LABOUR’S ATTITUDE TO BORROWING
To The Editor
Sir, —In your sub-leader today you state: “The Labour conference’s approval of borrowing, external and internal, marks a further important step in the return to realities that is being forced on the Government by the pressure of the financial and economic problems now confronting it.” Are your readers to assume that you approve of a policy of internal and overseas borrowing and a continuation of “debt in perpetuity”? The Labour Government has made no change in the financial system of this country; it has merely changed the administration and not the policy. Your remark that “the theory that State control of credit and currency was all that was necessary to keep the Government perpetually in funds has been found untenable” is hardly correct, Mr Editor. As far as New Zealand is concerned State control of credit remains a theory only.—Yours, etc., WATCHMAN. April 17, 1939.
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Bibliographic details
Southland Times, Issue 23796, 19 April 1939, Page 9
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152LABOUR’S ATTITUDE TO BORROWING Southland Times, Issue 23796, 19 April 1939, Page 9
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