ONE SIDE OF THE PICTURE.

Wairarapa Age, Volume XXXI, Issue 9056, 3 April 1908, Page 4

ONE SIDE OF THE PICTURE.

If Sir Joseph Ward were not an optimist by nature he would stil'

have good grounds for expressing optimistic views with respect to the future prospects of the dominion if he looked only —as he usuaily does—to one side of the State ledger. The progress and prosperity of the past sixteen years have been remarkable, and if our administrators had been as prudent in their management of the States' business and finances as capable directors usually are in a joint stock company of magnitude, then, indeed, New Zealand might be designated with soma approximation to truth "God's Own Country." It is the expenditure side of the account only that has kept up taxation far beyond the necessities of the position. "Easy come, easy go," has been the motto upon which the Government has acted for many years, and upon which it is acting to-day as unconcernedly as if flush times were going to last for ever. The prospective "rainy day" is entirely overlooked, and he who utters a gentle reminder of possibilities the reverse of brilliant is looked upon as a Jeremiah to be scouted, or a traitor to his country who deserves to be condemned. The fact appears to be that this dominion has flourished rather despite of its administration than because of it. The yearly increment of revenue finds the yearly increment of expenditure proportionately greater, and so we have to bdrrow and to borrow and to borrow, and expend a large percentage of the loan moneys upon making good deficiencies which should properiy be chai'ged to revenue, but which, if so charged, would reduce our periodic record surplusss to zero, if not below. Just now we hear a great deai about our revenue which, aft.r the manner of the kargaroo, progresses "by leaps and bounds," but little is heard of the expenditure which may be said to out-kangaroo the kangaroo in the leaping movement. A series of statistical papers has just been issued, from the Registrar-General's office, all showing in their unadulterated forms the increasing wealth and prosperity of the dominion, but not a single figure is given to show to what extent that wealth is diluted by taxation and administrative extravagance. It is satisfactory to know that the increase in the wealth of the dominion during sixteen years has amounted to £171,206,000; bat it would aid us in forming a more accurate estimate of the position if papers were set o.it the other side of the account. The statement is a rosy one as presented, and appeai'3 to be put forward as a justification for unlimited and ill-con-sidered expendirure, regardless of the possibility of a disastrous and prolonged slump in our staple products. In the event of such a contingency, where would be the fine figures which are now quoted by the Premier with aplomb, and broadcasted by tens of thousands by the Registrar-Genaral? The country is prosperous to a marvellous degree at present; surely now is the time to act prudently for the preservation of that prosperity. Can it be said that our political leaders are doing so? Wo think not.