Dear Sir

Bay of Plenty Beacon, Volume 9, Issue 40, 1 February 1946, Page 4

Dear Sir

Letters to the Editor must be clearly written on one side of the paper only and where a nom-de-plume is used the name of the writer must be included for reference purposes. The Editor reserves the right to abridge, amend or withhold any letter or letters.

THE RECOMPENCE FOR PEACE Sir —Is this the peaceful act of recompence to an allied nation who has born the brunt of the war? America .came out of the first world war with all the spoils and all the gold, made loans to other countries, but ’’ unlike other countries refused to take payment in the only way any country can pay another country—by goods and services. Therefore America must take a responsibility for producing war as far as that is the cause of national bitter,ness but I would like to draw attention to the fact that it is the

peculiar nature of the international money lending racket that is causing all this national and international trouble and unrest amongst nations. Now here is the musty part of tte, business.: America sells II6V films ami cars to Australia and New Zealand for Australian money, which gives America a surplus of Australian pounds to buy up Australian factories. These factories pay dividends in Australian money which cannot be used in America- so more Australian estate is being bought up by Americans. The result is that countries which buy goods from America must gradually lose their fixed assets, and the entire British Empire may soon belong to the money lend* ers of New York. This* loan to the British people will never be paid, of! but America will acquire the key industries of England—and, if there is a secret understanding, what jmrt are the party politicians playing with high finance in the carving up of the 'British Empire, by committing her to the Bretton Wood’s agreement? We have.the experience of the New York financiers in the lease-lend deal, and there will be no more consideration from the Bretton

Woods past. The gold'Js controlled by individuals and not by the State. Gold therefore as a currency must be. viewed with the gravest suspicion. I would suggest that according to our P.A. Special Correspondent, London December 19 the issue of British economic freedom-and trade is a foreclosure by the Bank of. International Settlements not the American people who arc being drafted into the world wide scheme of economic serfdom bv the same unholy alliance of the gold bloc. The. Daily Mail says: No one is happy about this but we arc in need of the money, and no one found any practical alternative. To produce goods and subsidised by national for internal exchange (Treasury Bills) debt l‘rec ) is the cure for the exploitation of the British Nation by the Bankers. But the Dominions can and must support Britain to save themselves and her from this economic slave trade. The

Daily Express says: On what basis shall the commerce of the world in general and the British Empire in particular be organised? On supply and equating from the surplus of each individual nation. (We must not forget the bitter lesson of the 1920’s when we were committed to the Gold Standard). But the system on which goods are based on debKand is not a matter for argument but for the correction of our fiscal policy. Tf we arc to get economic freedom then we must declare for a Sovereign Government for while we allow our governments to be dictated to by Wall Street ? and the Bank of the peace that we have fought' for will be ruled out by the international gang protected by the hired military control of some other nation. It was to be Germany before the war, it can be America after the war ? it may be Russia next! But it will be the same old international gang who worship the Golden Calf ? that is out to cripple the nation. Yours etc.^ W. BRADSHAW.