THAT £13,000,000

Te Awamutu Courier, Volume 53, Issue 3821, 14 October 1936, Page 5

THAT £13,000,000

“BORROW OUR WAY TO PROSPERITY!” “It is time the members of the House and the people generally were told how the £13,000,000 that is to be borrowed is going to be raised,” said Mr W, J. Broadfoot, M.P. for Waitomo, discussing the Finance Bill in the House of Representatives. Mr Broadfoot said that the Prime Minister had stated that one could not borrow one’s way to prosperity. “Now, there is an impressive silence on the part of members of the Labour Party—those gentlemen who espoused the cause of debt-free money, costless credit, Douglas credit, and the like,” he said. “One of the Ministers said at a public meeting in Wellington that he saw no difference between social credit and Douglas credit. He has to face up to a small army of interested gentlemen later 1 , I would like some of the members of the Labour Party vtlho espoused the cause: of social credit, and costless credit, and Douglas credit, to tell us why they are agreeing with these clauses in the Bill which relate to borrowing. Sooner or later they will have to answer, and tell their constituents why they are supporting this Bill when the Minister has already told us that we cannot borrow our way to prosperity. What do our Douglas credit friends say to that?”