NO MORE LOANS
(Press Assn.-
farmers' union against further dominion borrowing
-By Telegraph— CopyrlgUt).
Auckland, Thursday. The executive of the Auckland Farmers' Union to-day questioned the action of the president, Mr. H. O. Mellsop, in associating himself with the mayor's recent deputation to Hon. J. G. Coates, when a £10,000,000 loan scheme was advanced. After discussion the.y 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 his main object was to get something done; also one or two of the principles of the proposals were in line with the Farmers' Union's beliefs. He added that he supported the idea of finance repayment by means of costless credit when a currency board had been established. Members generally were strongly against any further borrowing. One said the present problems would not be solved unless the price level for exports was raised and the costs reduced 50 per cent.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19330623.2.40
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Rotorua Morning Post, Volume 2, Issue 565, 23 June 1933, Page 5
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164NO MORE LOANS Rotorua Morning Post, Volume 2, Issue 565, 23 June 1933, Page 5
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