“NOT YET BUT!”

Taranaki Central Press, Volume IV, Issue 445, 29 May 1937, Page 7

“NOT YET BUT!”

The Hop Of The Barometer “It is to be hoped that 'the full imp’ication of Mr. Nash’s statement on the Government’s bortbwing policy, will be understood by New Zealanders. The cable reports him to have said that 'there will be no internal borrowing yet. ‘Yet’ is the- key word. ‘Yet’ takes into account that at present the national income in consequence of 'the abnormal price wool has brought, is higher than ever before in New Zealand. ‘Yet’ means that at present the orgy in spending the whole of that income, and also by having increased taxation the country is able «to continue not only some of the discarded! wasteful public works but also begin many new ones. ‘Yet’ also mean that no provision whatever is being prudently made when the peak prices begin to drop. ‘Yet’ means that the people already taxed to a painful degree will, as soon as wool prices drop, have the -thumb screw applied and the present painful taxation will become excruciating agony,’’ says a statement by the National Party Executive. We go blindly on, enjoying the luxury of living beyond our means. The bailiffs may not be far off. When we are seizezd for debt there will be no way of escape. We have to pay our rent, our interest, and for our food. At present the cost o f living is heavily mounting. Women are every day becoming more concerned to make -the wage meet the cost of living. The time must come when we face the black outlook of a homedepression. For the last depression no intelligent person could blame the Government Of the dav ffnr e way. Bor this coming one there will be righteous indigna" iion lagbinjt those vi B r pWJes who

have discarded every safety signal and have led us all, once more, into the agony of depression. It is heartbreaking to contemplate the fact that the country is a t present taxed, to almost breaking point, that we are spending every penny of our phenomenal income, that we are teaching the people to waste, and gulling- them into the belief that there is no need to be ihrifty, no need Ito think of to-morrow. “Eat, drink and be merry;”—-the philosophy of political drunkards. And then at last will cc.me that dreadful ‘Yet’ when wages will fall, taxation will rise, and the young men and women will be forced once more on to 'the labour market to wait for something to turn up.