LABOUR’S PROPOSALS

Dominion, Volume 26, Issue 290, 2 September 1933, Page 8

LABOUR’S PROPOSALS

Reply from Mr. Ransom POLICY OF BORROWING By Telegraph.—Press Association. Christchurch, September 1. The Hon. E. A. Ransom addressed an audience of about 200 in Sumner tonight, supporting the candidature for Lyttelton of Mr. Freeman (Coalition). Mr. Ransom was accorded a quiet hearing in an orderly meeting. Replying to Mr. Holland, who had stated that he had advocated for New Zealand a plan similar to the Roosevelt policy, Mr. Ransom stated that New Zealand and the United States could not be compared, as one was a primary-producing country, exporting 40 per cent of its production, while the United States of America was a selfcontained country, exporting only 6 per cent. Mr. Holland advocated placing workers on economic undertakings on standard wages, but work was not economic unless it would provide interest on the capital outlay. He proposed to borrow large sums to build more railways and highways, and settle large areas of land, but he had not yet disclosed how the interest was to be paid. Mr. Ransom said Mr. Holland had suggested that because we had prosperity during the war we could have it again by his policy of huge expend! ture and high wages, but at the same time he referred to the obvious fact that unemployment was an aftermath of the Great War. Apparently his aim was to build up a false prosperity such as we had during the war, so that the country would experience another aftermath.