N.Z. FINANCE.

Hokitika Guardian, 10 June 1924, Page 3

N.Z. FINANCE.

AIR MASSKY IiKPI.IKS TO

CRITICISM. [»y TEI.KGHAI'II —l'Elt I'KKSS ASSOCIATION.] AI'C'KbAND. .Tunc 10. Replying to tlic criticism of New Zealand's I’iiuiiicc at tUc banquet to the lion. Mr Pan-. Mi Massey spoke of the success of the last loan which s..owed how secure credit of tile couiitrv is. according to the most com] cteiit indues. r l h<* Government has |,oen criticised for ending the year with a surplus. Heaven only knows. Mr Massey said, what the critics would say if we had a deficit. "When heavy expenditure is to lie faced it was necessary to have a surplus. lie Imped to he able to induce Parliament to make a. considerable reduction in taxation within the next few months. Mr Massey maintained that the exemption from tax of mortgages up to £IOOO was right and he showed the Government was concerned with the small settler struggling alone. He holioved the trade of New Zealand, per head of the population, was higher than any other country; yet. people were going about saying the country was going to blue ruin. AAhilo the country owed C21.C00.000 the interest earning assets reduced the dead weight to only £0:»,000.000. much of which was also productive.