DANGER OF INFLATION

Bay of Plenty Beacon, Volume 1, Issue 84, 6 November 1939, Page 6

DANGER OF INFLATION

ONLY ALTERNATIVE LEFT

Professor Algie, whose clearly an uouneed sentences made it possible for all in the hall to hear without the slightest difficulty, described the spendthrift policy of the Labour Government and said it could only lead to inflation. In 1939, he said the government had taken over the Reserve Bank with no legal cheques reserve whatsoever. Ihis was in drastic comparison with the position when it took office, and there was a balance in credit of something resembling 40 to 4.") millions. To get through this in less than two terms of office was not a bad performance. "You can't take any more out of a bucket than you put into it," he said, "unless you're a conjuror or a politician, and then of course you ■ don't believe cither of them."

Loss of Citizen Rights. Dealing with several instances of ■"Government action tinder the Industrial Efficiency Act, and also

-with the import restrictions, which lie claimed when first introduced were invalid, and had been cited as such by a judge of the Supreme Court, lie said that the citizens of New Zealand had no longer any legal rights in any disputes he maj r have with the government. The courts existed for the settlement of disputes between citizen and citizen. but between citizen and his government they were only a tragic farce.

Defence of Democracy. The people of this Dominion had got to find common cause in sending their sons, husbands and broth-

ers overseas to champion democracy against the aggression of dictatorships and the ravages of the totalitarian states. Yet at the same time they were exnoeled to sit idly by and see everv liberty they possessed.

quietly d?sai)iv>aving. But there was a limit to winch all New Zealanders could go. and beyond which they would not be goaded, and bethought from his observations that this had just about been reached.

Tt was necessary however to put forward some construct] ye alternative and one day in the very near I'n'ure he trusted that the people of Vlnkatane would be asked to combine in the programme they had in view. This woidd take tlie form of a collective effort in conjunction with 'the fanners, businessmen and others to lake a combined list of carefully compiled grievances, which have been caused as the result of the Labour Government's policy, and present them to Parliament with two requests. 1. That immediate steps be taken to remedy these grievances, and 2, that the government •will not proceed in future with anj r flirther enactments for the socialisation of New Zealand under the flimsy pretext of war emergencies.

Need For Understanding. In conclusion lie appealed fo«- better understanding" between employer and employee, and asked business-, men to si and the strain as long as ivssfblc before iesorfing to the cyj.-, tirg down of staffs.