Earthquake Debts

Hawke's Bay Tribune, Volume XXIV, Issue 231, 12 September 1934, Page 8

Earthquake Debts

(To the Editor.)

sir,—lt is unfortunate that my letter regarding rehabilitation loans should have created the impression that I wished to see citizens crushed by the burden of earthquake debts. All I wished to do was to point out that it was not right to class all the people of Hawke's Bay as being on the edge of bankruptcy unless they were granted relief from earthquake debts. 1 also could not help remarking upon the fact that those businesses, particularly in Napier, that now have better premises than they did before, have advantages over others in the sama lines who weighed their liabilities beiore taking on big mortgages. Nearly everyone in Hawke’s Bay suffe red through the earthquake in a greater or lesser degree and it is absurd to think that any Government, even if money were no consideration could see that each sufferer was rehabilitated according to his losses. Loan money was made available and businesses restored. It therefore becomes a matter of individual responsibility. The question now concerns the future and j am afraid that a general policy of begging for debt release will be damaging W the whole district. All losses suffered were actually individual and the borrowing was individual. Therefore repayment and readjustment must be an individual responsibility. Why should a wealthy institution liave its debt written down in the same manner as, say, a working bootmaker ? Mr Barnard’s Earthquake Protection Bill provides for a levy on insurance premiums to build up a fund for meeting future disasters. Until this principle is accepted by the whole Dominion it is futile to argue that sufferers from a. past disaster have any right to transfer their burdens to the general taxpayer. We have the right to ask for reasonable consideration and to be allowed time in which to make good. Those who are triers and have a chance of winning through should not fear the consequences. —Yours, etc., “FAIR DEAL.” Hastings, Sept. 11. 1934.