STATE NOTES
(To the Editor of the Herald. 1 Sir, —As'the present Government, to balance its budget, borrowed (a la Sir OttOmoyer) from tho banks £10,000,000 on the security of tho returned soldiers’ mortgages, which amount will bo paid back to the banks in interest, alone within fifteen years with the principal still outstanding, may I ask permission through your paper from public accountants, actuarians and statisticians to point out any flaw in the following suggestions to immediately ameliorate the financial difficulties in our Dominion.
There is an unmortgaged tangible asset of not less than £30,000,000 excess of production in this Dominion. As our Government have given authority in the past for the banks to issue notes, so lot them abrogate that authority and print State notes on this asset for each town or district to receive its quota per capita to provide immediate productive work at a livingwage.—Yours, etc., G. 11. LOCKETT.
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https://paperspast.natlib.govt.nz/newspapers/PBH19321126.2.6.3
Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17947, 26 November 1932, Page 2
Word Count
153STATE NOTES Poverty Bay Herald, Volume LIX, Issue 17947, 26 November 1932, Page 2
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