The Gisborne Times PUBLISHED EVERY MORNING. MONDAY, MAY 3,1909. THE PREMIER AT INVERCARGILL

Gisborne Times, Volume XXVII, Issue 2491, 3 May 1909, Page 4

The Gisborne Times PUBLISHED EVERY MORNING. MONDAY, MAY 3,1909. THE PREMIER AT INVERCARGILL

Judged by the summary of his remarks, which is published elsewhere, Sir Joseph AA 7 ard made a very interesting speech at Invercargill on Saturday night. He evidently handled a large number of subjects, but it seems peculiar that, as this was announced to be a policy speech, he did not give any further information concerning, his retrenchment proposals. Some few weeks back Sir Joseph created a mild excitement throughout the country by the statement that he intended to economise in tho civil service to such an extent that no lees a sum than £250,000 was. to bo saved from the yearly expenditure. Sinco then we have heard of a few clerks being dismissed, of others being retired, a number of Departmental changes have been made, and a few score men have been discharged from the railway workshops, but these are too insignificant to have any marked effect inscurtailincut of expenditure. AVliilst everyone is waiting to see how this wizard of finance is going to save a quarter of a million a year without permitting the public service to suffer, he calmly informs his audience at Invercargill that clerks who are to he dismissed will, at any rate, bo kept on until the winter is over, and loaves the rest to their imagination. Meanwhile the Premier assures us that the finances of the country arc sound—whoever heard of a Liberal Prime Minister admitting that the finances were unsound?—and gives proofs of the •'-financial stability” of the country. This proof is supposed to he contained in the assertion that of £7,000,-. 000 worth .of loans authorised by Parliament the whole amount has been provided for. The revenue for the year appears to have been fairly well main-, tamed iu most Departments, Jmt there is a marked falling-off* i-n the Customs returns, which latter * is a necessary corollary to tho decreased spending power of the people and the lessened imports. However, the revenue as a whole, exceeded £9,000,000, and surpassed that of tho previous year by £600,000. There is, of course, a surplus-—that p’easant little phase of financial jugglery with which the late Air. Scddon was wont to tickle the ears of his people—which lias naturally been copied by his successor. The surplus can always be arranged to make its appearance at the end of the financial year by the simple expedient of under-estimating the revenue or overestimating the expenditure when tho Estimates are framed. As a matter of fact, a large surplus provides strong prima facie evidence ..of bad judgment on the part of the Colonial Treasurer in computing his Estimates. In the present instance it stands at the modest sum of £154,321. Sir Joseph lias evidently become somewhat resentful of the term “optimistic” as applied to his grandiloquent eulogiums on. the condition of the country, but ho still could not resist tho temptation to make the financial pill as pleasant as possible. Ho said that there was a much better feeling amongst commercial men, than there had been for some time, as to the business prospects for the future. AA r e sincerely trust that the Premier will prove a much better judge than he was a twelvemonth ago when lie boasted that the world-wide depression, which had its commencement in the AVall Street panic, would not make itself felt in New Zealand, and abased everyone who differed from him on the point. Dealing with tho tightness of money Sir Joseph touched what will undoubtedly prove a popular chord when by inference he blamed tho banks. Most people are usually more ready to blame others than themselves when misfortunes overtake them; and thousands in the community have had hard things to say of tho banks for their refusal to give greater assistance during the monetary stringency of the past twelve months. Ae we have pointed out on various occasions, tho banks have really lent well up to what could .be expected under the circumstances, hut even so the broad fact remains that their inability or disinclination to do more than they have done has very seriously crippled the commercial progress of the country.. This is a fact that lias been recognised by the Premier; and he indicates his intention to bring- before Parliament next session the advisableness of amending the banking laws by facilitating, the establishment of additional banks in the Dominion, or by effecting improvement Iu some other way. AYe had hoped to have had some definite pronouncement from Sir Joseph in regard to the vital Question of national defence, hut he still- shirks tho issue. .Wo are gravely, told that the matter of defence “will 'have to bo gone into carefully,” which

is of course tho eternal refuge of tho politician who wishes to do nothing. The Minister assures us that our vol-. unteer force system is improving, and attempts to excite our vanity by stating that we have moro volunteers in proportion to population than others country in the world. Much good that’vainglorious assertion would do us if a few hostile cruisers were to shell Wellington and take possession of tho capital. Our little army of 16,000 or 17,000 men, with their present poor equipment, would avail us little in the last resort, namely, of invasion by a foreign foe. However, tho question is bound to come up in Parliament; and it is moro than likely that Sir Joseph will find himself forced to take up a scheme of compulsory training. Tlio Premier gave a resume of the proposed legislation for next session ; and. -e are g’ad to have his assurance that quality rather than quantity is to be aimed at. Amongst the measures referred to, by far the most important is the National Annuities Bill, and if the new Parliament does nothing mere than pass into law a really practical measure of national insurance it will have fully justified its labors.