LABOUR’S FINANCIAL POLICY

Timaru Herald, Volume CXXXVII, Issue 19523, 24 June 1933, Page 2

LABOUR’S FINANCIAL POLICY

ADDRESS BY REV. CLYDE CARR, M.P. There was a small assemblage of the public at the Crown Hotel corner last night, when the Rev. Clyde Carr, M.P. for Timaru, delivered an address. The chair was occupied by Mr S. Lang. Mr Carr said that those who had read the advertisement calling the meeting would have seen that it stated that “an early election means a Labour Government,” and “A Labour Government means prosperity in six months.” He said he did not know how many agreed with the first statement, but from his experience of late in travelling up and down the country, he had been impressed with the growing feeling of dissasatisfaction with the Government, and the only alternative was a Labour Government. Not only had he found dissatisfaction, but there was also a growing wave of confidence and enthusiasm towards the Labour Party. Those who were ignorant of the Party’s policy were studying it, and those who had prejudices were having them removed. Never in the history of New Zealand was the Labour Party more in favour with electors in the main than at the present time. He went on to refer to the present Government’s policy of drift, and spoke at some length on the Economic Conference at Home, indicating that all the delegates were waiting for the other person to move. Delegates seemed to be darkening counsel with a multitude of words, and the Conference had reached a stalemate. The New Zealand Government had been waiting for something to turn up to put the country on its feet. The financial policy of the Labour Party was that New Zealand could determine her own price level, and her own standard of living. She could regulate the purchasing power of her own people. It had been claimed that the present difficulties were due to economic nationalism, and a dose of this would not do New Zealand any harm, however paradoxical it might seem to say so. The speaker issued a warning to those whose interests were in the cities, that a campaign had been launched with the definite object of breaking down the manufacturing industries, and if it succeeded, hundreds and thousands would be thrown on the unemployment market. If there was an election to-morrow, Labour would fly in, but Mr Coates and Mr Forbes and the banks were determined that there should be no election.

Mr Carr went on to say that if the Labour Party was returned to power, it would take control of the banking system and the Bank of New Zealand, and would place directors on the Bank who would act in the interests of customers and not of shareholders. They would issue State or Treasury notes, restore pensions, and probably increase them, pay Public servants and Public Works employees in State notes, and generally pay a decent standard living wage. What was needed in New Zealand was an increase in purchasing power, and the Labour Party would bring this about. He contended that the present slump had been deliberately created, and he had proof of the fact. The Banks made money out of nothing and the Labour Party could and would do the same, only they would see that the right people got the money.

At the conclusion of his address, Mr Carr was accorded a hearty vote of thanks.