BORROWING.
Sir, —The existing situation should havo one good result. It will bring homo, to all that we are the Government. ]{ we, as we have in the past, permit: extravagance and the spending of our money on uneconomic projects we all suffer. Paradoxical as it may seem, we have not objected to the mounting taxation, Government and municipal, and even now, judging bv your correspondence columns, more anxiety is shown to discover new sources of taxation and economies. Although I do not agree wit'i all the Government is doing, it is better to realise it is trying to clean tip the mess caused by the demands of fiia community for ever-increasing erp«nrfiture iu the past. If the export ancl import returns for the years 1921 to 1928; a period in which we were 6Ujs posed to be doing well, are examined, it will be found, that, when allowance is made for payment of interest overseas; we did not pay our way. The present may teach New Zealand that loans al9 debts and not income, so the more w# owe the less we actually possess. The situation is not h,opeless, but we nead a different mentality in public affairs with a realisation that economy is a great revenue and the only one to depend on for some time as overseas borrowing is finished. F.W. !
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Bibliographic details
New Zealand Herald, Volume LXIX, Issue 21163, 21 April 1932, Page 12
Word Count
223BORROWING. New Zealand Herald, Volume LXIX, Issue 21163, 21 April 1932, Page 12
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