AN OUTSIDE VIEW

Hokitika Guardian, 22 November 1928, Page 2

AN OUTSIDE VIEW

GOVERNMENT CHEAP MONEY

EX-NEW ZEALANDER’S COMMENT,

WELLINGTON, Nov. 19. During his visit to Sun 1' raneisco Mr Robert Bell. Christchurch, met a gentleman formerly prominent in Dominion business circles. He continues to watch our alia it's and made such strik. ii-cr comment on how things appear to him from a, distance that the returning Now Zealander noted it down. “ In San Francisco I had a conversation with a business man, a native of New Zealand, and he asked many q”cstion.s about his native land, sate Mi- ell. “ He was particularly pleased to hear that the fine climate and beautiful scenery were attracting many tourists, that production from tin* soil was increasing and the export trade expanding. When, however. I told him of governmental and municipal trading activites he was appalled and said : “ Tfiis is sheer Communism. There ,-an only he one end to that. It will dcstrov all ambition and initiative i• ’ business men, and gradually lead tthe withdrawal of capital from tin country. VOll tell me about the so called cheap money the Government i finding for mortgages and that private leaders and also thrift institutions, such as building societies, insurance uciupanies and the like, arc being driven out of the mortgage market. That is inevitable. Your Government gets cheap money on the London mar. ket by pledging the credit of the conn try and its citizens ami then proceed to undercut those citizens by one IriP per coni', a most iniquitous state "t affairs. Looking ahead a lew years i‘ is conceivable that the Covernnieir will In- the sole mortgagee. \\ ha! then? Why the .mortgagors. tie people ol the country, will tell th Government, of that day that it is only (In- servant of the people and llia> they refuse to pay interest or repa\ eauilal. That’s how it looks to me As a newspaper man you should b' unceasing in your efforts to “s'oleh this iniquitous state o: ."'airs, lor I feel that if all these activities of yoei Government- and local bodies eontinm New Zealand, my native land. w:l not lx* worth living in h.v hardworking, progressive or sell-respect in'.'

THE LAST STRAW

Mr Ingleby Oddie, the Westminster coroner, held an iiiqHost on Wilfred Hiekio Sanderson ('_'(D. of Jermvn Street. St. Jamos*. S.W.. wlio threw herself from a baleony. Mr Harold William Sanderson, of Denham. Buekinghamshire, a director of Wallpaper A amifacturers. Ltd., stated that he made his son an allowance and ln> was quite comfortably off. His son h d no love affair and was temperate, h i " sometimes liverish and depressed." lie was educated at Queen’s College. Oxford, and his future was assured. There was no history of mental trouble in the family. The coroner's oflicer said that Mr Sanderson had shaved prepared his hath. I here was some iodine in the room, which suggested lie had cut himself while shaving. i’eeording a verdict of suicide while ■ unsound mind. Mr Oddie said-that i' w case was very diflicult to explain. The young man had had attaks ot do; ressi< n and it was quite possible tliat feeling liverish, and being miserable, lie though that it was the last straw.