Replying to Mr Massey re sinking j funds, the Premier said these now j amounted to nearly a million. No j Government h3d aver appropriated a j single penny of sums set aside for pay- ' ing off any debt. When such funds j had been liberated it was by a new j contract with the lender and with his full consent. Instead of funds being "collared," as Mr Massey suggested, they had been expressly made an endowment for helping to repay the whole public debt, and cannot be checked til! that is done. The Act j provides that they cannot be invested' in New Zealand Government loans stock', but must be lent to farmers, workers,and local bodies. To "collar" such funds implied the cancelling of loans to these people. Any treasurer who tried it would be quickly expelled from office. He had no hesitation in saying no more valuabe Act had ever been passed. j
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https://paperspast.natlib.govt.nz/newspapers/KCC19111206.2.26
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King Country Chronicle, Volume VI, Issue 420, 6 December 1911, Page 6
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155Untitled King Country Chronicle, Volume VI, Issue 420, 6 December 1911, Page 6
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