RUMOUR AGAIN DENIED.

New Zealand Herald, Volume LIX, Issue 18235, 31 October 1922, Page 6

RUMOUR AGAIN DENIED.

AID TO CO-OPERATIVES.

NO LOAN OR GUARANTEE.

ONE POSSIBLE EXCEPTION.

[BV TELEGRAPH. —SPECIAL REPORTER- ] WELLINGTON. Monday. The Prime Minister, in the House of Representatives this afternoon, said that statements had appeared in some of the newspapers to> the effect that he had introduced, or intended to introduce, a Bill asking for authority to raise £1,500,000 for the purpose of assisting some co-opera-tive institutions in New Zealand. He had not introduced such a Bill or said that it was his intention to do so. How the story had got about it was impossible for him to say. Mr. W. H. Field (Otaki): I heard it called " coddling the cockies." Mr. T. K. Sidey (Dunedin South): Is there any provision to be put in the Finance Bill?

Mr. Massey: No. Mr. C. E. Statham (Dunedin Central): Any guarantee? Mr. Massey: No. If the member is staying here "for the purpose of passing it ho can go home. There is no such Bill. A member asked if the Primo Minister intended to extend the time for the repayment of deposits. Mr. Massey : I think there is something in that idea, but I know there is some objection to it. I do not want to extend the moratorium a minute longer than is absolutely necessary. It is probable that owing to the recent increase in the price of wool and in the price of meat, and the outlook for flic country generally, these concerns will be able to go on without assistance from the Government. . " There may be one exception, Mr. Massey added. " There is one concern that l think may require Government assistance. Something may be done for it, but I am not certain about that. Those people interested in the export of pork will know what I mean."

The reported intention of the Government to give financial assistance to certain co-operative concerns formed the subject of meetings yesterday of commercial bodies in Auckland. The Auckland Chamber of Commerce despatched the following telegram to the Prime Minister:—" It is reported in this morning's Herald that the rumour that you are borrowing £1,500,000 to lend to co-operative associations is incorrect. Will you kindly confirm, as in the opinion of this chamber it would form a most dangerous precedent for the Government to legislate for financial assistance to any commercial organisations, this being a matter that should be left, as hitherto, in the hands of the usual financial institutions." The Auckland Employers' Association sent the following telegram to Mr. .Alassey :—"This association strongly protests "against the Government financing cr g'.iarantoeing co-operative trading companies who are in competition with private traders."