Debt-Free Money

Hawke's Bay Herald-Tribune, Issue 199, 8 September 1937, Page 3

Debt-Free Money

"CAMPAIGNER."

Sir,— In Friday 's issue of the HeraldTribune a letter appeared over the name of the "N.Z.W.L." suggesting that the Economic Security Club was probably another name fdr Dougiasisru. In case the letter does not come to the notice of Mr. Marks for a reply, the committee of the Economic { Becuriry Club assurcs the inquirers that all shades of economic and political opinion are represented in the sponsors of the movement, and while they may. not all agree on many subjects, they do agree that there is no excuse for povorty and inseeurity in a rich country like New Zealand, and that the hold-ap in the distribution ,of the plenty in all supposedly civilised countries is caused by the present obsolete linancial system, which spells debt. destruction, disease, decay, and death; every country buried in debt which can never be repaid; destruction of commodities that people urgently require; -disease through malnutfition with lack of hospital accommodation everywhere and shortago of money to extend it; decay through diminishing birthrate (it is predicted that in one hundred years England's population will be less than that of London at the present time); and death. "The old man said while the young man bled, war, war to the knife." A sane system would finance the people of a country to buy their own produce or its equivaUmt, which in tum would obviate the necessity of elamouring for foreign markets and so removing oue of the -prime factors in the cause of war. "The Rise and Eali nf the British Ernpire" will soon be obiainable in the cheap edition if ehe fails to make the weifare of all her people the very first consideration and she can only do that by making tho money system keep pace with the marvellous progress of production made pessible by scientists, engineers, and technitians. Public opinion will eventualiy force monetary reform and the electoral campaign in New Zealand is out to organise and make expressive lliat public opinion. — Yours, etc.,

Hastings, Sept. G, 1937.