CURRENT TOPICS.

Taranaki Daily News, 9 August 1916, Page 4

CURRENT TOPICS.

CUTTING OUT LUXURIES. We imported from America last quarter goods to the value of ovei a million sterling, nearly half as much as we imported in the twelve months of 1014 (comments the Lyttelton Times).' The details of the imports are not yet available, but it is safe to say that a large proportion of our purchases from the United States consisted of goods not needed foi the development of our resources and'goods that could only he classed as luxuries. Attention has been directed to the importation of motorcars, and the official justification has been advanced that we have to take goods in exchange for the products which we are selling to the United States. But the obvious retort is that the importation of motor-cars prevents the importation of goods that are much more pressingly needed—if, indeed, we are prepared to concede that the automobiles are no"t wholly in the category of luxuries. There 'is another aspect to this question, however, because in buying heavily in American motor-cars 'Ninv Zealand is.accumulating stocks of goods that could'jnd should be purchased from the Mother Country after the war. The Americans are, like ourselves, prospering through the, war. and every mails brings us evidence that they are applying the new capital to the extension of plants and to preparations for the great commercial struggle that will come with the declaration of peace. Not merely are we spending on luxuries money that ought to be devoted to the prosecution of "the war, therefore, but we are also assisting a commercial rival of our own Mother Country and of all the Allied countries to build up a strong position against the day when the trade war will be opened in earnest. It is true that we have the money to spend, but it ought to he invested now and not dissipated in riotous living. After two years of war we are still waiting for the Government to give the people a lead; and apparently we shall have to wait until Parliament again assembles. It is not a comforting reflection that the country which, in all the Empire, had the best opportunity for following the right and sound financial and economic policy has been the last to show an appreciation of the most obvious and most elementary facts.