The Daily News. SATURDAY, AUG. 5, 1905. THE FINANCIAL DEBATE.

Taranaki Daily News, Volume XLVII, Issue 7891, 5 August 1905, Page 2

The Daily News. SATURDAY, AUG. 5, 1905. THE FINANCIAL DEBATE.

0 It was anticipated that, in view of the coming general election, the Leader of the Opposition would have used the debate on the Budget as a means for attacking the policy of the Government and developing the policy of his party. He certainly had every opportunity and encouragement tor laying bare Ministerial shortcomings and endeavouring to prove to the country that a change of administration was necessary. There was i a large attendance of members in i the House when Mr MasSey rose t« speak ; the galleries were full, and the reporters were, as usual, ready and willing to semi forth to the colony, at large the weighty and trenchant criticisms which were expected to be in evidence. Mr Masscy, however, sadly disappointed the prophets, for his speech plainly showed that there were few, if any, weak spots in the Government's financial policy, The intense feebleness of Mr Masscy's attack must have been painfully evident to those who were in the House. Of course, there were rhe old stock arguments against charging to capital account items which Mr Massey, while out of office, considers should he charged to revenue ; duplication of votes ; the non-expenditure of all the money voted for roads and bridges ; the borrowing of money for public works in times of prosperity ; besides the usual tirade against the audi) system, an<l a very weak attempt to whittle down the surplus by a process which docs not reflect much credit on his ingenuity or financial knowledge. As a matter of fact, the Budget was so plain and straightforward, and its figures afforded such conclusive proof of the soundness and prospciily of the colony, that the Uader of tbe Opposition had a hopeless task before him. The Minister for Mines bad not the slightest difficulty in completely .disposing of Mr Massey's arguments, and with regard to borrowing he pointed out (what is apparent to all sensible peopfe) that the best time to borrow was certainly when credit was good and file country was in a prosperous condition, for at such a time better Xerms could be obtained than at others. Mr Duthie was obliged to admi! that the country was quite sound ami solvent and that the people were belU-r off than in the years gone by, though he made a vague charge against the Government of waste and extravagance, and con!-ndjd tl at there ought to be a rclaxa ion of the taxation to the extent of half a million. The absurdity 0 f Mich a jioposal is self-evident, unless recourse is to be had to a system of '•reckless borrowing," which the Opposition are always ready to denounce. The debate has narrowly escaped sudden death two or three times! so that practically no interest is being taken in it by members. The Opposition arc ioalising that. they have no case, and it would therefore be well if the House were to get to other business without further loss of time.