OBJECTION TO WAR LOAN.
WELLINGTON, May 12. Mr Vcitch declared to-day that the absorption of money in any such proposal as a local loan would promote a grave financial crisis in the country. " I think," ho said, " that those people who- are advocating a local loan are the people who have large accumulations of war profits standing to their credit in the banks, and who want the Government to give them a good investment for their money. They have proved to us at least that they have credits available. I think that is a sufficient excuse for raising a portion of the necessary funds for carrying on the war directly by the taxation of war profits and collecting a great deal of that monov in the form of taxation, and not as a war loan. Surely it is our duty to attack war profits first. I do not think it needs a Radical to support that view. Various Corservativcs will agree with it.'' A little later in his speech Mr Vcitch declared that the Government should collect a. great deal more in New Zealand than it had collected, and not issue Government debentures.
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Otago Witness, Issue 3244, 17 May 1916, Page 17
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193OBJECTION TO WAR LOAN. Otago Witness, Issue 3244, 17 May 1916, Page 17
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