20 FEBRUARY 1932, Page 36

ECONOMY.

There is just one other point in the address of Sir David Milne-Watson to which I must make a passing reference. Commenting upon the financial crisis, Sir David emphasized the supreme necessity for economy in the National Expenditure. What is needed, he said, is economy in public and Government expenditure, "not so much in expenditure by individuals. If trade and commerce are to be assisted to the full, it will only be through wise expenditure by industries and individuals and not by the unrestricted and lavish expenditure indulged in by State Departments and municipal bodies. Judging by the growth of public expenditure, it would seem that we as a country ate spending too much on being governed."