THE Wairarapa Age MORNING DAILY. TUESDAY, JUNE 2, 1908. THE NATIONAL CREDIT.

Wairarapa Age, Volume XXXI, Issue 9104, 2 June 1908, Page 4

THE Wairarapa Age MORNING DAILY. TUESDAY, JUNE 2, 1908. THE NATIONAL CREDIT.

The "Statist," which is an acknowledged authority on financial matters, in a recent issue, says that the finances of the British Empire are being rapidly strengthened, and that the people of England can look forward t.) the tuture with a much greater sense of security than (hey felt a few years ago. During the South African war the debt of the country was vastly increased. In consequence not only of the expenditures upon the war, but of the large amounts of money expended for works of all kinds and descriptions. And simultaneously with the vast increase of debt incurred for war and for works, the recurring expenditures of the nation grew by leaps and bounds. The present Government was returned to power, among other things, for the purpose of restoring the finances of the country to a

healthier and sounder condition; they have performed the work entrusted to them with wisdom and discretion. The mere statement of the figures does not indicate all that has been done. The figures show that the growth of expenditure has been checked, that taxation has been remitted, and that a vast amount of debt has been redeemed. But the figures tell only a portion of the tale. Without any addition to, in fact with a reduction in, the expenditures upon the navy, the British fleet has become much mora powerful, and as a fighting force has never been so strong either actually or relatively. Further, without any addition to the expenditures upon the army, the military strength of the country has been much enhanced. In brief, in the short space of two years, the defensive and offensive power of the British nation has been immensely increased—(l) by the greatly improved organisation of the navy and of the army, and (2) by the manner in which the finances of the country have been strengthened. *'