THE NATIONAL DEBT.

Wairarapa Age, Volume XXXII, Issue 9579, 28 August 1909, Page 4

THE NATIONAL DEBT.

The land nationalisation fetish is responsiolo as much as anything else fur the unfavourable appearance of our national indebtedness in the eyes of outside critics, remarks the "Marlborough Herald." It may be presumed that if the freehold principle were adopted not only would fresh confidence be gained in financial circles, but also a large proportion of the millions now locked up in the Savings Banks and other banks would be utilised in the purchase of State holdings held under the leasehold. One thing that seems pretty certain is that unless some such plan is adopted closer settlement :n New Zealand will only ad- 1

vance at the further expense of the national debt, which everyone agrees is even now of inadequate proportions. The freehold would bring three distinct advantages —(1) it would provide the money for the purchase of further estates for closer settlement without committing us in a still greater degree to the foreign money-lender; (2) it would create confidence in capitalists circles; (3) it wojld unlock for investment and enterprise a large amount of money that now rests in "stockings" and Bank deposits.