HEAVY BORROWING

Taranaki Daily News, 5 January 1935, Page 10

HEAVY BORROWING

POSITION IN UNITED STATES. ABUSES OF DOLE SYSTEM. "Politically you read a lot about the good work the N.R.A.. is doing in America, but during my travels across the States I never met' a single individual who had a good word to say for it. Things are very bad in America, and everybody is nervous—men, women and children.”

Such was the impression gained by Mr. J. R. Templin, consulting engineer, Christchurch, who arrived at Auckland on Saturday by the Mariposa, states the Auckland Star. Since July last Mr. Templin has, with his wife, been on a visit to America.

“The nervousness of the people of America has been brought about by the enormous amount of borrowing, and the manner in which the money is being spent,” he said. “There are millions on relief, and the distribution of the dole or sustenance is not considered at all satisfactory by those who are working, and, through taxation, finding much of the money which goes in relief pay. You can take my word for it that there are places where people drive up to the relief depots in their motor-cars and receive their sustenance pay. Other people who are honestly trying to pay their way are now saying, ‘What’s the use?’ They haven’t a bit of confidence in the Government. I think America will ultimately pull through, but it is going to be a big task.” Mr. P. K. Condict, vice-president of the International Telephone and Telegraph Corporation, who also arrived by the Mariposa, and is to spend some time in the Dominion on business and pleasure, supported Mr. Templin’s opinion to the extent of saying that the depression had hit America very hard, and the country was far from prosperous. However, he thought there had been a little improvement recently, and that recovery would be brought about in time.