WAR LOANS.

Evening Star, Issue 18048, 16 August 1922, Page 2

WAR LOANS.

TO THE EDITOR. Sir,—ln reading Mr MacManus’s reply in Friday’s 1 Star" I can only come to the conclusion that he thinks anyone who lends money to a Government is a parasite, and should be blotted off the face of the earth. Docs he also think anyone lending his savings to a public company or the City Council a parasite? lam afraid Mr MacMan us is an idealist, and although perhaps well meaning, his views, if carried out, would soon create unemployment. In looking hack to the days of Mr Seddon and Sir J, G. Ward, when practical things were done for the working class, there wins no talk of confiscating Government loans or repudiating contracts entered into ; but these two were financiers, and knew too much to bring discredit upon the colony by such wild talk. lam quite sure that if either the Liberal or Rolorm Party gets into power there will not be the terrible times Mr MacManus speaks about. We have before us the example of the Labor Government in New South Wales, who nearly brought disaster to that colony; but, fortunately for themselves, the workers woke up and turned them out. Personally, I think that the day will eventually come when a Labor Government will bo in power, but not until they cut out -wild-oat schemes that frighten the small holders of property, including war bonds and Savings Bank deposits, over to the Opposition.—l am, etc., Wage Earner. August 15. [Corrcsppndence concluded.—Ed. E.S.]