THE FINANCIAL STATEMENT.

Taihape Daily Times, 25 September 1919, Page 6

THE FINANCIAL STATEMENT.

INDUSTRIAL UNREST. There is no subject which demands i ntore earnest consideration from j thinking men and women at the present time than the problem of indust- { rialunrest. I As the result of a Labour Conference I held in July, 1918, a report was issued j to the trade union movement in Nov I Zealand, the study of which I comI j mend to my fellow-members and the j public generally Th report rcognises . necessity for some constructive action to meet the present unsatisfac tory conditions, and statg that “The hope of the immediate future undoubt- | edly lies in the intimate and continI nous association ot‘ both management | and labour for tbiT'purpose of adjustI ing differences and for the purpose of I promoting the progressive improvement of their industrial service from which alone the national prosperity can be derived,” and proposes an or ganisation for the guidance of indus try ,consisting of a National Industrial Council composed of representatives of employers and employed, with Joint District Councils and Works Committees. The proposals are based oh the recommendations contained in reports to the British Prime Minister of a subcommittee of the Reconstruction Committee, generally spoken of as the “Whiteley reports,” The British GovI eminent adopted the recommendations 1 in the Whiteley reports, both for Gov eminent industrial establishments and for outside Industrie# as well, and for these latter a considerable number of Joint Standing Industrial Councils. Interim Industrial Reconstruction Com mittees. and Trade Boards have been brought into existence. As illustrating the purposes for which these organisations have been formed, I refer to the report of the National Joint Industrial Council for the British Coirmat and Matting Industry, which stales the objects:— “The Council is a Trade Parliament, composed of employers’ and workers’ representatives in equal numbers. Its primary objet i#'to secure, by associa tion in its government of all engaged in the industry, the advancement in the industry and of all connected therewith. It will endeavour by the fullest and freest discussion to establish such conditions as shall be equit able as between employer and employed. “Meetings of the Council will bo held at least once a quarter, and the following questions, amongst others, will be considered: “(a) Wages, hours, and working conditions in the industry as a whole. “(b) Measures for regularising pre-' duction and employment, for reducing the effects of sea sonal fluctuations, and for ensuring to the work-people the greatest possible security of earnings_ “(d) The improvement of the health conditions obtaining in the

industry.” How far the scheme has developed in its application to Government in dustrial establishments I am unable to say, but the Right Hon. Sir R. Horne. Minister of Labour, speaking at a preliminary Conference held on the 20th February. 1919. said: “I want you to know that wherever the Government is in the position of employer, they are agreed that this principle which gives the workmen a share in the management shall 'He carried out.”

: »WELLINGTON, Sept. 2-1. A The ‘Financial Statement was prosienited‘ ‘to Parliamjent yes-tteltilay ;by the Hon. Sir_- James Allen, Minister of I;inance_ We make the following ex~ *bre.ctAs‘trom the Statement:—— DISCI-Z,{A‘R,GED SOLDIER SET'_l‘L}-3- . ‘ _ MENT. 1 Great activity bras been disprayeé‘. in the Work of .-this impol"?:Lnt branch of the Department. The total area proclaimed under the Discharged Soldiers’ Settlement Act, 1915, up to 31st March, 1919, was 507,890 acres, of which an area of 113,671 .acres was prochimetl dnring the year. _ Po;FsS‘e,s'sion was pbpained by the Crown of thirty-one estates purchased. from privcéffe owners under the L=«m<l for Settlements Act, the nrajority of whichhave been subdivided and selected. In addition, the purchase of a nu;n~ ber of other properties was completed, but possession had not been given at the close of the year.

All classes of land which are considered to be suitable for farming by discharged soldiers are being utilised for this purpose, and, in aiddition, many pastoral runs in the South Island, the licenses of which have expired, are being subdivided and will be disposed of to soldiers experienced in this class

of farming. Many discharged soldiers continue to take a‘dv:antage of the benefits conferred by sections 2 and 3 of the Discharged Soldiers’ Settlement Amendment Act, 1917. Under the first-mentioned section they may -obtain financial assistance to acquire freehold or crown leasehold, and to‘effe'ct improvements thereon, whilst under the latter sectionholdings may be acquired for one or more: soldier applicants through -the medium of the Land Purchase Board. The advances a.uth~o»rised nearly reached the amount of loan which can be raised under the provision of section 8 of the Discharged Soldiers’ Settlement Act, 1915; Owing to the rapid demobilisation of troops, and the greater expedition now shown by the Lands Department in arranging and settling transactions, the whole -of the loan authorised has since been raised, and applications have -been recommended by the various Land Boards considerably in excess of this amount. It is anticipated that requests for financial assistance this year will be very heavy, arid provision -is being made accordingly. " A STATE ADVANCES OFFICE.

During th'e year the Department has, through accumulations of capital, been able to increase the limits of advance to settlers, workers, and local authorities. The amount that can be borrowed by a. local authority in any year has been increased from £SOOO to £IO,OOO. To those in search of a. home, the sum of £IOOO can be lent by the Settlers’ Branch. To settlers for improvements on rural lands. the sum of £IOOO can still be borrowed, whilst for repayment oflmortgagesbn real estate £450 is :zlva.ila.ble.v To the workers, £450, the maximunl sunr allowed by law, is obtainable, provided the security igsufficient and satisfactory. ‘ During the period of the war, the rate of interest chargezable to borrowers on loans remained ‘unchanged: 4-} per cent is payable by local authorities, and 5 per cent by settlers and workers_ The l;a-tter rate is, however, reducible to 4?} per cent when payment is made promptly. WAR EXPENDITURE.

At the endof the financial year 191819 the war eripenditure of this Dominion, including irnprest, advances outstanding, had reached the sum of £62,636,720; whilst towards nieeting commitments connected with the New Zealand Expeditionary force, inelulding charges for the maintenance of our troo-ps'in the field, equipment, supplies, pay, allowances, and other incidental charges, there was a cash balance and tempol'al'y ‘ investments amounting to £(3,054_.-£96. These Sums do not include provision for interest and sinking-fund charges on war loans raised, nor for war pensions, which -are a charge upon the ordinary revenue of ‘ the Dominion. Notwithstanding the fact that the war has concluded, "our financial re-3 Slionsibility remains very great, as‘ large Sums will have to be provided for gratuities, cost of repatriation, etc. H‘~‘3")’ Charges for the sea transport. of ‘the returning troops, their pay, maintenance, etc., has to be met t Educational and vocational training‘ ‘of undischarged returned soldiers; 1 Special attention is paid to the educational and vocational training of I'o. turned soldiers by the Defence Depart. ment. \V3rkshops have been. built and equipped at. nineteen hospitals and san. ator-ia. The funds for necessary bum}ings and a considerable portion of the equipment. have been pi-ovidted by the New Zealand Red Cross and other patriotic societies. There are sixtyeight instructors now engaged by the Department and the subjects taught number fifty-nine. ‘The work has a. -YB-I’ll=Bble curative effect,-anid is designed to prepare soldiers to go back to ci_v.il’li'fe_ l . ‘