MASSEY v. WARD.

Shannon News, 15 June 1923, Page 4

MASSEY v. WARD.

PREMIER RETURNS TOTHE CHARGE. WELLINGTON, Last Night. r The Premier, replying further today to Sir Joseph Ward’s critidisms, maintained that far from making pro-; vision for meeting the Imperial Gdvernment war advances by including them in loans falling due in future years, Sir Joseph had provided, for £4,131,000 only by the issue of debentures, but £22,000,000 was covered by a memorandum agreement. This, in effect, left that large spm as a floatingdebt with no fixed date of maturity. Thus it remained till included in the Reform Government’s funding • agree l inent concluded last year. Mr. Massey complains that Sir’ Joseph Ward attempts to minimise the difficulties arising out of the war charges cind post-war depression and' claims that the net increase ■ in’ the public debt after deducting* increases' for which the war is directly and indirectly responsible, is £3,270,000 only, which is'not out of proportion to the normal expansion of the Dominion's requirements for education, postal, railways and other servictes.’He'ciaiirte; also that the taxation per head of the 4 population has been reduced by £6 1/3 during the past three years, and .is pleased to be able to say that for tho' financial year 1922-23, the public debt shows a net decrease; that tax remissions were made Inst year, and tnat further reductions will be made this' year.