POLITICAL FINANCE

Bay of Plenty Beacon, Volume 7, Issue 1, 24 August 1943, Page 4

POLITICAL FINANCE

employment whereas both are 'iinevitable products of the financial arrangements he proposes. Yours etc., W. BRADSHAW.

Sir, —Most of our political friends say when asked for a ideal grant, that there is 110 funds available, notwithstanding this; the implimentation of. funds could be. maded by the demanding of the peoples credit (e.g. Treasury' Bills) but our party politician can't see it. He prefers to remain the dictator of the financial policy, yet he knows that 90 per cent of the money issued. j in New Zealand is. Bank credit in the form of deposits, and if the Reserve Bank will: not produce this money (Treasury Bills) then the only other place that this money can come from is the Trading Banks. This would mean that we should have to. borrow privately manufacvtured money and pay interest forever. While he is. demanding a more equitable system of taxation he 'is perpetuating tlie present system of usuring and debt, he stands for compulsory savings, for post-war credits, whereas savings passed to the Government arc spent and become a "debt" not a credit to the community. The party politician declares that, he is out for the "pre- -A vention of economic crisis, ancV un(Continued in previous column)