Wairarapa Age MORNING DAILY. SATURDAY, JUNE 17, 1911. A NOTE OF WARNING.

Wairarapa Age, Volume XXXII, Issue 10265, 17 June 1911, Page 4

Wairarapa Age MORNING DAILY. SATURDAY, JUNE 17, 1911. A NOTE OF WARNING.

Tm tihe,, course of his address at the annual meeting of the Bank of New Zealand in Wellington yesterday, the Chairman of Directors (Mr Hanold Beauoliaantp), after reviewing the, of tie Dominion for the paist few yeans, uttered a note of warning (Mmoernang the future. His statement that during the past four years the value of the exports from New Zealand was two million pounds less .than the amount paiid out for imports and. interest on the national debt, affords a good deal of scope for, .discussion. Ifr is not at all pleasant to contemplate that mare money is going out of tihe Dominion, than is coming into it. Mir Beaudhamip, however, did not suggest a remedy. Had. he felt that, in has position, lie was entirely indiependent of tiie Government, he would proibaifrly have stated plainly that what is required in this country is a bold, sdheme for development of the idle landis, and a curtailing of public as well as private extravagance. There are millions of acres 1 of land lying dormant in New Zealand. The borrowing operations of the Goveimmearb are increasing to alarming proportions, and tihe value of our output is not increasing in anything like thesame ra.tio. It may be true, as Mr Beauolia,mp stated, that thea*e is an abundance of money in the Dominion, but that capitalists are fighting shy of investments. Why does he not give us tihe reason and the remedy? Is not tihe socialistic trend of our legislation largely responsible for the reluctance of capita lists to invest? And is not the i-emody to be found in putting imen upon the land., wihere ffhey will breathe tihe pure air of oontemtonjerat, instead of inhaling in the. smoke-ibegrimed cities the poisonous atmosphere of Socialism

and unrest? Hies© aire days of plain speaking, and no good purpose can be served by approaching social problems with the academic gloves an. The position, as it ha® arisen, must be faced. If we are going to , the bad, let us call a halt, and take a .survey of the situation. There is something anomalous about the head, of ia financial institution which, d® declaring a dividend of 15 per cent, becoming alarmed at capitalists refraining from investing their wealth in industries. This, however, is another story. It is an aspect of the question whidh will pnoibably be discussed in another quarter. The point for con si deration presently is: Haw are we going to pay our way i as a nation ?