FINANCIAL POSITION

Hokitika Guardian, 3 December 1930, Page 5

FINANCIAL POSITION

HON. STALLWORTHY’S VIEWS

By Telegraph—Per Press Association

AUCKLAND, December 2

Asked to-day if the Government had considered a moratorium, as sug-

gested by a recent meeting of i armors, Hon. A J. Stallworthv mid the terriflic fall in e-xpmt prices had produced a crisis that must l:e Faced. A moratorium was one ol the last, if not Hus very /last, weapons to be used. Its repercussions were sometimes more disastrous than the immediate evils it, sought to remed\. The Government had reason to loci assured it would ho the hanks policy to assist both primary and secondary industries over tile difficult period. I lie inexorable demands of stress!nl times would make it hard lor a man with one big farm or more, pins a city residence, seaside residence. sundry speculations, two motor cars and a hank overdraft. ,« nona tide farmer or business man with a good reputation and reasonable prospect was not in the same category, He had a fair claim on financial institutions, which was likely to ho met. The whole roources ol the Government were being used to snlcguanl the position.