HON. W. NASH

Hokitika Guardian, 20 September 1938, Page 4

HON. W. NASH

OPENS HIS CAMPAIGN. < (Per PrtoS Association—Copyright^ WELLINGTON,, Sep,/20 Opening his. election campaign' in his own constituency ih Lower, Hutt lasq night, the Minister for Finance, Hon. W.. Nash, speaking on currency aha credit, said that money was/ no use whatever unjess there were, goods .’behind it, but money could stimulate th|L production of goods, and that; was DA ing done in the Dominion to-day the way in which the Government was using the money system. All fno money needed was being providedby.. , the Government through the Reserve Bank.

‘•You can go. on doing that as long as you have the goods to back it up,” continued the Minister. “Not a penny we have spent on,.housing in ,the. Dominion came from anywhere else than the Reserve Bank. Jf the workers in . their turn go on producing goods to back the money up we can go on, but if they do not produce the.goods then the whole.;thing will collapse.” Mr Nash dealt at length with income if. tax, and- said 'that the important fea- .. tore was riot* what, amount of a man’s*, income was takcri for taxation, but how much of his income was left for • him. There was no harshness associated with'-income tax in general.