INVESTMENTS SAFE

Evening Star, Issue 23725, 5 November 1940, Page 8

INVESTMENTS SAFE

SOME FOLK “ WORKING UP SCARE " PRIME MINISTER'S ASSURANCE [Per United Pkess Association.] WELLINGTON, November 5. Further assurance that the Government would not take advantage of the exceptional powers invested in the Ministry by war emergency regulations to further any of its purely party proposals, and also that the regulations would be repealed as soon as practicable after the war, was given by Mr Fraser in reply to a communication from Air Spender, president of the Auckland Chamber of Commerce, regarding a statement attributed to Air Webb on the West Coast recently. In his letter Air Spender drew particular attention to the reported reference to the end of the capitalist regime, and asked Air Fraser whether Air Webb’s views represented the official war policy of the Government. In addition to the assistance given, Mr Fraser said that in his opinion the only really serious aspect of the whole matter was the attempt made in some quarters to work up a scare in regard to the security of investments in the war loans and savings scheme. It was imperative at this critical period that the financial and credit structure of the Dominion should not be impaired or its stability questioned. It was not only the administration of the Government that was involved; it was the good name and reputation of New Zealand in the fundamental matter of honouring all obligations when they fall due. No Government has. ever been more meticulously rigorous in safeguarding the honour of New Zealand in this respect, and incidentally the savings of the people, than the Labour Government.