THE LIBERAL CANDIDATE.

New Zealand Herald, Volume LX, Issue 18355, 22 March 1923, Page 8

THE LIBERAL CANDIDATE.

ADDRESS AT MANAWARU.

BONDS AND PRECEDENTS.

JET EQaAPH. —SPECIAL BXPORTEft.} TB AROHA. Wednesday. Sir Joseph Ward addressed a meeting of electors at Manawaru this evening, ■when there was an attendance of about 150 people. The candidate received an enthusiastic .reception. < He had addressed two meetings earlier in the dav, one at Wardville in the morning, and another at Te Aroha West in the afternoon. Referring again, in the evening to his suggestion that Government stock should be issued to finance railway worts, Sir Joseph said that Mr. Massey was reported to have said that if depreciation occurred, the stock -would come back on the country. He wished to deny that absolutely. He instanced the caso of a contractor who might embark on a public undertaking involving the payment of £10,000 and accepted Government stock. If depreciation took place, and the contractor liked to sell his stock at a loss, that was his own concern and not a matter* to trouble the taxpayer. The speaker said that this method had been adopted when come of the large estates in the Dominion were purchased by the Government, and said that had they not adopted that method it was possible that we would not have to-day such estates at Mataraata or Cheviot, or thousands of acres of othor lands.