NO COMPULSION
PROPOSED INTERNAL
LOAN
MR. SAVAGE DENIES REPORT
An emphatic denial of a report that the proposed internal loan to meet public works expenditure was likely to be compulsory was given today by the Prime Minister (the Rt. Hon. M. J. Savage), who said that compulsion was quite unnecessary in a country like New Zealand.
Mr. Savage said that the Government's monetary policy was to use the savings of the people, plus public credit, for the development of New Zealand. His opponents had used it against him when he talked about using the people's savings, alleging they would be commandeered.
"But my opponents knew better than that," he added. "We will borrow the people's savings and pay a decent rate of interest, and their' investment will be as safe, and perhaps safer, than overseas. I know the people who are prepared to get a scare going because of the Government's policy, but it is a curious brand of patriotism the same people have been indulging in within the last few weeks."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19381208.2.80.2
Bibliographic details
Evening Post, Volume CXXVI, Issue 138, 8 December 1938, Page 10
Word Count
172NO COMPULSION Evening Post, Volume CXXVI, Issue 138, 8 December 1938, Page 10
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