THAT NATIONAL DEBT
WHAT REFORM HAS DONE MR. POTTER’S ANALYSIS Answering the critics of the Government's financial policy, Mr. V. H. Potter. Reform candidate for Eden, spoke at the Epsom Library last evening. Mr. Potter' said the Government had been assailed for its policy of borrowing £54,000.000, the national debt standing at £251,000,000. The Reform Government was not responsible for all this, the war cost of £82,000,000 having first to be subtracted. The ordinary debt was therefore £169,000,000. of which £31,000,000 was used for State Advances, and £9,000,000 for discharged soldiers. It had to be noted that £107,000,000 of the debt had been raised in New Zealand, so the interest and sinking fund remained in the Dominion. A large portion of the money had been spent on non-productive works of public utility.
The candidate said that increased trade returns were sufficient answer to the charge that the Government was responsible for business stagnation.
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Sun (Auckland), Volume II, Issue 502, 3 November 1928, Page 10
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153THAT NATIONAL DEBT Sun (Auckland), Volume II, Issue 502, 3 November 1928, Page 10
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