APPEAL TO HISTORY

Wairarapa Times-Age, 12 August 1939, Page 8

APPEAL TO HISTORY

IN DEBT OBLIGATIONS DEBATE. MR J. ROBERTSON QUOTES MR DOWNIE STEWART. (By Telegraph.) (Special to "Times-Age.”) WELLINGTON, This Day. Speaking in the House of Representatives on the amendment moved by the Rt Hon G. W. Forbes in the course of the Budget Debate—an amendment raising the question of the acceptance of debt obligations—the members for Masterton, Mr J. Robertson, said the insincerity of the amendment was exposed in its entirety if they looked back to the time when Mr Forbes was Prime Minister. ‘.‘l have here," Mr Robertson continued, “a quotation from the ‘Evening Post,’ Wellington, of November 24 1932." Mr Speaker: “I would ask the honourable gentleman, is he not getting away somewhat from the amendment?” Mr Robertson: ‘T think not, Sir. I think you Will realise the relevancy of the quotation when I read it. At that time the Hon Mr Downie Stewart was Minister of Finance, and the right honourable member for Hurunui was Prime Minister. The Minister of Finance in the Government of that day made this statement to the 'Evening Post’: "It is generally agreed that the first real step toward the world's revival must clearly be the relieving of governments from obligations which they are unable to fulfill." ‘“That statement." Mr Robertson continued, “was made, not by a private member, but by the then Minister of Finance who had just returned from London after interviewing those good, kind gentlemen to whom the right honourable member for Hurunui referred in such feeling terms last night. The statement went on: “This means the cancellation on a considerable scale or the reduction j of inter-governmental debts in order to re-establish the solvency of national economic systems, and so provide a fresh foundation on which general prosperity can be built." Mr Semple: “Who said that?"

Mr Robertson: ‘’The Hon Mr Downie Stewart, when he wits Minister of Finance in the Government of which the right honourable member for Hurunui. who moved the amendment now before the House was Prime Minister. At that time, the right honourable gentleman did not rebuke his colleague. Mr Downie Stewart went on to say—”

Mr Speaker: “I think I must bring the honourable member back to the question. It is not a question as to what was the attitude expressed some years ago. but whether from now on the country is to meet its debts or indulge in some sort of repudiation." Mr Robertson: ‘’Speaking to the point of order—" Mr Speaker: "It is not a point of order, it is a ruling.”

Mr Robertson: "All right. Sir. I take it I can deal with the present situation by merely pointing out that this discussion on the burden of debt which forms the basis of the resolution, concerns a subject discussed prior to this Government coming into office. Not only was it discussed in the past by private members of the then Government. but also by the then Minister of Finance himself. On that occasion he also stated that: "The time appears to be at hand when, if this does not. come by way of international agreement, it will come in the form of default." "Is there no suggestion of repudiation there?" Mr Robertson asked. He added that Mr Stewart's colleagues in the House did not seethe with indigna-[ tion as they were doing now, because ' of something a private member had, said. As Shakespeare put it: — ! "That in the captain's bul a choleric , word. * I Which in the soldier is flat bias-1 pherny.” |