“THOROUGH-GOING PROGRAMME”

Press, Volume LXXII, Issue 21797, 1 June 1936, Page 5

“THOROUGH-GOING PROGRAMME”

GOVERNMENT AND SOCIALISM

MR COATES EMPHASISES FOUR POINTS (PUISB ABSOCUTIO* TILIOHAM.) AUCKLAND, May 30. “I think you have a very thoroughgoing socialistic programme,” said the Rt. Hon. J. G. Coates at a complimentary gathering tendered to Mr J. Massey, formerly member for Franklin, at Waiuku last night. Mr Coates emphasised four points; Q) The socialisation of credit; (2) control of the country’s production: (3) the control of industry and centralised organisation dominated by trades union secretaries; and (4) unlimited credit. .He believed that the trend in politics had been brought about by very clever propaganda, which convinced the people that there was starvation in this land of plenty instead of New Zealand being the happiest country in the world. There was everything to be gained by giving the people freedom to develop their own industries. The alternative was socialism, with every individual giving his services to the State. “Our people have shown themselves to be attracted by untried theories.” he said. Mr Coates estimated that there was £136,000,000 available for the Government to call upon from the reserves of large financial institutions. The result must be a curtailment of credit. “This country, with its tremendous exports and small population, cannot artificially raise prices very much above world levels.” declared Mr Coates.

Referring to compulsory unionism, Mr Coates said that those who would benefit most in the times of rising prices would be the employers.