Readers Write

Northern Advocate, 17 November 1938, Page 6

Readers Write

In the interests of the governing powers, the Hon. W. E. Barnard is moved to make an appeal to New Zealanders’ loyalty and FLIGHT OF nationhood to constrain CAPITAL. citizens from sending money 'abroad for investment. No one will question the economic desirability of stimulating the stream of investment within our own shores, whether of, locally-earned or foreign money. Mr Barnard reminds us that the totalitarian States obtain cc-operation of the people by fear, but “we” appeal to the best that is in them.

When a man with a healthy appetite sits down to a good dinner there's no need to coax or cudgel him into doing his duty by the needs of his body Strictly speaking, we eat (or should) to keep the body supplied with power but what healthy diner thinks of his meals in that light. Naturally, we eat because we are hungry—we have an appetite for food. And, moreover, 4 if we haven’t an appetite, and have 4 to “push a bit down,” somehow, un-T der the doctor’s orders, there's some-| thing wrong with the works Norm-1 ally we ought to “get hungry.” | And when the trading conditions* of ia country become such that thei investor “goes off his tucker,” i.e.,| isn’t keen to invest, well, it’s a warn- ; ing that there’s something affecting his financial appetite. Local men would naturally prefer to use their money in New Zealand, and if they are making “traitors” of themselves by sending it tabroad, it must be because they are “full up” of local in- } vestment. Surely, under ordinary circumstances, an individual has the right to invest where he wills. Where would New Zealand be but for foreign money invested here And are we to take all and give none? Admittedly, in times in crisis, it may become wise and necessary for the Government to prohibit the export of capital, but are we on a crisis now? I thought everything was supposed to be going swimmingly.

What is the “best” in local investors that the Government is appealing to—loyalty and nationhood? Try that appe'al on some other ranks in New Zealand, and see how it works. What is sauce for the goose is sauce for the gander. Give the local moneyed man an even chance to compete—appeal to his appetite for in-vestment-land there’ll be no need of a firing squad to eliminate the traitor element. Otherwise, the Government may soon find itself driven or drawn into totalitarian methods,—T. W. CAMERON.