I.M.F.
Sir,—lt should be remembered that social capital was c used in the early develop- c ment of both capitalist and ] socialist countries. In the j former, this aided private t investments and created vast t reserves of private wealth, < and in the latter, it was used 1 for social wealth, and still I is on a vast scale, so it s appears, to those who have a 1 true regard for the welfare I of our people, that to call I on outside sources of capital ! is extremely unwise because, ’ in difficult times, creditors ■ always call the tune. Is any- ' one benefiting by throwing us to outside financiers? If our ' politicians are ignorant of : these elementary facts, then , they should not be in the , position to betray our people and our country. Social capi- ■ tai is used extensively in New Zealand, and only the ignorant, rogues, and fools will refrain from using It for everyone’s well-being. If knowledge is wealth and courage, then obtain knowledge, but first, peace.—Yours, etc.. MELVILLE B. MITCHELL. April 23, 1961.
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Press, Volume C, Issue 29497, 26 April 1961, Page 9
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176I.M.F. Press, Volume C, Issue 29497, 26 April 1961, Page 9
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