Manawatu Herald. SATURDAY, OCTOBER 13, l9l7. FINANCIAL PRUDENCE.

Manawatu Herald, Volume XXXIX, Issue 1740, 13 October 1917, Page 2

Manawatu Herald. SATURDAY, OCTOBER 13, 1917. FINANCIAL PRUDENCE.

DURING a warm debate on the limit .stages of the War Pensions Amendment Bill in the House of Representatives on Wednesday night, Sir Joseph Ward said he did not think there were many people in New Zealand who were not willing to do their best for the wives and widows and children of those who went to the war. But they must have a sense of proportion. They could not allow their hearts only to prompt them. Already the money for which we were responsible was reaching close up to £50,000,000, and the amount would have to be increased after the end of July if the war was not then over. Prudence was an absolute necessity, and they must'tell the people what the war expenditure meant. Who was going to suffer if our financial obli-

gations were not carried out, and if arrangements were not made for the industrial and commercial war which had yet to take place? Unless the Government was not prepared to recommence on a new plane the persons to suffer would be the small wage-earner —say up to £4 a week. Unless the Government could ease off taxation a condition of very great difficulty would arise. The longer the war lasted the worse the*- future conditions would be, but in any case the man who had to depend solely on his bone and sinew would be the chief sufferer. Sir Joseph Ward went on to contend that the borrowing for the future was by no means an easy matter, and he marvelled when presumably sensible men suggested that it was the easiest thing in the world to borrow additional millions. What we had first to do was to carry out present obligations. He reiterated that an increase of death duties would not produce the immediate revenue that was. required, and as to the proposed change in the pensions which had been discussed, he wanted to know what reason they could possibly find for imposing on the tax-payer an additional .liability of £894.000 a year. No one could say when the war would end. Our liability was now £36,700,000, and if '*the war went on we would have to possibly reach up to a Ua-

bility of £70,000,000 or £80,000,000, There would be great changes in New Zealand and all over the world after the war, and as sensible men they must shape their course with the idea of making provision for at least another year. If they did not do so they could only be regarded as insane, because they would destroy the sources from which revenue was now being derived. He was not a pessimist, but he understood the burden on the back of the country, and they could not expect the Government to yield on the score of popularity, because the interests of the country were supreme. He was prepared to go as far as anybody, but. they had to tell the people of Parliament that if they were asked to go over the border they (the Government) would not do it. Sir Joseph believed that the historian of the future, when he saw what New Zealand had done in connection with the war, would say that the measures contained in this Bill were generous. Members should recognise what an enormous financial responsibility the Dominion had; he urged them not to magnify small things into great things, but to appreciate the fact that the Bill contained the best provisions possible for soldiers and their dependents.