Import Restrictions Denounced By Nationalist Candidate

Northern Advocate, 2 June 1939, Page 5

Import Restrictions Denounced By Nationalist Candidate

[Per Press Association. Copyright. 3

CHRISTCHURCH, This Day,

“Even though the position was fairly desperate in the dark days of the depression, it was not necessary to have import restrictions,” commented Mr M. E. Lyons, National Party candidate in the Christchurch South byelection, in a campaign speech. Discussing the Hon. W. Nash's visit to England, Mr Lyons said New Zealand five per cent, bonds sold in 1935 at a price that gave the holder interest at £3 7/8 per cent. At present these bonds could be bought at a price which gave a return of £5 8/10 per cent., and unless' the British Government came to the rescue. Mr Nash would have to pay an interest rate that would outbid £5 8/10. Such a thing had not happened to New Zealand except after the war years, when money was excessively dear. At another stage, Mr Lyons commented that the Post Office Savings Bank was not being quoted by supporters of the Labour Party as being an infallible guide to the prosperity of the country, nor did he think it likely any such references would bo made at meetings addressed by his opponent.