SOCIALISTIC PROGRAMME

Poverty Bay Herald, Volume LXIII, Issue 19028, 30 May 1936, Page 5

SOCIALISTIC PROGRAMME

,MR. COATES’ COMMENT PEOPLE LED ASTRAY RISING-PRICE DANGER (Per Press Association.) AUCKLAND, this day. “I think you have a very thoroughgoing socialistic programme, said the Rt. Hon. J. G. Coates at a complimentary gathering tendered to Mr. J. N. Massey, formerly member for Franklin, at Waiuku last night.

Mr. Coates emphasised four points : (1) The socialisation of credit; (2) the control of the country’s production; (3) the control of industry and centralised organisation, dominated by trades union secretaries; and (4) unlimited credit. He believed that the trend of politics had been brought about by very clever propaganda which had convinced the people that there was starvation in this land of plenty. Instead, New Zealand was the happiest country in the world. Everything was to be gained by giving the people freedom to develop their own industries. The alternative was socialism, .every individual giving his services to the ‘State. Our people had shown them-' selves to be attracted by untried theories.

Dir. Coates estimated that £136,C00,CC0 was available for the Government to call upon from the reserves of large financial institutions. The result must be a curtailment. of credit.

“This country, with tremendous exports and a small population, cannot artificially raise prices very much above world levels,” declared Mr. Coates. Referring to compulsory unionism, Mr. Coates said that those who would benefit most in times of rising prices would be the employers.