It shows that the amount of money with which people gambled on the issue of horse-races at each of eleven of the more important meetings exceeded the amount that was similarly invested at the corresponding meeting last year.
The figures are impressive by reason of their magnitude.
It may be said, of course, that the fact that an aggregate of nearly £350,000 was passed through the totalisator at eleven meetings - two of which have yet to be concluded - points to the prosperous state of the community.
The argument is one of which it is impossible to ignore the validity.
While it may be regretted that the money with which race-goers speculate is not put to a more advantageous use it is unquestionable that the volume of ''investments'' at a race meeting does afford a guide to the financial condition of the people.
In ordinary times it would be a matter of satisfaction that so much spare cash is available as was devoted to gambling purposes during the past few days.
But these are not ordinary times.
Money is urgently required for the relief of the distress that follows in the wake of a great war.
A time such as this is not a time for foolish and wasteful expenditure or for frivolous speculation.
It is a time when such a reckless use of money as is involved in lavish gambling is distinctly to be deplored, since so much better use can be found for loose cash and spare sovereigns.
Apart from the consideration of the present it may be suggested to the public that the exercise of a little judicious foresight is desirable.
When the war is happily terminated the world will be required to pass through a period of great monetary stringency.
Necessarily the unexampled expenditure upon the war will materially curtail the spending power of the nations for a considerable period after peace has been restored.
The process of recuperation will in all likelihood be long and severe.
The anticipation of it renders it highly important that people should at the present juncture husband their resources.
This they can best do by the avoidance of indiscriminate expenditure upon pleasure and amusement.
People still seem to have plenty of money to spend in Dunedin, in spite of the war.
Shopkeepers anticipated a falling-off in the Christmas trade, for it was thought that the people would be rendered canny by the war, and would draw in their expenditure on presents and keep the money in their pockets for the purchase of necessities in possible times of stress.
These anticipations, dolorous as far as the tradesmen themselves were concerned, were not realised.
A number of tradesmen were spoken to by an Otago Daily Times representative and the opinion, practically unanimously expressed, was that there had been no falling off in business at Christmas time as compared with former Christmases, but that, on the contrary, there had been an increase in many cases. - ODT, 30.12.1914.
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