HAURAKI ELECTION

Hokitika Guardian, 6 May 1931, Page 6

HAURAKI ELECTION

LA BO UR (AND I DATE’S WA RNIXG. (By Telegraph—Per Press Association) AUCKLAND, Alay 5. The ILuuiaki bv-election campaign, in which so far three candidates have been chosen, opened last night, with ail address by Air C. R. Petrie (Labour). Air Petrie said that the issUe was dear and distinct. It was approval or disapproval of the Forbes policy. All Forbes bad not only attacked the standard (, f living, but the social services. Mr Forbes had not yet disclosed his full taxation policy. There was £2,250,000 to be found iti the next quarter, and the worker, in addition to ten per cent, cut, would have to bear part of this. There would be fresh customs taxation, including ten and sugar. The country was faced with a fusion which the candidate said, was inevitable, and with sixty members against' - twenty, wiiat legislation would it get ? The wages reduction meant a decreased purchasing power of thirteen millions. The Labour Party was not in favour of inflation, but he believed that the rapid deflation of to-day would lead thousands of workers, business people, property owners to insolvency. It seemed that the country’s purchase’*power would soon be insufficient lor commitments.

ATr . Savage, deputy: lender .of the Labour Party, said that if ParliamoiT bad not destroyed millions of pounds of purchasing power, but insisted on a reduction in the hank rate, it won! 1 have done something to restore industry. There was more money on fixed deposit in the banks to-day than evei before. It was leaving industry but d was in industry that it was needed. The rationing of credit for industrial purposes w«s overdue.

Air Petrie was accorded a unani mons vote of confidence.