NEW ZEALAND'S IMPORTS.
ro THE EDITO3 Or THE MESS. Sir, —I feel that some exception should be taken to "XYZ's" assertion in "The Press" yesterday, that "the sum of £10,000,000 is taken by the wealthy investing class." When will the general borrowing public realise that the sums which it borrows are not confined to the "wealthy" class? A glance at the figures of insurance companies alone will allay this thought. Hundreds of mil- i lions of pounds of funds which these companies hold are made up by payments of millions of people in Great Britain, who are earning only a minimum wage. These funds are invested for the members' benefit, ip government loans and other secure investments which will earn a reasonable return. The report yesterday morning of the British Post Office holding £200,000,000 of Government securities, on account of 5,500,000 depositors, is further evidence. New Zealand must not hide its prodigality by blaming it to the "usury" of the wealthy class, who after all, form only a small section of the enormous capital available in Great Britain.—Yours, etc., GORDON MERRETT. July 27, 1933. i
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Press, Volume LXIX, Issue 20919, 28 July 1933, Page 17
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185NEW ZEALAND'S IMPORTS. Press, Volume LXIX, Issue 20919, 28 July 1933, Page 17
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