with-• the Assessment Court. There is no doubt the valuations now. are ridiculously high, and, no. doobt they, will be substantially ~-cdiiced—t hp Gas C o| »- pany for instance has had its annual rateable value' reduced from £I2OO to £770. But even assuming the vain a,-, tioiis were, reduced by half. it . ,is doulylful if the ratepayers on , the,;, whole will, benefit.. If .the municipal authorities require a eeyt i;n amount .of

revenue annually, it will simply raise the rate's .as the valuations ar 0 rco duced. There sti.J] great interest gliovn in the. small settlement scheme, which is thought to ho particularly .suited to the pumice l lands of 'the north. One local resident has offered fo give a block of a .thousand acres .to the Government if it will settle twenty familio.-.-on 50 acres apiece. The land is said to be quite suitable for the -purpose, land it is to be hoped th e offer wil’ be -accepted, and the experiment tried as the pumice land under proper treatment is wonderfully fertile. ,