VOLUNTARY LOAN?

Auckland Star, Volume LXII, Issue 166, 16 July 1931, Page 11

VOLUNTARY LOAN?

TO HELP NEW ZEALAND.

MB. ENDEAN'S suggestion.

CRITICISM OF GOVERNMENT,

(By Telegraph. —Parliamentary Reporter.)

WELLINGTON, this day.

A proposal to raise a voluntary loan jf e w Zealand was supported by Mr. P. Endean Parnell), in the course of his Address-in-Reply speech in the House last night.

In dealing with the unemployment problem, lie said the Government should fl rs t ascertain whether there were any malingerers in the ranks, and should trjvean indication of how much had been spent on unemployment to date, including what had been expended on projects that would bring some return to the country. Then there was need of a stable Government, so that people would be induced to subscribe to' a voluntary loan, at a low rate of interest. The appeal must be made to the people, and action taken along the lines of what had been done in Australia, where people had come to light under more adverse conditions than prevailed in the Dominion. If that were not done, Xew Zealand would have great difficulty with her finance in future. The Government could not expect to go to London and raise a £5,000,000 loan when investors realised that a portion would be spent on a doubtful railway project in the South Island. }Ir. Endean considered the Government could assist the present situation by appointing two economists, two bankers and a member of the Government to bring down a report that would be some guide to the House in its deliberations on the position of the Dominion. "Two Great Dangers." Referring to world conditions, Mr. Endean said the United States and Russia were the two great dangers. America held the key to the financial happiness of the world, and if she took certain action she might succeed in restoring the world's financial equilibrium. Russia was aiming at the organisation of an economic war. Russia was a country without a soul and without religion, yet members in the House had been heard to hold up Russia as a pattern. 'iWhy," said Mr. Endean, "the terrorism recently exercised on the West Coast would not be tolerated in Russia, where the men would have been put against a wall and shot at dawn." In his opinion the whole secret of the British decline could be traced to the Labour party throughout the world.

Mr. J. O'Brien (Labour, Westland): Are you loyal to the Government of Great Britain?

Mr. Endeah: They won't be there 'long. That is one of the rays of hope at present. There is every indication that the Labour Government has not done its job, and that the British people realise that they must have a sound, sensible Government. Mr. Forbes' Work in London. Mr. Endean criticised the attitude adopted by Mr. Forbes while in England. Mr. Foi'b" 1 ' had declared that we wanted nothing u the Okl Country, instead of reminding her that w© were a junior partner in the Empire,; that we • had fought" for her in the war, and that we expected her to reduce her tariff wall to us. Instead of doing that, he had said something about "passing the ball,'' and then had come back to New Zealand without the ball. Instead of returning via Canada and endeavouring to make a favourable trade agreement with that Dominion, Mr. Forbes had chosen to come back by a route he had not seen before—via the Suez Canal.