THOUGHTS FOR THE TIMES.
HOW TIIE GOVKRN.MEXT RAIDS I’ItIVATE PItOPEMV. A successful institution seems to be the “Aunt Sally” of immature politicians aiul half-baked financiers. There are scores of joint stock companies which have shown heavy losses, and whose affairs, if critically examined, would be found to have been grossly if not criminally mismanaged, have become tli© particular care and concern of the Government. Creditors are deprived of their rights in favour of the sliareholdors, for none of these compv—ies can (ho forced into liquidate i, and tho depositors cannot claim the;-,' money until the end c 4 the ;ea'-. Here is a premium on incompetence and inefficiency, and the Government is applauded for providing the premium-. Mercantile Gazette.
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Hokitika Guardian, 8 September 1923, Page 2
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119THOUGHTS FOR THE TIMES. Hokitika Guardian, 8 September 1923, Page 2
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