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Otago Witness, Issue 4041, 25 August 1931, Page 74

“ It would be a great reform if public works and other Government expenditure was cut down during boom periods, and extended during times of depression,” said Mr W. A. Gray in a discussion on State enterprise at a meeting of the Open Forum the other evening (says the Auckland Star). “The curtailment in the first place would serve to restrain the effects of the boom, while increased expenditure during the slump period would help to stabilise prices, and provide productive employment for many thousands. We should learn to economise _in prosperous times, when goods and services are dearer and spend in times of depression.”