DIR. JACK JONES’S ADDRESS.

King Country Chronicle, Volume XXXI, Issue 4952, 6 February 1937, Page 5

DIR. JACK JONES’S ADDRESS.

(To the Editor). Sir, —The first thing to note is the fact that Mr. Jones’s party took vigorous exception to the policy of its predecessors as to disloyalty in the Civil Service, yet Mr. Jones asserts that those civil servants who are disloyal to his party will be “severely dealt with.” Somewhat inconsistent! Mr. Jones was far from the truth when he said that the soldiers’ pensions were cut in order to pay interest to the banks. The truth is that the late Government reduced expenditure all round in order to be able to keep the credit of the country good, and to avoid repudiation of the public debt. This debt is not due to the banks, but to hundreds of thousands of small investors. Mr. Jones seems to believe that our loans come from the banks only, and this shows his ignorance of facts. But even if the banks did lend the bulk of the loans (which they did not), they did so on behalf of their shareholders, who are a number of small investors. Take the Savings Bank with an average of some £SO; it has lent the Government over £40,000,000. Does Mr. Jones suggest that the interest payable to Savings Bank depositors should have been repudiated rather than reducing expenditure? However, his views on banking are so fantastic that it is obvious that he does not know the facts. I note that he prefers to use that word of abuse, “Tories,” when referring to those who do not agree with him. There isn’t a Tory in New Zealand. As to his party having lifted New Zealand out of the “slough of poverty,” that is pure bunkum. Did his party bring about the rise in wool or other produce? Did it arrange for the passing of the depression in Britain and elsewhere? Of course, it did not! Yet those two factors have been responsible for our better times. Furthermore, he ignores the fact that the late Government not only reduced the public debt, but left a balanced Budget which gave the present Government a good start. This Government came in with the finances in a good condition, with rising prices for our exports and everything in their favour yet Mr. Jones puts it all down to his party. Finally, he forgot to tell his meeting that whereas Mr. Savage said that taxation had gone beyond all reason, he at once increased it when he came into olfice. His income tax has hit the small man far harder than the big capitalists. I, for instance, on an income of under £SOO have had my income tax trebled, whereas some of my friends with three times that income have only gone up 5 per ceijt.!—l am, etc., AJAX.