MURUPARA LOAN
Sir,—So we New Zealanders are to ‘work harder” to pay interest on big loans from Britain and now America, so that the money-lenders may sit back while their wages (interest) roll in unearned. The Murupara scheme could easily have been beneficially financed here in New Zealand with created money, which is probably how the loans from other countries are raised. Our present Government has an abject fear of using created credit for the benefit of New Zealanders. The Murupara. scheme would in time have paid for itself. The Labour Government paid back millions of pounds of principal on overseas loans, while any money needed for domestic or war purposes was raised, internally, giving our own people the interest. It appears to me that this Government is deliberately placing New Zealand under the thumbs of overseas financiers, so that any change of government will be financially handcuffed and throttled Yours, etc., CHARITY STARTS AT HOME. February 17, 1954.
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Bibliographic details
Press, Volume XC, Issue 27277, 18 February 1954, Page 7
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159MURUPARA LOAN Press, Volume XC, Issue 27277, 18 February 1954, Page 7
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