National Party policy

Press, 16 April 1979, Page 12

National Party policy

Sir, — Our present dispersed system of money creation produces the worst of both socialism’s and capitalism’s worlds — direct Government manipulation for electoral gain, and private profiteering. Mr Muldoon, no less, financed his election budget deficit last year with $l7OO million of Reserve Bank credit, increasing the amount of money by 20 per cent against a declining production base. C oncurrentlv. banks were tightly restricted, but private finance companies were left free to recycle a shrinking monetary base (Ml) at interest rates in excess of 20 per cent to capital-starved industry. Our rampant inflation and depressed economy had to be the result. If this economic and social sabotage can only be halted by placing control of money creation under a judicial authority independent . of politicians and financiers, alike, then so be it. This is the extent of Social Credit’s centralist and bureaucratic intentions. To impute further designs is culpable distortion. — Yours, etc., G. A. CLOVER. Social Credit candidate, Papanui. April 12, 1979.

Sir, — Industrial unrest — strikes rife —- threatening the country’s credibility —- always the worker and unions are blamed: Never do we hear how some employers nitpick and niggle employees. Until the media gives both sides of any dispute, how can we, the public, judge for ourselves the real causes? There must however be some basic underlying cause for all this unrest. It is high time the Government took stock of its three-vear track record of dismal economic failures creating havoc among the country’s primary producers, and industrial producers, particularly in the South Island, massive unemployment, wage-freezing, excessive price increases, and now the latest agonv for the needy — the lifting of the price control regulations. Industrial unrest stems from the dismal failure of our “democratic 348,973 minority vote Government to give us stable economic policies. In January, 1978, the Prime Minister chided: “Labour is a desperate party. In April, 1979. with New Zealand on its knees, which is the desperate party? — Yours, etc., H. R. PEERS. April 10, 1979.