CREDIT & SPENDING

Wairarapa Times-Age, 6 July 1939, Page 7

CREDIT & SPENDING

PRIME MINISTER REPLIES TO CRITICS. PRICE FALL & ADVERSE SEASON. (By Tidegraph—Press Association.) WELLINGTON. This Day. The allegation that the Leader of the Opposition and those associated with him had done all they could do to damn the credit of New Zealand was made by the Prime Minister, Mr Sav age. who followed Mr Hamilton in the Address-in-Reply debate in the House of Representatives last evening. Mr Hamilton, he sa.-., had been going round the country stating that the country faced serious commercial, financial and industrial difficulties. He had been talking about gross overspending and the incompetent administration of the Government. ""But he has not said whore there has been gross overspending." Mr Savage continued. “He has not said where we have dissipated public funds. The member for Eastern Maori wants •> brand new railway on top of it. ‘We are spending too much money now, but spend more in my electorate" is the philosophy of the Opposition. Mr Savage said it was true that overseas prices had fallen and that un favourable seasonal conditions had lessened the volume of primary production. and he quoted the opinion of the chairman of the National Dairy Con ference. Mr A. Morton, that the past season from the seasonal aspect was the worst over known in the dairy industry. Mr Morton knew what he was talking about, he said. The fall in production for the year in dairy produce was estimated at about £2.250 000 sterling. The fall in prices represented another £1,250.000 sterltng. He failed to see how the Government could legitimately be blamed for the weather in New Zealand or the prices in London.