NEW SOUTH WALES FINANCES."

Taranaki Daily News, 18 November 1926, Page 8

NEW SOUTH WALES FINANCES."

Jf the managing director of a commercial undertaking presented a balance-sheet to his shareholders showing a huge loss on a year’s working, and then calmly informed them “that no good purpose would be served by submitting to them details of the operations” which had led to so deplorable a result, he would receive, as he would deserve, short shrift. Yet according to a cable message received on Tuesday it was practically in those words that the Labour Premier of New South Wales (Mr. Lang) introduced his Budget. That financial statement revealed a deficiency of over a million and a quarter pounds for the past financial year. Having airily dismissed the mistakes and the losses of the past, and briefly indicated the new burden the taxpayer must accept in the hope of making the State’s finances for the coming year balance, the Premier added that “the seasonal prospects this year were much brighter. The general prosperity of the State was excellent and marked development was noticeable on ali sides. The condition of the masses was never better.” Such official optimism may sustain the spirits of the party whose servant the Premier is, but it will, not lighten the increased load the taxpayer is to carry. With the memory of its last loan a drug on the London market, bush fires and droughty weather at present constituting a grave menace to the rich northern coast districts (which are the Taranaki of New South Wales), with industrial disputes ready to blaze into industrial strife at anv moment, and with the demands of labour ever adding to the cost of living, it is questionable if the “masses” of which Mr. Lang speaks with so much confidence will share his point of view.