17 OCTOBER 1931, Page 34


Indeed,._there is little doubt that the situation at the Present moment would be even worse than it is but for the, fact that the National Government during its brief period of office gave practical evidence of its deter- mination to pursue a programme of economy, and .on paper, at all events, Mr. 'Snowden produced a balanced Budget involving, of course, a further severe strain upon the taxpayer, a strain which has still to be felt in-the coming year. It is a prospective strain, however, relieved in some measure by the belief ihat in time the deter.: mination to effect economies in the National Expenditure will bring about a better state of things.