FINANICAL HELP FROM BRITAIN

Press, Volume LXXV, Issue 22767, 20 July 1939, Page 15

FINANICAL HELP FROM BRITAIN

lo tee editor or the peess. Sir.—xt i s true that in the past 1 lave condemned the reckless waste of noney bv the National Government. ? f, espec t the present Government Uy .A uilt y- As J - HiH is quite to believe, despite anything ,foy° ne else may say to the s -F"F?HS?that assistance rendered to States to def'nd themselves, F®! I ®*. aggression, is for the purra Pi ne and murder, it would Vr,,V* es s pursue the matter further. *,?f+^J :o f,F esponcien t denies that he adah were in a “financial N° other logical interpreta- . coul d be placed upon his state- ? ’ ® n( l hi® disingenuous attempt to “ lmse lf from the dilemma in ymcn his unexpected candour placed fj.™ Permit me to quote • He says, “little, or none ;i+^ n * Ce ls , avai lable to a Labour Minta enable his Government to lift e ?' land out of the ‘financial aatemoWi 6 -’-- To suggest that that Ru™? en Vi s -hi the past tense is ridiP/P'F 5 - Moreover, he contradicts him+v,^? en ■ says “the financial morass «Lr> • . Accumulation of debt.” etc., as v^iiL n t he present tense. Your corr,Pondent’s, statement tliat Mr Nash n “ on fo r the purpose of renay°r converting the £17.000,000 is ply half the truth. His real problem credits or loans, without L n “i“ this Dominion will be unable p pay for essential imports during the } e It is significant that !• studiously avoids any reference ? th® £47.000.000 left by the previous ’ 1° meet our debts. iJnJL Hul c laims that the Labour Govp^^^as„balanced its budget. That 'orSSno^ al l y deny - How can your |Orrespondent reconcile his claim with admission by the Hon. W. Nash b , e a deflcit of about 1C2,000,000 in the butter account, and a-

similar deficit in the Social Security Fund? Mr Hill reminds us that previous governments have had recourse to overseas loans. Can he deny that Mr Nash is having an extremely worrying time overseas for the same purpose, in addition to having incurred a £24,000,000 liability to the Reserve Bank?— Yours, etc., R. B. DALLEY. July 18, 1939.