INDUSTRIAL ENTERPRISE

New Zealand Herald, Volume LXIX, Issue 21253, 5 August 1932, Page 15

INDUSTRIAL ENTERPRISE

Sir, —Mr. Archibald misrepresents what I wrote about tho State Advances Office. What I wrote was, "I have never assaulted anything in connection with that office, except the clauses in the workers' branch of it, which authorised the department to lend up to 95 per cent of the value of the land and the house it was proposed to build on it." Tho latter part of the sentence, commencing with the words, "except the clauses," Mr. Archibald wilfully leaves out, thus entirely altering the statement I made. He also says, "Mr. Thornes would have us assume that the provision for granting loans up to 95 per cent was a mandatory enactment." He has no right to say I would have anyone assume any such nonsense! I say to give such a power is wrong. That it has been exercised is a fact Mr. Archibald cannot dispute, any more than ho can dispute the inevitable loss tho taxpayer has suffered in consequence, and that he will continue to suffer so long as such utterly unbusinesslike transactions are permitted. This is my reason for urging immediate repeal of that clause. It is not sufficient safeguard to say the department is not now doing it. So long as the power to do it remains it may be done, and that should be rendered impossible. 231 Parnell Road. J. Thornes.