MR BRAY’S ECONOMICS

Press, Volume LXXIV, Issue 22508, 16 September 1938, Page 15

MR BRAY’S ECONOMICS

to xxa edxtob or raa press. Sir,—lt would seem that one dose of the new economics has been too much for Mr fi, J. Freeman. It would take too much of your space to put him right on what I did say on Sunday evening. As an alternative, I will answer his letter from the public platform on Saturday night, and if he so desires, I will give him the platform for five minutes to define what he would have the system do for him. — Yours, etc., W. B. BRAY September 15, 1938,

xo xk> asisoa or m Sir, —Your correspondent “National Credit” states the case correctly when he says, “The subject of finance is the burning question of the day and is of vital importance to all peoples.” There is also the disquieting fact to ; Mr Freeman and other supporters of ( the present obsolete money system that : these people are awakening to realisation of this same fact and of its , importance. \ In “The Press” to-day the cable news quotes that great Canadian daily, the “Ottawa Citizen,” in ’ referring to Europe, “that the Sudeten question is merely a pretext—the real concern, as in 1914, is world markets.” That specifically is the new economics Mr Bray is striving to put across—the true nature of finance and where it is leading us to in New Zealand. To-day we blind ourselves with making Socialism versus private enterprise the issue, while the real issue is whether money is to rule mankind (Homo stultus) or to be ruled; whether it is to 'be the moral-less, and conscienceless virago of unrealisable dimensions for evil or a simple handmaiden to production through private enterprise with happiness and social advancement for all the people (and not one section of it) which both sides talk so flamboyantly about and without Buckley s chance of realising, and know it Millions are thinking with Mr Bray to-day where a few years ago it was only thousands.. Names _ like Lords Northbourne. Tavistock, Sempxll. and Tankerville Sir Verdon Roe, Professor Soddy, V. C. Vickers, former director of the Bank of England, and P. C. Loftus. M.P.. are some of its supporters in England. Here in New Zealand, to name a few, we have Sir Andrew Russell. Mr Rushworth M.P.. Archbishop Averill. the Revs. Percy Paris. T. H. Roseveare, and Mr F. W., Horner, the latter four being leaders of four of the principal denominations, all clamant for economic reform. These men

could hardly be associated with it if it were as Mr Freeman states, “just fantastic.” —Yours, etc., _ Y, T. SHAND. September 15,1938. TO TUB EDITOB OB TUB PEE3B. Sir,—l thank “National Credit” for his reply to my letter in Tuesday s issue of “The Press,” hut regret he did not answer my questions in mat reply* I agree with him that finance is a burning question to-day, but do not agree that it would be necessary to hire a hall to receive the answers to my questions; I certainly did not disagree with all he said, so I challenge him to reply to those 1 did. Should Mr Bray wish, he can obtain my address from the editor and debate with me round a cup of tea in my home. It is seldom that any party is completely right or wrong. History supports that contention, so it is reasonable to sin what one thinks good from each party and emilinate what one thinks wrong; then, after that, vote for what one thinks substantially correct. Nevertheless one cannot but see tne increasing similarity between New Zealand’s political party policies. Mr Lee is quoted in Wednesday’s issue of “The Press” as saying that if our exports fell to half the value we should export twice the quantity. Surely that is agreeing, as do the Nationals, that our purchasing power is governed by our sterling funds. But to this I repeat that those funds can be safeguarded by not importing what is produced here. I still maintain, until shown to be wrong, that with too much money being issued that proportion spent on overseas goods would reduce our sterling funds and necessitate borrowing overseas. Borrowing here is not so serious, for it is using what we have. Mr Lee also supports the latter in Wednesday’s issue of The Press.” Vested interests prevent individuals and all parties from upholding what should be common policy; and those interests are so various. Democracies need armaments to enforce justice after persuasion has failed and arbitration is rejected.—Yours, etc., E. J. FREEMAN. - September 15, 1938.