MR NASH AND FINANCE

Bay of Plenty Beacon, Volume 7, Issue 12, 5 October 1943, Page 4

MR NASH AND FINANCE

Sir, —When speaking over the air on 21/9/43 Mr Nash stated that the internal'•debt'of. this country was today 460 millions; not stating who were the principle creditors. E presume that the trading banks are the principle - and tliisi implies that the 460 million represents a private account against the nation, compounding a debt once more to the international banking system. I would like Mr Nash to definie the difference between goods and-money in connection with the Lease and Lend as money only represents goods and services. If we are producing goods at 1938 prices in exchange for American goods at present prices, the producer and the people are being committed to an ever-increasing debt, that is not warranted. Mr Bodkin states that, we arc selling our butter at 1/4 whilst it was being sold through the City of London to America at 2/9. A Labour member (Mr Stokes) of the House of Commons asked the late. Chancellor of the Exchequer Sir Kingsley-Wood, when he was going to release more butter to the people. The reply was that it would not be. before 1946. This being so, why arc the British people not getting it and who is getting the rake off? The same question might apply to most of our primary exports, re prices. Yours etc., W. BRADSHAW.