THOUGHTS FOR THE TIMES.
The Boiihowing Mania. Wc want a bold policy of restricting loan expenditure, imt wo will nevoi get that unless the taxpayers rise up and demand it. We are getting less work done now for our loan expenditure, and wo have 10 pay higher rates of interest for Ithe .loans. Furthermore, loans raised years ago at comparatively low rates of interest arc f a ||jng due and cannot be renewed except °!it a higher rate of interest, which must tend to increase the burden on the taxpayer. This year Mr Massey is taking authority to borrow £4,000,001) for public works and £--- 000.000 for loans to settlers and others .and chattels are to be accepted as securities. There, is no thought of reducing or repaying loans, hut the policy is to spend. The country is dritt,iuo- and will presently he faced with a financial crisis. It only requires produce prices to fall a little 'over to see an enormous amount of vlockage. —The Mercantile Gazette.
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Hokitika Guardian, 3 October 1922, Page 2
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167THOUGHTS FOR THE TIMES. Hokitika Guardian, 3 October 1922, Page 2
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