FUSION.

New Zealand Herald, Volume LXVIII, Issue 20960, 25 August 1931, Page 13

FUSION.

gjr—I am sure every citizen in New Zealand who is loyal to his country must como to the conclusion we have a great many difficulties to overcome in the next few vears and it is no use burying head" under the sand like an ostrich. We have just as much, if not moro, to face than tho Australian States, and, unlike them, we are putting off the evil day. I'll take my hat off to Mr, Forbes for the work he has dono, but ho is not getting enough backing from tho other parties. With all the present cuts and extra taxation I understand tho Govern- / merit expect to be over one million short in March, 1932. What about the following year, 1933? They will moro likely be" four million short unless tho present policy is changed. To my mind there is only one thing to do, and that is for the "United and Reform Parties to fuse before the coming elections, and go to tho country with a bold policy on the lines of the Australian Premier's plan-—which is as follows:—(1) Interest on all internal loans to ho reduced to 4 per cent.; (2) interest on mortgages to bo reduced by 22J, per cent. /(If the parties are not satisfied they can put their caso beforo the Court.); (3) banks to reduce their overdraft rato by 1 per cent.; (4) all Government expenditure to be reduced by 20 per cent, in every department. I liavo always maintained it is not fair to reduce wages unless interest is also reduced and on this point I am sure Labour will see I am out to mako an equal sacrifice. From recent cables it looks as if England is going to follow Australia's scheme,-/ and before tho year is out most countries will have to do the / same, which will automatically bring down interest on external loans. Beenaed Teipp. Gleniti, Timaru, N.Z.