FINANCIAL RESPONSIBILITY.

Manawatu Herald, Volume XLI, Issue 2034, 27 September 1919, Page 2

FINANCIAL RESPONSIBILITY.

PERHAPS (tie most luminous page of the Financial Statement, is that which, under the beading of '‘Financial Responsibilities, 1 " deals with the amount of loan money required during the twelve months beginning on the Ist Sept ember. The items, with the unexhausted authorities, (he cash _ balances available, and the sources of supply,- are summarised in a very convenient and’instructive table. The Post points out that nothing could show more clearly how completely our ImahcgJs overshadowed and dominated by the effects of the war. For the normal pur-' poses of peace a ..modest million is required,£soo,ooo for Public Works, and another £500,000 for land’and. buildings for educational purposes. In passing, let us say that the latter item, which is to he increased during each of the next four years to £750,000, and the addition of £200,000 to the Education Estimates for increasing the salaries and allowances of teachers, are two of the very best things in the programme of the Government. As against the million of loan .money thus required for education and public works, the legacies of the war are represented by the following items Expeditionary Force, £8,775,000; gratuities and allowances, £0,050,000; discharged soldiers settlement, £12,500.000; and land for settlements on account of soldiers, „£2,000,000. These military items make a total of £20,325,000 ouHfcf an aggregate of £30,325,000 required for all purposes. Nothing could show more clearly how lirmlv the war still holds'us.in ils grip. A proposal which is -likely to command general approval is the appropriation of £12,500,000 from the 'accumulated surplus of £15,230,501 to linanee the heaviest of (he military items —the cost of the discharged soldiers’ settlement scheme. The applications lor the £10,000,000 loan are not coming in so fast as to suggest that another loan of a larger amount could he successfully negotiated at once, and Sir Joseph Ward himself may perhaps see that the idea has advantages over his own proposal to apply the whole of the surplus in reduction of (lie war debt.