WHO WOULD BENEFIT?
It is submitted by "8.C.T." that "the agitation for a high exchange or a bonus is almost solely for the benefit of the' farmers', mortgagees, hiding behind the farmers." The farmers themselves, would not benefit and the unemployment situation would be worse than ever. As alternatives to get to the root of the difficulty the writer suggests:—"(l), Let the State issue its own notes in payment of all new productive works, the notes to be legal tender and to be a charge on such works on the. T>etterment principle in town-planning with provision for redemption after a" term and backed by the Unemployment Fund. (2) Let our land (farming and otherwise) be valued and mortgages written down on a basis giving the owner in each case (who is at present only the nominal :o>vner) a proportionate interest in it commensurate with the capital he has sunk into it and the labour he has expended on it: There is a big section (which is growing greater every day) of public opinion which believes that the solution lies along those lines with possibly a small bounty to the farmers in the meantime to help them in the immediate future."" '
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https://paperspast.natlib.govt.nz/newspapers/EP19321124.2.65.7
Bibliographic details
Evening Post, Volume CXIV, Issue 126, 24 November 1932, Page 12
Word Count
200WHO WOULD BENEFIT? Evening Post, Volume CXIV, Issue 126, 24 November 1932, Page 12
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