17. A nation such as ours can stand being told the truth 
and can be depended on to follow a clear call to their in= 
telligence and energy to meet a national crisis. That a 
crisis exists cannot be denied. 
18. Economy in Government, economy in municipal 
and local administration is urgently necessary. 
i9. Industry as the patient beast of burden is on the 
verge of collapse. The responsibility for the continuance of 
the present burdens is grave indeed. 
20. The Engineering Industry is a finishing industry. 
In the purchase of its materials, it has to carry burdens 
accumulated in every branch of industry contributing to the 
supply of these materials—coal, iron and steel, transport, 
etc.—as to wages, local rating and national taxation. 
21. The Industry is therefore under a twofold disability. 
[t has to look after its own economy and it has to accept all 
the ‘* pre-charges’ created for it by the earlier stages of 
manufacture even on an uneconomic basis. 
22. All industries are interrelated and it is the duty of 
all to contribute to the solution of present difficulties. 
23. Particularly is this so in the case of the sheltered or 
non-exporting industries, municipal and other public bodies. 
These, being freed from the burden of foreign competition or 
being in the position of spending public monies, are not 
conscious of the cares of economic production and pay little 
heed to the sources from which the money they spend must 
be found. They create for competitive industry burdens 
which can only be justified by the presumption that they 
sccupy a position entitling them to preferential treatment 
at the hands of the nation as a whole. 
24. The whole nation is living beyond its means, The 
standard and mode of living which have grown up in recent 
years have outrun the national income and will require to be 
brought back to their proper relation. 
25. If any change in the present fiscal system should 
result in an improvement in trade and thereby create a new 
source of revenue the amount so accruing to the National 
Treasury should not be regarded as available for further 
extravagances, but used for the liquidation of existing 
~ommitments.