INTERNATIONAL FINANCE

Bay of Plenty Beacon, Volume 8, Issue 7, 12 September 1944, Page 5

INTERNATIONAL FINANCE

Sir^—Mr Mora would lead me to 9 * believe that he is an advocate of the present orthodox system of foreign capital controlling the for such it is today; and all the Brenton-Woods Conferences will not alter the fact that whilst there- is a centralised banking system under private which is international we are not' going to have that peace, on earth we are looking for.

D also am not a Socialist as it leads to beaucratic control. I agree with my friend that the present, form of capital control—as administered under orthodox conditions —-is a wasteful and wrongful application as the results of its maladministration, but P cannot agree that, capital in. hands of the few (individual wealth) adds to the prosperity of the nation. My friend speaks of the rightful application of capital under individual control during the last five years, but. who Japan with the scrap iron and munitions of. Avar ? And who was it that arranged credits to Hitler for munitions of war? It was good old "individual capitalism." True democracy never can run hand in hand with individual capitalism if and what is the use of your capitalistic progress, when the common people get. the benefit crossed out in taxation. No one can construe a national undertaking to be a monopoly for it is national. It can't be international. But the mono-

poly of the bank of international settlement is against the unitj of nations } by co-operation. My sympathies are with the war wracked peoples of Europe 3 and co-operation will give service when centralised control won't. The capitalistic element of computation comes in once more to mar the picture; the international banker plays the fiddle Avhilstt the world burns ! Yours etc. W. BRADSHAW.

J. Ditchfield. Your letter infringes too much .upon religious sentiments to be considered by us suitable for publication. We have allowed 'Britisher' and S. Mayow to give question and answer upon two occasions regarding the delicate topic of 'Communism and Christianity.' The matter has been ventilated and thrown much-needed light upon the clouded assertions which have usually ruled in this and it is not our desire or intention to allow the controversy to develop into the issue of 'free thought' versus 'orthodoxy.' The whole subject is now closed. Ed.)