PROPOSED LOAN.

Ashburton Guardian, Volume 53, Issue 202, 8 June 1933, Page 6

PROPOSED LOAN.

COUNTY CHAIRMAN’S VIEW.

BORROWING O DOUBTFUL CURE,

When approached by a representative of the “Guardian” in connection with the loan of £10,000,000 to relieve the economic conditions, proposed by the unofficial committee of Auckland citizens Avhich met the Acting-i J rime Minister (tlie lit. Hon J. G. Coates) on Tuesday, the chairman ot the Ashburton County Council (-Mr J. Moore) said:

“it Avouid appear that borroAved money has been responsible for a great deal of Ncav Zealand’s troubles, and further borroAving. seems, a doubtful cure. At the best it is only an artificial stimulant, Avith the subsequent reaction.

“With the recent firming of primary prices, 1 feel confident that a further 15 per cent, rise Avouid soon have a very noticeable effect on the unemployment question. In all directions signs of deterioration and neglect are to be seen, repairs and maintenance being held up by farmers, through lack of money to do the necessary work. If by an immediate return to better prices the 3000 ratepayers in the Ashburton County could spend an aA r erage of £lO on labour and material, that £30,000, Avitli the added stimulation of trade in the Borough, Avouid go a long Avay to overcome our difficulties.

“Although this route may seem longer and slower than avo, would like, it is safer and surer than trying to get returns from borroAved. money.

“While I realise that I am in no position to, judge, I feel optimistio enough, to hope that this: present winter Avill see this County through the Avorst of its trials, and that the incoming season will'see better prices and better times.”