MR. NASH SPEAKS IN WAIPUKURAU

Dominion, Volume 34, Issue 43, 14 November 1940, Page 5

MR. NASH SPEAKS IN WAIPUKURAU

Paying For The War AVOIDING DANGER OF INFLATION Dominion Special Service. WAIPUKURAU. November 13. That in today's circumstances the only safe and sound way of avoiding a dangerously inflationary tendency was to meet war expenditure by taxation and genuine savings out of income was the propostion the Minister of Pittance, Mr. Nash, placed before the largest political meeting yet held in Waipukurau, in the by-election campaign tonight. There should not be any debt left after the war. but that would not be brought about from any dream of debtfree money, be said. That did not mean that the credit-creation policy should not be used to the limit, but that limit should be carefully watched and strictly observed. He urged co-operation iu the National Savings Scheme, stating that if excess purchasing power was not diverted from Ute purchase of ordinary consumable goods, terrific pressure would occur on the volume of goods available with inevitable rises in prices. At the conclusion of the war, investors would have built an asset they could use in many ways. Mr. Nash repeated with emphasis that every penny saved would be used for war purposes. A portion of the address was devoted to discussion of the dairy industry. The Minister said that no section of the community had benefited more from the present Government’s policy. In terms ot actual income received the dairyfarmers of New Zealand were better off to the extent of £3,000,000 than they would have been under the old conditions. He repeated his previous statement that he had been condemned by the Dairy Conference before it bad heard what he had to say.