ACTION QUESTIONED
F.U. PRESIDENT ON DEPUTATION. REGARDING BIG LOAN SCHEME. (Per Press Assocmtion Copyright.) AUCKLAND, June 22. The executive of the Auckland Fanners’ Union to-day questioned the action of' the president (Mr H. 0. Mellsop), in associating himself with the Mayor’s recent deputation to the Hon. J. G. Coates when the ' £10,000,000 loan scheme was advanced. After discussion they approved of his action, but expressed opposition to any further borrowing by New Zealand. Mr Mellsop explained that he joined the .deputation because the Mayor had said that his main object was to get something don# Also one or two .ol the principles’' of: the proposals wqrc in line with the Union’s beliefs.
He added thnt lie - shunor-ied fhe idea of finance''repayment by means of costloss credit when a currency board 'has boon established.
Members generally Were strongly’ flo’ainsf; any further borrowing. One sail] that present problems could not ba solyed unless the price level for exP r, rt< were raised, and the costs reduced 50 per cent. •
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Hokitika Guardian, 23 June 1933, Page 3
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167ACTION QUESTIONED Hokitika Guardian, 23 June 1933, Page 3
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