Borrow and Spend

Hawke's Bay Herald-Tribune, Issue 148, 10 July 1937, Page 7

Borrow and Spend

"FARMER." |

Sir, — I notice Mr. Baird at the retailers ' meeting, and Mr. Boach at the Hon. D. G. Sulliyan's meeting, expressed a wish that the exchange should be removed. These gentlemen seem to imagine that the exchange is a levy on tne public; they evidently will not be told that the exchange was .only a policy of inflation brought on by the depresgion. In effect, it is only calling a Bntish £1q0 equal to £125 in New Zealand. The Hon. D. G. Sullivan lcnows what chance the farmers have of paying for the incrpased prices caused by the shortened hours and extra wageg demanded by the Government, plus some retailers' profit if the exchange were removed. The Government is bleeding thp fariner liarder than ever; in my pwn case putting up land iax from 80/- a week to £7, connting this £356 as profit, and charging income-tax on my debts. With the exchange on, and good prices " >r produce they have a chance of getting this amount. Let prices come bac-k to norma], and tho exchange taken off, the Goverhmeiit would conflscate all 1 have got to satisfy their demands, the only farmers who would be able to meet them being the ones who bought their land when it was cheap, and who have now got it free of mortgage. Everv other rate and levy has been advanced accordingly, and all departments are spenfling liarder thgn ever. The public are even obliged to pay for banquets where the well-to-do throw bouquets to each .other. But why worr-y? Times are good, so borrow and spend, posterity will meet our debts. even if compelled to Rve within in eomes: our children will still have to pay the debts we loave them. — Yours, I etc., I