"ZANN” RELIEVES PILES.

Evening Star, Issue 21746, 14 June 1934, Page 6

"ZANN” RELIEVES PILES.

“ You will be glad to learn that for the last few days 1 have enjoyed considerable relief and am free from pain t will certainly continue the treat ment and feel sure that it will do all you claim it can do.” So writes a grateful user of the Zann Double Absorption Treatment. Neglected Piles can cause untqld agony and lead to more serious complaints. Write for free trial treatment of “ Zann ” without delay, enclosing sixpence in stamps for packing and postage. Address Zann Proprietary, Box 952, Wellington. Booklets and stocks of “ Zann ” obtainable from H. L. Sprosen, Chemist, 1 George street, Dunedin, and B, S. Scofield, Chemist, 123 High street, Dunedin.

This depends on what is meant by the word “ stabilising.” If it is intended to mean that its commercial value shall remain permanent it is impossible, just as it is impossible to stabilise the commercial value of butter, cheese, coal, or any other commodity. It is obvious that the commercial value of these commodities depends on the labour cost to produce them. If cheaper methods aro applied to produce them their exchange value will fall. The same thing applies with gold. If gold should bo found in greater quantity, or cheaper methods were adopted to get it; then its commercial value would fall. In other words, it would exchange for less cheese, butter, etc. The most we can do is to fix the price of gold at a figure, as is done when a country is on the gold standard. For the benefit of readers it will be as well to give the formula. “ The Bank of England is required to sell gold in exchange for any legal tender at the price of £3 17s 10i'd per ounce, in the form of bars containing approximately 400 ounces.” Mr Harrison will see that gold is stabilised as much as any other commodity. Its value when on a convertible basis depends entirely on tho labourcost to produce it. the same as any other commodity. Its price is as stated above; all other commodity prices are nut in relation to it, at that price. 3. ‘‘lf the volume of our currency bo increased the purchasing power is reduced in the same ratio in nine cases out of ten. Under what law does this take place, or what must the community do to stabilise purchasing power? ” Answer; On a managed currency as at present the purchasing power will decrease as tho volume is increased. The greater tho increase the greater the loss in purchasing power. To illustrate, on the assumption that we have four millions of notes and four millions of commodities to exchange, the exchange value of commodities to notes will equal 1 to 1. Increase the notes to eight millions, and it then becomes obvious that two notes must be given for one commodity. Increase them to sixteen millions, and they fall to four notes to one commodity. It is obvious, then, that 4 the purchasing power falls according to the increase in volume, assuming, of course, that there is no increase in the volume of commodities against As to the law governing the above, it is one of the natural laws, and only requires common sense to understand. On a convective or gold standard basis, the volume of money will only expand according to the demand of the people. It too many notes are put in circulation they will immediately reflect themselves on the foreign exchanges, and people will immediately commence to convert them to gold. Thus there can be no expansion in the volume of money other than the bringing of more gold com into circulation through bullion being minted into coin. . .. , . 4. “ If the community decides to increase credit, what method are we to adopt to guarantee that the credit issued shall be utilised to remove destitution and help to restore prosperity. Answer: The community cannot bring about prosperity by an increase of credits —money. What it can Jo is to speed up the velocity of consumption. This would necessitate replacement of that' which is consumed or vised, fne power the people have is either to tax or borrow. (5) “If money is not real wealth, only a portable token representing real wealth, can tho community issue credit upon private property?” Answer: Money is real wealth. As before stated* all money (currency), whether it Ik* paper, shells, or cattle, etc., has a com•modity value. Thus it must be wealth The community can and will, through either the Government or the banking institutions, liquidate frozen capital or privately owned property when the exchange values are more equal. in other words, the volume of legal tender issue is excessive, based on the value of gold. The value of fixed capitalproperty, land, and machinery, etc.— is false when put in its relation to the value of gold. The problem is to bring about-a more equal value between currency and fixed capital. The method adopted, as is well known, is to force down costs. Unfortunately for the working class, through the lack oi knowledge on the part of their leaders the burden is being borne by them out of all proportion as compared to othei sections. In writing this I do not wish to reflect on the sincerity of any persons. I know and believe that the workers have a just grievance. My only object is to help them to better their conditions. But they can only do this when on the right track. Bacon truly wrote; “ A snail on the right track will defeat a racehorse on the wrong track. Yea, the faster the racehorse the further he will get from his goal.” Labour is on tho wrong track when it thinks it can better the workers’ conditions by an extension in the volume of currency.—l am, etc., C. M. Moss. i June 13.