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The Daily News. FRIDAY, DECEMBER 24, 1920. THE FESTIVAL OF GOOD WILL.

There is no portion of the year r when the spirit of good will is so .d manifest as at Christmastide. p Throughout Christendom it is* kept c as a holiday and an occasion of d social enjoyment, accompanied by i the interchange of those gifts that I emphasise the spirit of the season o and add to its enjoyment, More- i over, it reminds the whole world, t irrespective of race and creed, of 3 the common ties of humanity, and e stresses the lessons of kindness, I amity, and charity one to another, c Few,' if any, have translated the < real meaning of this festival of < good will more ably than < Charles Dickens. For exam- J pie, in his "Christinas Carol," ] he makes Scrooge say: "I will ' honor Christmas in my heart, < and try to keep it all the year. I ' will live in the past, present, and ' future. The spirits of all three shall strive within me. I will not shut out the lessons they teach." The same author puts into the mouth of Marley's phantom these words: "Oh! captive, bound, and double ironed, not to know that ages of incessant labor by immortal creatures, for this earth must pass into eternity before the good of which it is susceptible is all developed. Not to know that any Christian spirit working kindly in its little sphere, wherever it may be, will find its mortal life too short for its vast means of usefulness. Not to know that no space of regret can make amends for,-, one life's opportunity missed!" Christmas furnishes a special opportunity to give pleasure, happiness and usefulness to others, and especially to those in most.need of all this world can give. Even the morose, indifferent and selfish are taken more or less out of themselves by the infectious merriment 1 and good fellowship inherent to the season, whilo lo the sick and sorrowing- it is like a ray of sunshine during a storm, presaging the brighter times to come. To oth- ■ ers the beneficent influence of I Christmas is as an oasis in the dreary, scorching desert of life, refreshing them for the onward journey. To all it is an inspiration to be happy in the good they have done, and to continue in well doing so that they may leave the world at least a little better than they found it. It is well to have one period of the year when trou--7 bles can, for a time at least, be forgotten and the pleasure of givj ing and receiving good wishes and 3 other tokens of kindly feelings enB hanced by being universal. To the a r children' especially Christmas is the time above all others that ap* I peals to them. They may not be y able to realise its full meaning, "' but none the less it inculcates rei ciprocity of feeling and lays the 5 foundations of an altruism that may last throughout their lives. The holiday-making, exceptional expenditure of money,' the family gatherings, and remembrance ot those who are absent, all betoken that deep down in every heart are the genial fires of human kindness and affection ready to burst into flame as occasion offers. But what of the Peace which is associated with the Goodwill of Christmas? We are slowly recovering from ■ one terrible war, only to be facea •■ with another in our midst—a class war wherein the hands of a section of the workers are against all others, and this after nearly two thousand years of the benign influence of ChristiaAity. Why? It is no easier to give satisfactory reasons for industrial turmoil thar to explain why storms rage and epidemics and disease afflict hu manity. It is part of the genera! il- order of things in this world. "All men and women have their sorrows—most of them their wrongs. ingratitude and sordid jealouslj and self interest besetting all de - grees of life." It is well, there fore, there is one time of the yeai when these evidences of frail ha I manity can give place to rejoic ings, and the presence of peace and goodwill, when the true spiril of universal brotherhood is mani fested in the universal wish of "A MERRY CHRISTMAS."

WATERING THE CURRENCY. Last week regulations were gazetted regarding the financing of wool growers. During last session Mr. Massey stated that the Government's guarantee to sheep growers would be limited to hall the estimated value of the security. The regulations appearing in the last Gazette show that the financing is to be done in a very simple fashion—by increasing the note issue. The banks now have authority to issue notes equal to their total holdings in New Zealand ot coin, bullion and public securities, together with advances against subscriptions to the war loans and discharged 1 soldiers' loans. How the banks have availed themselves of the privilege is proved by the fact that in 1914 the notes in circulation totalled less than two millions, whilst in the September quarter of this year the total had increased to £7,600,000. Now the currency is to be further watered to the extent of the «d-

vancos made to wool growers. This is mad finance, not wise finance. What the Government is thinking of in countenancins it we do not know; certainly no well-informed or responsible financier would support such nn unsound and undesirable policy. Mr. Massey himselt lias repeatedly stated that in order to reduce the cost'of living there must he deflation of the currency as well as more production, hut here he is permitting a currency already anaemic to be further depreciated, causing another increase in the cost of living. The chairman of the Bank of New Zealand, in his address the other day, remarked that the plan ol guaranteed advances "would naturally tond to curtail credit in other directions." Mr. Massey gets over the difliculty quite easily by printing oil' more bank notes. He lias only to go on like .this and our currency will be about as weak as thf£ of France or Germany. The guaranteeing of Bheepowners in itself is a very' doubtful policy, and may land the country into a position of «xtreme danger. No doubt the position of wool-growers to-day is a very difficult one. The Home Government holds enormous quantities of wool for which a profitable market cannot be found, whilst the prices realised at the New Zealand sales are quite unpayable. If the Government helps the growers to hold their clips, have not dairy farmers and others an equal claim to Government support should in the future markets go against them? As the Auckland Herald (Mr. Massey's own organ) observes:—"lf bales of wool are adequate backing for the note issue, where will the Government call a halt?

It has power to guarantee advances in respect of primary produce generally, but

if it authorises a fresh issue of notes whenever a section of primary industry is confronted with unfavorable markets, the issue of its policy will be regarded with grave anxiety."

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19201224.2.19

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 24 December 1920, Page 4

Word count
Tapeke kupu
1,184

The Daily News. FRIDAY, DECEMBER 24, 1920. THE FESTIVAL OF GOOD WILL. Taranaki Daily News, 24 December 1920, Page 4

The Daily News. FRIDAY, DECEMBER 24, 1920. THE FESTIVAL OF GOOD WILL. Taranaki Daily News, 24 December 1920, Page 4

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