"A PANIC MEASURE"
AUCKLAND'S CONSTERNA-
TION
(By Telegraph.—Press, Association.) AUCKLAND, This Day. Bepresentatives of local bodies and the commercial community received the exchange announcement with consternation, the latter describing it as a panic measure. .
, The Power Board and tho Transport Board, which are facing maturing loaus, will have to meet greatly increased expenditure in London. Mr. M. J. Savage, Deputy Leader of the Labour Party,1 said that the decision was disastrous. He suggested that the remainder of the Ministry might profitably follow Mr.. Stewart's lead. The development was evidence of the disintegration of the Coalition.
Criticising the decision, Mr. E. C. Creagh, president of the New Zealand Stock Exchange,.predicted extra taxation and increased cost of living. The Government had followed the advice of university professors in preference to that of sound business men and bankers.
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https://paperspast.natlib.govt.nz/newspapers/EP19330120.2.134
Bibliographic details
Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 9
Word Count
135"A PANIC MEASURE" Evening Post, Volume CXV, Issue 16, 20 January 1933, Page 9
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