SLUMP LOSSES.

New Zealand Herald, Volume LIX, Issue 18016, 15 February 1922, Page 10

SLUMP LOSSES.

Sir,—A letter appeared in the Herald of February 14, signed "Battler," in which the writer complains about being summoned for arrears of interest owing since the beginning of the slump, and calling on the Government either to share the losses or give him time to pay. ThJ3 seems to be a general idea with the farmer at present, v:z., that the Government should share liis losses. I should like to ask "Battler" if during the time he had the benefit of the " boom " prices for produce he offered the Government a share of his profits? No, the public had to pay the increased prices for butter, cheese, cereals, arid clothing, both by way of extra retail prices and Gov-r-mment subsidies to the farmer, and now the public are asked to pay, through the Government, for the losses caused by the slnmp in farm produce. If I start a boot shop or a butcher's shop and prices fall, and I am unable to pay my bills for goods to stock my shop, and I ask the Government to pav for me. what would " Battler " say "to it ? Take a company that runs a big business. It buys goods at the peak of the market, and when it lands them prices have dropped. Who pays the loss? The public who have bought shares in that company. Have not they as much right as the farmer to demand that the Government share that loss ?—in fact, more so, seeing the Government takes a big slice of their profits in taxation. I do not hear of many business firms demanding that the Government should share tie heavy losses they have had lately. DIGGEE.