HARMFUL RESULTS.
TOO MUCH SPENDING
MORATORIU .\[ EXTENSIONS. DUNEDIN, This Day. Tn his presidential address to tho ■Chamber of Commerce Mr Peter Barr, in commending the Government's moratorium proposals, stated that it was indisputable that the moratorium had led in many cases to the earnings of farmers during the prosperous years being applied to any other puipose than paying off their indebtedness and thereby improving their position, so to that extent, it had done them more harm than good.
Commenting on Mr Holland's amendment, for the State to take over mortgages not mutually arranged, Mr Barr asked why should the State take over this burden and not the liabilities of a business house which had overborrowed on" debentures or over-import-ed merchandise. Why should the country bo saddled with still heavier taxation on loans up to £(5,000,000 to relieve eithgr lenders or borrower? who had made bad bargains? When Parlmment abolished the difference in tax charged on interest received from mortgages and from rtcoentures and ended the moratorium, the position of the farmer would be distinctly better and more hopeful. —Press Assn.
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Bibliographic details
Northern Advocate, 22 August 1924, Page 5
Word Count
180HARMFUL RESULTS. Northern Advocate, 22 August 1924, Page 5
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