THE MORASS.

Auckland Star, Volume LXX, Issue 193, 17 August 1939, Page 10

THE MORASS.

THROWING BLAME ON LONDON.

(To the Editor.)

Talk regarding the menace of the money power is perhaps clever political propaganda, but it will not delude thinking people. One speaker is delil>erately trying to blame London for the financial morass that the Labour Government has got us into. The real troth of the matter in that had the Labour Govern- • ment not been so recklessly extravagant it would not have had to go to London to borrow money. And as for London dictating our internal policy, that is so much nonsense. All we are asked to do » to be a bit cautious, to take it a bit easy—merely the good, sound advice of a wise father to his headstrong spendthrift son, so that we can get ourselves out of the financial jam we are in by ourselves, with a bit of prudent management in the future. I remember Mr. Savage saying before he got into office that he would never borrow from London, that if lie wanted five pounds he would "borrow it in New Zealand and owe it to himself. And now a record spending Budget. Xot the slightest heed paid to London advice after we have got our nine millions. The speaker already referred to thinks to cover up the inevitable day of reckoning of every spendthrift by blaming the money power when it is the Government's I own fault entirely that it has had to apply to London for loans to get itself out of a financial jam of its own making. It is also rather significant to hear the methods of Russia and Germany advocated in preference to British methods, but that is what one would expect. Reasonable people will draw their own conclusions. HARD FACTS.