SENSIBLE ADVICE.

Taranaki Daily News, 6 September 1922, Page 4

SENSIBLE ADVICE.

Speaking in the House last week, the Minister for Public Works said: “Anybody can spend money, but my wish is to get value.” It is certainly refreshing to find a Minister actuated by a desire of this kind, for it is just the one thing the taxpayers have been keenly desiring for some years past. —that in the spending of their money by the Government full value would be obtained. The particular advice Mr. Coates had to tender to public bodies on this occasion was that they should wait till prices dropped before embarking on loan works. To back up that advice, he quoted several instances of considerably reduced prices. In one case the price of metal for road work had fallen from £2 a yard, delivered but not spread, to four shillings and ninepence. Rails, which cost £l7 a ton in 1921, were now £ll 17s, while electrical transformers had fallen from 78s to 21s per kilowatt, besides which the cost of building had dropped very materially. For some time past it has been evident that the trend of prices is towards normal, and as wages are lower the cost of production of manufactured material has gone down considerably. It would seem that the Minister’s advice to public bodies to postpone for a while such of their undertakings as are not of the greatest urgency is sound, as much less money will be needed when full value can be obtained. Competition is becoming keener and there are many indications that Mr. Coates has fairly represented the position.