The Times. Published on Tuesday and Friday Afternoons. Motto: Public service. FRIDAY, JULY 30, 1920. FINANCIAL STATEMENT.

Pukekohe & Waiuku Times, Volume 9, Issue 553, 30 July 1920, Page 2

The Times. Published on Tuesday and Friday Afternoons. Motto: Public service. FRIDAY, JULY 30, 1920. FINANCIAL STATEMENT.

The Budget issued a few days ago by the Minister for Finance is disappointing in some respects, notably the small amount of W,650,000 for public works, which include 'Hydroelectric proposals, and £7,500,000 for settlement of ex-soldiers on already settled lands, as distinct from virgin soil. But on the whole it is very satisfactory, particularly so In view of the tremendous and multifarious difficulties now besetting the whole world in regard to matters of finance and economics. There is a surplus for the year of £2,999,416 of revenue over expenditure. Mr. Massey sounds a trite, but very necessary warning against private and public terms we have frequently urged of late, laying it down that increased production and reduced consumption are the only substantial means whereby the balance may be restored between the factors of supply and demand and the cost of living decreased. He aljso avers that the practice of self-reli-ance is essential, over which there can be no dispute. Reference is made to an intended revision of the Custom* tariff and the removal of anomalies; no reduction in the total of revenue from this source, but rather a substantial increase is counted on, revision can certainly be made with advantage by reducing the duty on certain articles not manufactured in the Dominion. It is estimated that Customs will return an extra C4,8:i0,:i24, which increase is problematical, and depends largely upon whether or not our exports increase sufficiently to permit of a great advance in the volume of imports. Higher duties alone will not do the trick, as this method tends to reduce importation. Another factor is that of shipping, which, as it is considered that a further fifteen per cent, will be available, is in our favour. it is a healthy sign that provision is made for scientific research, for it is certain that a tremendous amount of waste goes on in this Dominion which has not a counterpart in older and moro highly organized countries. Furthermore, by the aid of science, our actual production can be immensely increased, and new industries can be inaugurated and existing ones developed to such an extent that the nation will become more nearly self-supporting. With the inclusion of the islands oil our mainland, we have a wide range of climate, and such immense resources that there is ample scope for great extensions. The Premier is on very sound lines when he stresses the fact that ownership of land, as distinct from temporary tenure, is in the best interests )f the Dominion. A warning note is sounded in regard to the wholesale kiHing-cfT of calves, which tendency has been accelerated by new piocesscs which have enabled our factories to extract the whole of the nutriment from the milk, thus obliging dairymen to feed calves on wholly artificial foods. These processes have their advantages, but Mr Massey wisely points out that ihere arc two sides to the question, and producers will be well advised to pay heed to his strictures. The now very topical subjecl of forestry is touched upon, and it is declared that steps are being taken towards reafforestation. We trust that men with a thorough knowledge of indigenous timbers sml also of useful exotics that thrive well in New Zealand will have supervision of this department. We believe that there are several kinds of timbers grown in the Dominion "vhich are almost as good for building purposes as are the kinds commonly used, but the public is prejudiced in favour of some and against other varieties, and an educational campaign is needed to enlighten them. Every person who desires to see a high standard of public life and efficiency in the Public Service will agree with the decision -to remove these services 6till further from political control. Particularly interesting are th'e references to means of communication. The battle of the light aihvays has practically been won, and the results will be hugely beneficial, provided they are buili by private enterprise and a little of that self-reliance the Premier speaks of is given practical application. The exchequer is now and always has been overloaded by c.emands for assistance, ind the "doles" will become more promisory only in nature if the demands are increased. This papei Recently supported the policy ->f an imposition of a tax on motor tyres, the money to •>e spunt in construction aod maintenance of principal roads. We are heartily in accord with this part of the Fin mce Minister's programme, and with the assertion that the money will he Jefi.iitely and unequivocally rilloted for the purpose named. There are other aspects of the Financial Statement which might be traversed, but the ibo\e Must oiifliee for the present. Although disappointments are probably inevitable, the j general public may take comfort from the fact that the Premier is, in the main, keeping to safe lines, soutK. business, and efficient administration, an indication of the latter Wl:«-! ' hen in t! c announcement of the intention to effect long-needed reforms in th« Public Works Department. i