RURAL CREDITS SCHEME.

Auckland Star, Volume LVIII, Issue 223, 21 September 1927, Page 14

RURAL CREDITS SCHEME.

OPPOSITION OP rOBMtWS.

i : "RABBITS IN A TRAP."

MMtrong protest against the Minuter Of ?inance'a statement that the success- !«■! issue -of rural Credit bonds would provide more money lor -State advances for wdrkers' homes, was contained In a* Cambridge branch of the Union, received by the Kxeeuthw last evening. The declared that this was turning ■JW' aon-FodactiTe channels at ft tfaM ,Vm it wa» urgently needed 'rtHWheriti.i'and that the government's policy was helpingto maintain the presettfc ictitfem Uod value#. - , stated that owing to M» pfeeent high- buildinfc values the aot.fconomioal, and that ftuaadjr many of'these worker#' homes had fftlle* back am to-the Government, a, fctoditiori .of affair's which had' consideribly aurpr i*ed MrDownie Stewart. Captain KnahwoHh declared that the lepth of Mr. Downie Stewart's schemes indofthe propaganda, was. -evented in the faet that theyhad taken 10 action when the bnnttereojaitjy raised heir deposit rates. Be maintained that is soon aa the Government breed by placet!*" nral credits bonds dt, the market at a, Ughtljr more attractive interest than he hankt were paying, the latter had aised their deposit rates to. the satae evel, ana this at a time when bank *tes throughout the world showed a *n»g falling tendency | "It ie adepbercan expect Only •JMve-omnHjr from the Government and, powers: behind it." When asked to to that effect, he «• like rabbits in a trap. tr,pp "'