Dear Sir,

Bay of Plenty Beacon, Volume 11, Issue 60, 30 July 1947, 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.

AN APPRECIATION

Sir, —I wish through the columns of your paper to express my appreciation of the excellent treatment, courtesy and consideration shown me while a patient in the Whakatane Hospital by the staff of that institution. It is very gratifying to know that while in most other parts of New Zealand at the moment hospitalisation, especially in relation to the safety and consideration of the patient appears to be a most contentious subject, the people of this district are extremely well favoured in having such an efficient and wellrun hospital from the staff angle.

I believe that nothing is too good in the way of facilities for recreation and accommodation for the nursing and other staff members who perform such a splendid service to the community and to this extent would hold that no effort should be spared by those whose responsibility it is to build and maintain a modern and up-to-date hostel and purchase even better medical facilities.

It is difficult to assess the real reason for the apparent inability of those responsible to immediately start such a project—but fear of a slight increase in rates would to my mind be too miserable an argument to carry much weight—unless of course rates are considered to be more important than life. Yours etc., H. G. BROWN.

WALL STREET FREEZES / STERLING

Sir, —We as a nation must realisd that this dollar stunt is not of the American people’s asking, but of their rulers’! For he who holds the credit of the nation, controls the Government of that nation. The financial position is that as far back as March 8, 1947, “Bretton Woods has gone sick.” Under a headline of an American financial journal, “World Bank Goes Wall Street.” Professional bankers, not diplomats, will set the policy' now! The Treasury and State Departments have now surrendered half of the control of the Bretton Woods machinery. They still run the funds, but Wall Street is quietly taking over the bank. From now on the professional banker will set the policies for what is the biggest lending institution in the world, as a potential power to dominate Governments. This reshuffle has brought three new men, all with Wall Street backgrounds, into the bank’s top jobs. So it comes about that these three new appointments are John L. McCloy the big corporation lawyer and former Assistant of War, Eugene Black, first vice-president of the Chase National Bank of New York will be chief Executive Director, and Robert L. Garner financial vice-presi-dent of General Foods, and former vice-president of New York City’s Guarantee Trust, will be the bank’s new president. “This last appointment is significant with regards Britain’s food supply.” I would refer to the converting of stei’ling to dollars. The reason why there was no run on sterling (London, July 16, 1947) is that the Treasury and the Bank of England “experts” had done a good job! Yes, for Wall Street interests! According to the Bretton Woods Pact all sterling must be converted to (gold value) dollars, and the debtor nation has to borrow to buy those gold dollars. And under the scheme all nations come under the oligarcy of the extra territorial state governing in Washington by its three million (Jewish) bloc vote, and controlled from Wall Street. The London Financial Authority says: The bulk of the accumulated sterling balances of the three billion five hundred million (sterling balances) will not get back to international circulation. Sterling will become scarce because the ' world will require sterling to pay for British exports; and the accumulated sterling balances will not be released, in other words ‘‘frozen.”' Finally, the authority says it is an utterly unreal situation. Quite so: To be tied to a phoney currency issued by an extra territorial minority. It is time that the British people demanded the control of their credit free from centralised international finance. The remedy is “a British Comonwealth Credit Authority. It

is quite possible for us (N.Z.) : 'to give a lead, thereby enabling us, to break- the shock of this “mari^made^" disaster. But if we “the people” do not demand the right of determination, then we should not squeal when wet get it in the back of the neck, for without the body-politics our Parliament, is impotent and futile.. ..... ~y.; . ■:./ ,■ , ■:} y. ■ Yours etc., .' W. BRADSHAW-