The Taihape Daily Times AND WAIMARINO ADVOCATE MONDAY, JUNE 28, 1920. MORE MONEY, AND STILL MORE MONEY WANTED.

Taihape Daily Times, Volume XI, Issue 3514, 28 June 1920, Page 4

The Taihape Daily Times AND WAIMARINO ADVOCATE

MONDAY, JUNE 28, 1920. MORE MONEY, AND STILL MORE MONEY WANTED.

With which is incorporated "The Taihape Post aDd Wairuarino News."

The Governor's speech, made at the opening of Parliament, is, from a national viewpoint, extremely depressing reading. It is largely a compilation of difficulties in which Government finds itself, accompanied with an appeal 11 all Members of the House to assist it out of the overwhelming financial bog into which it has drifted: It is a series of lamentations from the captain of the State ship, who is without means Of continuing further navigation, unless he borrows and extorts from his crew, or, in other words, puts heavier taxation upon the shoulders of the people, and raises loans where lie is not willing to tsx. For three or four years the whole Press of the Dominion appealed to the Government, urging it to lake steps towards meeting the dif-

fieiilties that were well it; view, but it seems that a greater dependence was put upon getting some measure of indemnity from Germany than the condition of that country warranted, Nothing was done, land went out of production while the Premier aimlessly shouted for more production, and the Governor's speech now discloses that, a commencement with post war reconstruction of everything is about to be made. Nothing estn be Hone till money is available; even with money, is the public business saf# in the hands of men who have so utterly failed to recognise the condition of the times in which they lived' His Excellency stares that- ''the Government is faced with demands for expenditure far beyond anything which the revenue of the consolidated fund can meet, and our only resource is to borrow within our own borders." The happiness and progress of this great producing country has been entrusted to men wanting in foresight and strength; Government has become rather the tool of the power and cunning of a faction than acted ■upon evidence in abundance which surrounded it on every side of the drift towards bankruptcy. The nmst specious-reasoning has been invented for rabid exploitation of the people and now the exploiters and their Government are af the end of their tether wh?.t pre they going to do about it? While the country has been drifting into an alarming financial position, '.'..■;- n !'n-r,-. r ij ?H hoQv. raised io increase production; in fact production has drifted seriously to the Lad concurrent.lv'

with finance. While reckless expend!

ture by Government and profiteering by trade, commerce and shipping have been rampant the actual production of commodities upon which the country must depend for money, has been dcpressingly decreasing. Is .this late hour, when Government finds itself without a "stiver," the time to set about putting the country's business upon a belter footing? Will the raising of loans within our borders and [ placing of unbearable burdens upon I the shoulders of taxpayers relieve or I aggravate the fearful prospect? The ; balanee-sheets of financial and mere trading institutions clearly indicate that there are too many engaged in handling the fiioney that men in the country produce. Even a reputedly farmers' trading concern boasts that it has, during the last year, made a net profit of thirty per cent, on its | paid-up capital, and that, amazing as i it seems, is small compared with profits made by some financial institutions. Surely the people .of this country are not such fools asso think that profits of that nature are adding to the riches of the country. It is in reality impoverishment of the country, for had the millions that have filtered through into the coffers of huge trading concerns and financial institutions been devoted to increasing production

Government would not now have been tit the mercy of the moneylender and tlm taxgatherer. Some primary producers have lfot stood for decent trading: they have left the country with an inadequate wheat supply' because labour was not available, but when Government guarantees a minimum price of one hundred per cent, above that formerly considered highly (remunerative, there is labour. The se-

cret of the whole trouble is, however, intermediaries between producer and consumer 'are so numerous and voracious that they will, whatever the price, never leave a satisfactory margin for fhe actual producer, nor a reasonable purchasing price to the consumer that will arrest the growth and spread of discontent and resentment which has already reached a seriously threatening stage.