THE COMING ELECTION.

Gisborne Times, Volume LXVIII, Issue 10724, 23 October 1928, Page 4

THE COMING ELECTION.

(To The Editor). Sir, —After reading Mr, Clayton s speeches, I should have thought that from his experience as a land agent and sharebroker, one of the first things I would have expected him to say, was, “1 am strongly opposed to Sir Joseph Ward’s proposal to raise £70,000,000, which is to be spent in 10 years.” But instead Mi doing this, he supports this huge proposal. Considering that New Zealand is only a very small country, with a million and inhabitants, and winners, carrying a National debt or £251,000,000, he is willing to saddle it with another £70,000,(XH) for priority to pay. Sir . Joseph proposes to lend sixty million of this huge loan to impecunious farmers, - who want financing. But- what security is he going to get for the money lent f He and Mr. Clayton must know that most farmers have raised all the money they can ion .the security of their lands, and stock in many cases also, and would have no margin of security to offer for further advances. Take our own district for instance. Mr. Clayton must know of a great many cases where the farmer has, through, the-force, or circumstances, had to abandon Bis form, many of such farms having fallen into the hands of the banks and mercantile house'' and the former owners turned out. Sir. Joseph says “1 am of the opinion that the country requires sixty millions of capital to lend on land securities during the next 8 or ten years.” Does he propose to pay off the present mortgages or the banks who . have _ advanced them money or to lend it on second mortgage. I don’t think for a moment he would consider' second mortgages, and. it seems to me, there would not be much else left. He proposes to lend the money. at 4J per cent, with 1 per cent sinking fund. That would mean with other expenses added 6 per cent. There is nothing to be gained by such a proposal for. at present, any farmer with good security can get the money at 6 ner cent, from the Public Trustee. 'Sir Joseph Ward says this monev can He got without one penny additional taxation.” What ridiculous nonsense to make such an assertion! Is not tliG interest cliftrged the borrower additional taxation!' \\ e want to try and get the national debt reduced, not increased, or handed down to posterity to pay. I am surprised that Mr. Clayton should have allowed himself to be strung on by a few disgrunted Reformers who have a personal spite against the sitting member and have deserted the Reform partv. Being a deserter himself. he cannot very reproach the others. The L niied party wnl get the shock of their liv es when the numbers go up. It will be a close race between them and Labor, for who will be official Opposition. NVther' side will polk twenty, so that Mr. Coates will be quite safe for ttie next three rears. • Although Mr. Lysnar may not be all that we would desire, we must admit that he has done more for this district than any previous member. Mr. Clayton predicts either him or Mr Lysnar first, and Mr. Coleman last. When the numbers go' up, I predict it will be Lysnar first, Coleman second, and Clayton, also ran.—l am, yours etC “ REFORMER. .’

(To The Editor). Sir, —1 attended 'the meeting at the Makaraka-Matawhero Hall when Mr Clayton fired the first shot m the political campaign. Imust state that I was very disappointed in Ins address, expecting better things from a man whom I had heard was a very strong platform man. I know for a" fact that most of Ins audience went home with a feeling of having Keen cheated. His version as to! why • he left the Reform League three years ago was all very well, but was it quite true? Mr. Lysnar will, no doubt, tell tho public the reason why lie severed liis Connection with it and it is going to do Mr. Clayton a-lot of harm. His amusing attack on Mr. Coates was listened to very . attentively. That much can be said of a very foolish charge. _ The . railway question was handled in a very clever manner, much being said and old times gone over, without the passing of any opinion on the present- question. Now, have the United Party a policy ? All we know is that, in ten years, we will get . a loan of < 0 millions and, when it comes to that, anv .party desiring to do so could easily raise a like sum iii the given time. Sir Joseph Ward is very anxious to please the farmers, workers, and the general public, as can .be seen from the distribution or that loan, vote catching proposal, Mr. Clayton plainly showed at this meeting' that he ivas not yet a his party’s policy. I ask 1 £ i-a? ■«: aft s a toTnit 'criers t this- That Mr. Clayton has felt the public pulse and is playing to the gallery m • stage-tragedqvn Sthml of address. Mr Clayton’s nnlifics have been inconsistent and he has heen^unwillingly; bundled into this campaign at the . last moment. How can this man have his country’s interests at