EXCESSIVE TAXATION
EVIL EFFECTS ON COMMERCE. (Rec. November 18, 10.20 p.m.) London, November 18. Mr. R. M'Ke.nna. at Manchester University, emphasised the evils of excessive taxation, which impounded savings and deprived commerce and industry of an essential condition of growth. Moreover, in order to meet (lie demands of the next collection traders were forcedto borrow. There had been an increase in purchasing power wjthont a corresponding increase in commodities, hence there was a groat increase in the velocity of expenditure, which was the cause of the ucrious phenomenon noticeable since the armistice, wherrby increased produc.fion had been <.icompanicd by rapidly rising ,pricea.—Aus.N.Z. Cable Assn.
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Dominion, Volume 14, Issue 47, 19 November 1920, Page 7
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104EXCESSIVE TAXATION Dominion, Volume 14, Issue 47, 19 November 1920, Page 7
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