THAT BIG LOAN
FARMERS' UNION ATTITUDE
NO FURTHER BORROWING
(By Telegraph.—Press Association.) AUCKLAND, This Day. The executive of the Auckland Farmers' Union today questioned the action of the president (Mr. H. O. Mellsop) in associating himself with the Mayor's recent deputation to the Et. Hon. J. G. Coates, when presenting the £10,000,000 loan scheme. After discussion they approved his action but expressed opposition to any further borrowing by New Zealand. Mr. Mellsop explained that he had joined the deputation because the Mayor had said his main object was to get something done. Ho also said that one or two of the principles of _ the proposals were in line with the union's beliefs. He added that'he supported the idea of finance repayment by means of costless credit when a currency board had been established. Members generally were strongly against any further borrowing. One said that present problems would not be solved unless the price level for exports were raised and costs reduced by 50 per cent.
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Bibliographic details
Evening Post, Volume CCX, Issue 145, 22 June 1933, Page 12
Word Count
165THAT BIG LOAN Evening Post, Volume CCX, Issue 145, 22 June 1933, Page 12
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