“THE WRECKERS.”

Gisborne Times, Volume LXVIII, Issue 10742, 13 November 1928, Page 5

“THE WRECKERS.”

RON DOWNIE STEWART ON UNITED PARTY. SIR J. WARD TIES HIMSELF,, TO LABOR CHARIOT WHEELS. EFFECTIVE REPLY TO SffG LOAN SCHEME. , , OVERWHELMING VOTE OF CONFIDENCE IN. GOVERNMENT. (Press Association.) INVERCARGILL, Nov. 12. The Miiiister for Finance (Hon. W. Downie Stewart) addressed a large audience here this evening. Mr Stewart said that* so far, the most serious statement made by Sir Joseph Ward was his open declara-, tion that he would on a no-confidence motion ally himself with' the . Labor party to wreck the Government. His statement was almost more important. than his borrowing proposals, and, if.the electors had time to realise its fu.ll implication, the speaker doubted if a single United Party candidate would be returned to Parliament- It way , the first time in the history of New Zealand that any responsible third party leader had agreed to tie himself at the chariot wheels of Labor for the purpose of rejecting a government. It might be argued that the matter was of no importance—that not sufficient candidates would be returned to giye etfect.-to Sir Joseph’s purposes. But the fact that he would be willing to combine with the Labor Party was sufficient to condemn the whole United Party, except such members as had expressly stated that they would, in no case, vote with Labor, on a no-confidence motion moved by Labor. The Minister then dealt with Sir Joseph’s loan proposals, stating that neither in his original statement, nor in any of the revised statements, had Sir Joseph proved that his proposals would not cost the taxpayers a penny in either direct or indirect taxation; in fact, the opposite was only too obvious. The answer that Sir Joseph made to- all criticism was that he initiated and made a success of the State Advances Office, and, therefore, he would make a success of this new loan proposal. His (the Minister’s) reply was that the reason Sir Joseph had made a success of the State Advances Office was that lie never lent money through that office without a reasonable margin to cover expenses and show a small profit. The speaker’s main difference with Sir Joseph was that he obviously proposed to fend money at less than the cost and that the loss must be borne by the taxpayer. “if the electors wish to replace the present Government,”, said Mr Stewart, “they should replace it by a government that will borrow less than us, not by, a government that will borrow a great deal more and lend it out at less than cost price.” At the conclusion of his address, the Minister was accorded an ovation, the audience joining in the singing of “For He’s a. Jollv Good Fellow.” A vote of confidence in the Government was overwhelmingly carried.