MR. HOLLAND RUNNING AWAY FROM QUESTIONS, SAYS PRIME MINISTER

Wanganui Chronicle, 17 November 1949, Page 6

MR. HOLLAND RUNNING AWAY FROM QUESTIONS, SAYS PRIME MINISTER

WELLINGTON, Last Night (PA) “Mr Holland is still running away from my questions about the currency deflation promised by the Nationalists,” said the Prime Minister (Mr Fraser) today. “Of course he won’t reply. To do so would only mean disclosing details of the Nationalists’ policy of deflation. “Naturally, he runs faster and faster,” said Mr Fraser. “He has said his set speech and he dare not depart from it. He says there is too much spending power. Mr Bowden says it will be cut down. Who will get less? How much less, How will they reduce the people’s spending power? Monetary deflation is a depression. Less spending means less buying. Traders, importers, shopkeepers and manufacturers will quickly suffer from the reduced turnover. The last, time the Nationalists applied deflation business activity fell disastrously. Men were thrown out ot work, liquidation sales were everywhere, goods were cheap, the pound went further, but few people had any pounds to spend. This is the policy in favour of which the Nationalists have now declared themselves. No wonder Mr Holland runs away from my questions and refuses to tell the people the consequences of his decflation policy.”