The Daily News. SATURDAY, DECEMBER 30, 1922. THE PASSING YEAR.

Taranaki Daily News, 30 December 1922, Page 4

The Daily News. SATURDAY, DECEMBER 30, 1922. THE PASSING YEAR.

In some respects the year that is now about to close has seen events of outstanding importance occur, yet throughout the world the aftermath of the Great War is still exercising a baneful influence on the nations, and u war cloud is hovering over the Near East. Despite all the unrest that has left its mark on the year 1922, and notwithstanding the serious financial and economical difficulties which loomed so large at one period of the year, its close shows welcome gleams of brightness, especially so far as the producers of the Dominion are concerned, which inspires confidence in the future and relieves the anxiety that has marked the past. So far as the British Empire is concerned, there have been several events of outstanding importance. It will probably be considered that the chief historical event was the signing of the Irish Treaty, under which the people of that country have been granted the fullest measure of self-government enjoyed by any of the Dominions. Although there unhappily still exists a small, but determined, band of Irish Republican rebels who are engaged in committing horrible outrages, there are indications that the back of this trouble is practically broken, and it is hoped the coming year will see Ireland enjoying that peace and prosperity for which she has yearned for centuries. May she make the best of her opportunities and become a happy, contented and loyal country! The

effort to bring the nations into accord over the reduction of armaments, the cost of which pressed crushing!/ on all the Great Powers, met with a fair measure of success as to naval strength, but France proved the stumbling block with regard to territorial forces. Unfortunately that was not the only trouble caused by France, the change of Government leading to a hostile policy towards Germany, whose failure to discharge her reparations obligations caused much irritation in France, for which the British Premier (Mr. Lloyd George( had to shouldei- most of the blame. That, and the serious trouble with Turkey, brought about a change of Government at Home, a feature of the general elections being the Labor gains, in large measure due to the extent of unemployment, , the remedy for which has still to be found. It is significant that the new Government in Britain had to carry on the policy of its predecessors, and though the Conservatives received a good majority, it is quite on the cards that their tenure of office may be of not a lengthy duration. One of the gratifying features of the expiring year has been the lifting of the financial stringency and the strides made towards stability. That the corner lias been turned —and well turned—is a well established fact, but until industry is able to provide work for the unemployed the situation will lemain unsatisfactory. Naturally it is hoped that this evil will be mitigated considerably in the coming year. New Zealand has had her share of trouble arising out of the recent wave of depres sion and the aftermath of boom times as evidenced in the fall of produce values. Under the circumstances the Dominion has come through the trying period without serious results, testifying to the solidity and strength of its finances and resources, as well as the industry and thrift of the people. Prices of produce have improved materially, except for frozen beef, while the output has increased most satisfactorily, though there is ample room for greater development. These factors, and the lowering of the cost of living, should enable the community to face the new year with confidence and cheerfulness. The political situation, as the result of the recent general elections, is not as satisfactory as could be wished, and may involve another appeal to the country, but even that step cannot affect the bright prospect meets the eyes of the producers at the dawn of the new year, especially in Taranaki, where the growth of the dairying industry has proved a dominant factor in enabling the country to emerge from an unparalleled period of depression with its credit higher than ever. Altogether the prospects for 1923< are certainly favorable, and justify our sincere wish that one and all will have “A HAPPY & PROSPEROUS NEW YEAR.”