POLITICAL ISSUES.
TO FHt EDITOR
Sib, — M Pro Bono Publico" writes in your issue of the 17th inst., complaining of the United Party’s excessive borrowing, and telling ns how economical the Coates Government was. May I ask whether " Pro Bono Publico ” will dispute that (1) the Reform Government borrowed £115,000,000 during its 16 years' term of office; (2) the Reform Government left a deficit of £420,000; (3) since the United Government assumed office in 1928 it ba* added £6,000,000 to the funds of the Advances to Account; (4) and has also made advances . aggregating £8,000,000; (5) as New Zealand is a producing country, there ifl not a better proposition than the two latter.transactions; (6) in 1928 Sir Joseph Ward succeeded in converting £20,000,000 bf stock on good terms, the holders receiving £4 15s 3d per cent, for the full period of the new loan; and (7) in addition a loan of £7,000,000 was floated in London at H per cent, at £95, yielding £4 16s 6d to investors, although the Reform Party claimed that the United. Party could not borrow cheaper money than it bad done? i—l am, etc.. Queue Few-ow. December 18.
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Bibliographic details
Otago Daily Times, Issue 21214, 20 December 1930, Page 18
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193POLITICAL ISSUES. Otago Daily Times, Issue 21214, 20 December 1930, Page 18
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