OUR WAR FINANCE

Dominion, Volume 9, Issue 2722, 17 March 1916, Page 6

OUR WAR FINANCE

PROFESSOR BEDFORD'S VIEWS. ■ By'Telegraph—Press Association. Dunedin, March 16. Professor Bedford, addressed a 1 public meeting to-night on the "Unsoundness of New Zealand's "War Finance." He Concluded an elaborate examination of the - principles underlying economies withi'the following proposals:— (1) ; That all borrowing from Britain should; cease, and that we should, lend

. to her; a great loan should be raised i in New Zealand to enable the Govern-1 I- ment'■ to say to the Imperial Govern- ■ nent,:','!Tou can. have from 5 to 10 mil- ;. jitxas*: worth of produce on terms of ; sredit'ito last while the war lasts." (2) That to ensure a diversion of the : 'Pommioii's money from luxury,_ and • its accumulation for purposes of investment, "taxes on sucli things astotalis- , ator dividends, alcohol, and picture show'receipts, should be so heavy as;to compel a substantial diminution in their : indulgence. (3) That to minimise the inflation of curreiitiy, increased prices, and cost of living occasioned by internal loans, the whole'cost of training and equipping

the Dominion's Expeditionary Forces should -be borno by revenue obtained by increased taxation; the burden should fall first on war profits. (4>-That with a view to a speedy rehabilitation, after the war and prepare tion for the settlement and employment of returned soldiers, the State should borrow locally, for strictly reproductive work as much of tho surplus wealtli as \ s available, consistently with tlie -need 'or \?ar and tlie power to get the necessary by means of lonnp and taxes:' we should endeavour, to draw off all'money now devoted to luxury.