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Wairarapa Times-Age, 8 September 1939, Page 7

The possibility that the limit of .taxation had not been reached in New Zealand was mentioned by Mr. W. M. C. Denham. M.P., at the annual social of the Southland section of the Post and Telegraph Employees’ Association. “I don’t know that we are quite finished with taxation yet,” said Mr. Denham. “There may be some more jerks coming for the higher-paid people. We want £5.090,000 for defence, and we want money for the iron and steel works at One'kaka, so that we will be saved the necessity of importing. The individual will perhaps say that we have hit him pretty hard, but the taxation will benefit the country as a whole. If we go down and you elect in our places other people with another political philosophy, the bondholders will say that the standard of living must be reduced. We say that it is not necessary to cut the standard of living and close factories simply because the bondholders tell us that our finance is not sound. There are some people who are slow to understand the great issues at stake.”