TAXATION IN WAR BONDS

Horowhenua Chronicle, 27 November 1929, Page 8

TAXATION IN WAR BONDS

SUCRUTARY FOll WAR •RA ISKS S 1 ’ iaCULA Ti ON

‘NO MOEAL EIGHT TO INTEEEST'

Received Tuesday, 8.15 p.m. LONDON, Nov. 25

The in’wsjuapiTs give prominence to a parage in Air 'I 1 . Shaw’s speech on unemployment insurance, in which he stated, “We arojiow paying £100,000,000 a year too much to people who have not the smallest moral right to it. During the war, money was lent to the Government at inflated rates. W e adopted a post-war policy of deflation and are now paying interest on deflated money. That fact has got to be faced before this country can get on its feet again. ’ ’ There is much comment on' the speech in the lobbies and speculations whether Mr Shaw spoke with Mr Snowden's assent and whether the speech signided legislation at the expense of holders oi war stock.