RECONSTRUCTION PLAN
THE AUCKLAND PROPOSALS DISCUSSION BY FARMERS’ UNION. (Per,. United Pees* Association.) AUCKLAND, June 22. The executive of the Auckland Farmers’ Union to-day questioned the action of the president (Mr H. O. Mellsop) in associating himself with the Mayor’s recent deputation to the Acting Prime Minister (Mr J, Q. Coates) when the £10,000,000 loan scheme was advanced. After a discussion they approved of his action, but expressed opposition to any further borrowing by New Zealand. Mr Mellsop explained that he joined the deputation because the Mayor had said his main object was to get some-' thing done; and also because one or two of the principles of the proposals were in line with the union’s beliefs. He added that he supported the idea of finance repayment by means of costless credit, when a currency board had been established.
Members, generally, were strongly against further borrowing. One said the present problems would not be solved unless the price level for exports was raised and costs reduced 50 per cent.
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Bibliographic details
Otago Daily Times, Issue 21987, 23 June 1933, Page 10
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169RECONSTRUCTION PLAN Otago Daily Times, Issue 21987, 23 June 1933, Page 10
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