MONETARY REFORM

Bay of Plenty Beacon, Volume 6, Issue 54, 9 March 1943, Page 4

MONETARY REFORM

Sir,—Writing in the "Beacon" of -the 23ril February Mr Braclshaw appears to have bcei? slightly confused in his political views. In his most recent, literary effort he asks whether in the event of a general election the people will be Swayed by the Lee-Barnard-Herring party. In view of the opinions expressed in Mr Bradshaw"s earlier volumes his latest epistle appears to' be sometiling in the nature of a somersault* In all of his previous letters Mr Brad shaw's slogan lias been tary reform'' which in the writer's opinion is a most laudable one. Now we suddenly find him attacking the one party which is pledged to carry out a policy of. monetary reform. The monetary programme of the "Democratic Labour Party* is as folloAVs: — (1) Ifcnniediate control of the interests of the. people of credit and currency. (2) Recognition of the principle that debt-free currency can be issued to the extent of unutilised productive capacity. (3) The setting up of a "price tribunal" to determine the. best means of securing price stability under a State-controlled monetary and credit policy—the objective of the fixation of prices being to ensure a \miversally liigii standard of. living. (4) Provision of finance to farm~« ers, home builders, manufacturers and local bodies at lowest possible rate of interest and the development of a stock and station agency within the "state owned" Bank of New Zealand. (5) That external debt services be revised. In view of the fact that Mr Bradshaw apparently disagrees with • the above, expression of. ideals it would be interesting to know what he will do on polling day as it. ia well known that he has slung plenty of mud at both the Labour and National Parties. Yours etc.,, "COMAC."»