FINANCES OF DOMINION.

Taranaki Daily News, 12 June 1919, Page 12

FINANCES OF DOMINION.

'] r -NO SIGN "OF RETRENCHMENT." I The administration of the nations' finances was criticised by Mr P. Davidson, president of the Canterbury Chamber of Commerce, in his quarterly report to the chamber. Mr Davidson said it was only natural that a good deal of anxiety should exist regarding the finances of the Dominion. It was, of course, to be supposed that, with the cessation of hostilities, some curtailment of expenditure would be apparent, but the upending departments did not seem to have lessened their demands to the e.vtent that might have been expected. He did not refer to the provision being made for the repatriation of soldiers and assistance to the dependents of those who !ia4 fallen, but to the hordes of wartime officials who were holding on to their jobs, many of them finding post-war tasks. None of the Dominion's statesmen seemed concerned to inquire whether it could afford to go on spending indefinitely. The most disquieting feature of the situation was the financial irresponsibility of the Government. When wns (he whole situation going to he faced courageously and the national outgoings placed on a peace basis, with economy as the dominant principle? At present there was no sign of retrenchment. The Dominion could not be financed on borrowings indefinitely. Taxation might be, must he, heavy for years to come, though the people had a right to look for some relief in the form of an indemnity to be paid by the enemy. Their best hopes should he fixed on a policy of'financial retrenchment and the drastic *iU3*ilm«nt of Qoysrnfflent. axnendituw.