CAMPAIGN NOTES

Press, Volume LXXI, Issue 21639, 25 November 1935, Page 12

CAMPAIGN NOTES

When to Borrow The advantages of borrowing in times of adversity were mentioned by Mr S G. Holland, Government candidate for Christchurch North, in an address on Saturday evening. It was possible at such a time to raise loans at low rates of interest and money was available for development work when there was the greatest need for the Government to absorb the surplus man power of the country, which was the duty of a government both in tunes of adversity - and prosperity. By borrowing in times of prosperity, when interest rates were high, said Mr Holland, a greater burden in the way of interest charges was left for future generations. Moreover, when the Government entered into competition with private enterprise for the available labour of the country the effect was to raise wages to an Uneconomic level, which quickly led to unpleasant repercussions and formed the nucleus of another depression. Mr Holland had previously mentioned that the national debt had been reduced during the. depression, but added that for the reasons mentioned the generally accepted views on borrowing might have to be revised. However, he was speaking in retrospect and it was easy to be wise after the event

Labour and Money Possible dangers to the workers themselves in the monetary policy of the Labour party were emphasised by Mr L. C. Walker, Independent candidate for Avon, in an address to electors at the corner of Linwood avenue and Worcester street on Saturday evening. The Labour proposal to provide adequate credit for expenditure on guaranteed prices and other schemes, by control of the existing banking system, might lead to the worst forms of currency inflation, Mr Walker said. Commodity prices would rise, wages would lag behind, and in the long run the people hardest hit would be the workers. Mr Walker outlined a scheme of currency • reform, under which the supply of currency would be governed by a "mechanical" currency system controlled by the State. The banks would no longer be responsible for currency, but would be similar to the German "investment banks," existing to provide capital for the building up of industry. There would be no issue of currency to make up deficiencies of revenue. The New Zealand Legion The Government candidate lor Christchurch North, Mr S. G. Holland. was asked on Saturday evening how he reconciled his present support of the Government party with his attitude as a former member of the New Zealand Legion, a body with the announced intention of abolishing party government. Mr Holland explained that he had joined the legion because he thought it was going to do something to improve conditions in New Zealand. However, after he had expressed his views on how that should be done he had never been asked to another meeting of the legion. In reply to an interjection Mr Holland asserted that when he addressed a meeting in Cheviot in support of the legion the movement was only in its infancy. A voice: Where is it now? Mr Holland: Search me. I have not got it.

The Gold Tax "I think the gold tax should be the first tax to be taken off," said the Government candidate for Christchurch North, Mr S. G. Holland, on Saturday evening. Mr Holland was replying to a question and said he considered the tax a vicious one because it was a levy on capital. He definitely did not like it. There was no need for the Government to lose any revenue by abolishing the present tax on gold. What was wanted was a more scientific method of taxing the gold companies. In reply to another question, Mr Holland said the sales tax was necessary to balance the budget, but he considered it one of the most objectionable forms of taxation possible to think of. After the gold tax, the sales tax should be the next to be taken off.

KAIAPOI Mr R. W. Hawke, National candidate, addressed two meetings on Saturday evening, at Coutts Island School rnd at Belfast. At Coutts Island he received a unanimous vote of thanks and confidence, moved by Mr C. Inwood and seconded by Mr A. Banks. Mr C. Ker.ipthorne presided at the Belfast meeting, the candidate was accorded a hearty vote of thanks, moved by Mr E. Rudkin, and seconded by Mrs E. Harris. Mr C. Price, a member of the Waimairi County Council, occupied the chair. On Friday night, Mr A. A. McLachlan, National Liberal candidate, addressed a meeting of more than 100 at Templeton Oddfellows' Hall. Mr R. Johnston presided, and a hearty vote of thanks moved by Mr F. Kibblewhite, and seconded by Mr P. §. Ryan, was carried unanimously and with acclamation. On Saturday night Mr McLachlan addressed two crowded meetings at Papanui. Mr G. Shipley presided at one and Mr P. Holmes at the other. At each meeting Mr McLachlan received a hearty vote of thanks and confidence.