The Menace of Forbes.

Star (Christchurch), Volume XLIV, Issue 257, 29 October 1931, Page 8

The Menace of Forbes.

To the Editor. Dear Sir, —For “No Repudiation’s m benefit, I will make another amazing statement. “ Elimination or reduction of debts will probably be brought about.” This is my belief, and sounds better than repudiation. But these are not my words. A Professor of Economics expresses this opinion here in Christchurch. (See “ Star,’* October 27.) Also Mr Lang expressed a similar belief some eighteen months ago. but was severely criticised in Press and % Parliament for daring to make such an infamous suggestion. Only the editor of “The Vancouver Sun” was far-sighted enough to predict that Lang’s remarks would be re-echoed through every Court and Capital in Europe. And to-day we read of economists openly advocating cancellation to enable the world to recover.

To refer to the similarity of Lang and Forbes: Granted that during Lang’s regime unemployment has become worse and taxation has been swelling, so our unemployment is on the increase, and taxation has become heavier under the Forbes regime.— I am. etc.. PROGRESSIVE LIBERAL.