TRADE AND LOANS.

Wairarapa Age, 31 May 1928, Page 5

TRADE AND LOANS.

MR. W. J. POLSON IN REPLY TO FINANCE MINISTER (The “Age” Special). ( PALMERSTON N., May 30 “The position is a great deal worse than the official figures show, snd I defy Mr. Downie Stewart or atyone else to dispute it,” said Mr W. J Polson m replying, at the Farmers’ Union Conference in Feilding to-day, to criticism levelled at him by the Right Hon. J. G. Coates and Mr. Stewart. He wanted the conference to know what his opinions were, as he had more concern for the opinion of farmer; than tor that of those who were not producers. It had been said that when he spoke at Eltham, his figures were in accurate, and the Reform Organiser had attempted to show that he had misinterpreted official figures. There was no justification for this attack, as he quoted from the “Official Year Book.” Curiously enough, his figures coincided with those used and quoted by Professor Murphy and other economists. He defied Mr. Downie Stewart to prove the position was not worse than the official figures showed. The Minister of Finance had accused him of ignoring the fact that fifteen millions had been advanced to settlers and that this Department was self-support-ing. Ho had not ignored that. The whde argument was on the question of rhe balance of trade. Should an everincreasing borrowing policy continue while the value of exports remained practically at a standstill? That was the question.