THE TIME TO HELP

Rotorua Morning Post, Volume 3, Issue 613, 18 August 1933, Page 4

THE TIME TO HELP

That thn Government should have definitely refused to entertain the proposal made by the Auckland deputation foT the raising of an internal loan of £10,000,000 is not a matter for surprise. The reception Mr. Coates gave the request was a fairly clear indication of the Government's intention. By way of a courtesy concession, Mr. Coates promised a considered written reply but it was a foregone conclusion that the proposal would be turned down. It was a move quite unlikely to appeal to the Cabinet of which Mr. Coates is unfortunately the present head and it is made more plain than ever that nothing short of a general election will shake the Government out of its disastrous policy of drift. The scheme put forward by the Auckland deputation may not have been perfect in its conception but it was f athered by some prominent businessmen who were unlikely to give their countenance.to thoroughly unsound proposals. However, the peculiar political situation which exists in New Zealand to-day is not calculated to produce any courageous or enlightened attempt to solve, ,or even tide over our present financial difficulties. It was not so very long ago that Mr. Coates was definitely discarded by the electorates, yet to-day with Mr Forbes out of the country, he is able to dictate a policy — or lack of policy — which appears to be largely in opposition to the wishes of the majority of the people There can be no doubt wbatever that a strong feeling exists in favour of adopting some financial measure to ease the burden of the slump. The continual increase of taxation as a carollary to reduced wages has been tried and found wanting and it is time some new line of thought was adopted. It is all very well for Mr. Coates to declare that nothing .must be dorie, to hamper recovery, "particularly, as at the moment, there are indications that the worst is past." But is this so ? A glance at the unemployment figures pn(blished yesterday: will show that the industrial position has certainly not improved. The total r'egistrations for the month eriding August 8 showed an increase of 3057 ori the July period. We have now 78,091 unemployed men upon the registers of the Dominion, which can be classed as riothing short of a disgrace to the country. This increase, be it marked too, is in spite of .the building subsidy and the r'evival of interest in goldmiriing. What is more significant still is the fact that unemployriient has increased in spite of greatly improved prices for prirriary products. Wool, meat, and dairy produce have regained a very satisfactory staridard, giving reasonable hope to the farmers of a good year to come. The change justifies some prompt and effective action by the Government to give the country its final impetus toward recovery. Wage earriers and business people have stood about all the burden it is possible to place upon them. The slump has hit so hard that thousands of good workmen have become disheartened and demoralised; it has hit so hard that thousands of small businesses are _ ori the edge of bankruptcy. Mr. Goatesf talk of being caf eful not to make recovery "more difficult by increasing overhead costs, of destroyirig the essential elements of business confidence." is- all political eye-wash. The interest on a substantial internal loan to put men back into profitable employment, would be a friere bagatell compared with what is beirfg lost now t'hrough lack of trade

arid festricted earning p'ower. This . timid reluctance of Mr. j Coates to faise money to help ; the country ovef its last hurdle ;could welL be the subject of • ironical laughter if the position were not so tragieally serious. •Mr. Coates and his assoeiates ; joyfully put eighty miliions on ; to our loan billi when the money was largely wanted for luxuries and valuation boosting but ;they now shrink from raising a jfraction of the amouht to lift the burden of hardship from the shoulders of the great majority of the people.