I.M.F.
Sir,—Tuesday’s editorial has my full support. I can quite understand why Social Crediters and some National politicians rail at the World Bank and the International Monetary Fund. These people have yet to realise the wonderful part played by both in getting this stupid world back to stability after the avoidable 1939-1946 holocaust. What I do not understand is why so many Labour politicians get so depressed about the functioning of these two organisations. As a neutral observer, I can easily visualise the uncomfortable feelings of some Social Crediters and ultraNationalists. Joining the World Bank would be an agreement for an all-round surrender of sovereignty, for the World Bank is a truly international body and its operations provide the sharpest deterrent against depressions and slumps. It is an institutional arrangement of the “haves” coming to the rescue of the “havenots.”—Yours, etc., RALPH S. WHEELER Timaru. May 16. 1961.
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Press, Volume C, Issue 29515, 17 May 1961, Page 7
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148I.M.F. Press, Volume C, Issue 29515, 17 May 1961, Page 7
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