THE AGE WE LIVE IN.

Manawatu Herald, Volume XLIX, Issue 3814, 5 July 1928, Page 2

THE AGE WE LIVE IN.

OVER-EXTRAVAGANCE CAUSE

OF DEPRESSION. SIR ROBERT STOUT’S ADVICE.

Wellington, July 4,

Moving the formal Address-in-Reply motion in the Legislative Council to-day, Sir Robert Stout stressed the importance of the multilateral treaty in the interests of peace put forward by the United States and expressed the hope that it would result in the preservation of peace throughout the world. He justified the action of the ‘Government in Samoa and condemned the statements made in Samoa against the interests of the natives with the object of creating disaffection. He trusted that the investigation of the Royal Commission and of the Hon. W. A. Nosworthy would be a lesson to those who sought to stir up trouble in the islands.

, Sir Robert referred to the agitation for a State Bank, and said its advocates did not appear to realise the risks of such an undertaking and that the Bank of New Zealand was almost a State Bank as the Government held practically a half interest in it. A State Bank would give no relief either to the farmers or to the people. The trouble was that people in New Zealand were over-extravagant, as was evidenced by the consumption of liquor and the expenditure on cinemas. Farmers who said they wanted money should vote prohibition, and then the money spent in liquor would be released for expenditure for more useful purposes.

In support of his advocacy of thrift, the speaker showed that a public contribution of 1/- a week from birth would provide £BB3 18/at the age of GO at five per cent interest. If thrift were practised in that way it would not be necessary to borrow from overseas, while people would be provided for against a rainy day. The motion was seconded by the Hon. G. Witty, who supported Sir Robert Stout’s remarks about Samoa and said no military man should be sent over such people as the Samoans, who required to be governed with tact. He doubted whether the intermediate rural credits system would be successful, but congratulated the Government on its surplus for the past year, which he said, was in contrast to the Australian deficiency. He defended the Government against criticism in respect of the public debt, pointing out that it had been compiled in the creating of interest-earning national assets.

Touching on unemployment, he said he had seen far worse conditions than existed to-day. If men had more grit they would be able to find work, but they must go out of towns. The man who said he would sooner starve than accept reduced wages should be allowed to starve. Sir John Sinclair commented on the growing movement for industrial conference and then emphasised the importance of unity in the Empire. He considered the new system of Imperial communications established at the last Imperial Conference tended to weaken the Empire. The Government could not be held responsible for the recent depression in New Zealand, as this was due ot the decreased purchasing power of money at Home. In this connection he advocated trade within the Empire. The recent industrial conference, he said, could be productive of nothing but good.