WHAT IS ALTERNATIVE?
LOAN NEGOTIATION TERMS. (By Telegraph.—Parliamentary Reporter.) WELLINGTON", this day. What is the alternative? This question was asked in the House of Representatives last night by Mr. W. J. Lyon (Government, Waitemata) when he declared that the terms imposed in respect to the recent loan negotiations in London could not be fulfilled if applied to the £108,000,000 falling due within the next seven years.
Mr. Lyon said he wanted to know whether the people were to have their right to select a Government abrogated by financial interests, who would make it impossible for New Zealand to meet her commitments.
"Supposing America came along with the same demand, what position would Great Britain he in?" he asked. If interests overseas were allowed to destroy New Zealand's capacity to pay democracy would disappear. The Opposition talked about dictators and totalitarian States, but there was no more powerful dictator than finance. If the people were determined that democracy meant something to New Zealand they would have to be prepared to stand behind the Government when it attempted to make equitable payments and see that it was not dictated to by financial interests.
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Auckland Star, Volume LXX, Issue 193, 17 August 1939, Page 5
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191WHAT IS ALTERNATIVE? Auckland Star, Volume LXX, Issue 193, 17 August 1939, Page 5
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