INTERNATIONAL FINANCE.

Grey River Argus, 2 June 1943, Page 2

INTERNATIONAL FINANCE.

(To‘ the Editor). Sir. —The correspondence between Mr. Finlay and myself, which originated when I commented upon Mr. Nash’s statement decrying the conviction that international finance plays a real and deleterious part in the affairs of nations, has opened into a very broad aspect, and will, I hope, have been instructive to readers. The question of finance is like the diamond —it has numerous facets, each reflecting an element of truth. I believe that what I have said about the pernicious system of bankingdebt money-interest spiral finance and what Mr. Finlay has pointed out concerning the evil of monopolies and trusts are equally important, containing truths which ought not to be ignored. Because I shall shortly be leaving for several weeks. I shall not be able to prosecute further this corresspondence, the object of which has not been, to win arguments but to gain and diffuse knowledge. Probably we have both contributed to. that end. I am not at all ashamed of having been bitten by the "money bug” (to quote Mr. Finlay). Would that more also had their eyes opened- The “bug” has bitten many thinking folk: — Abraham Lincoln: “Money . . . should be maintained as an exclusive monopoly of the National Government.” He succeeded in spreading his conviction so far that the “London Times” declared: “That Lincolns Government must be destroyed, or it will destroy every monarchy on the globe.” Lincoln paid the penalty with his own life. W. E. Gladstone. Thomas Jefferson, and Arthur Kitson are counted with numberless others (with whom, incidentally, it is no ;> sin to associate “John A. Lee and Co”). I do not contradict the claim that the Government has a “man-sized job on, its hands in conducting the war effort” —I only stress that it would be helping to free present day taxpayers and posterity from the chains of tax slavery if it lived up to the policy on which it was elected (which doubtless Mr. Finlay expected it to fulfil) and became authority for the monetary policy of the country. This is not a Dominion problem alone; it concerns all men everywhere, who are caught up in the net of the money monopoly in pnvate hands. Money is not itself wealth. Money is exchanged for wealth, not changed into it. This power to create and destroy money at will, thereby automatically determining how many homes shall be on the breadline and who shall be allowed to secure some measure of livelihood, should not rest with private persons. Indeed, we the people must demand that such a purely arbitrary _ “system ’ oi finance shall cease. This war has taught this, among other lessons—the tremendous ease with which credits are created for death ana devastation compared with the miiarances which “a sane monetary policy” in peacetime places in the way of a full-orbed life for. the individual. . , , One final word: Mr. Finlay believes the people can never be free merely because the Government may assume control of banking. Granted there are other, factors to consider surely remedying the position in that one respect alone would be : well worthwhile. That will be a proposition put to many candidates at this election. Yours etc., ELECTOR.