MONEY.

Hokitika Guardian, 28 February 1925, Page 1

MONEY.

(.John Blunt in “ Daily Mail.”) 'I he rise in the value of sterling has made people begin to talk once more about a return to a gold coinage in this country. I slut!! ho delighted when that day arrives, not only because it will he a, sign of increased national prosperity hut also because il "ill In; a sign that I, myself shall spend loss. After ten years of paper pounds and ten shillingses, I can’t yet bring myself to treat them with the same reverence and to part from them with the Haim: reluctance as gold, coins. For gold creates in virtue of itself a feeling of the preciousuoss of wealth, whereas paper, whatever he printed oil it, cannot impress one with its solid worth. ROST-WAR SREXIMXG. It, may seem fantastic to say sn, but I feel quite sure in my own mind that a great deal of the fatuous extravagance that marked the post-war years was directly traceable to the lari that we were only Hinging pieces of paper about. I cm sympathise heartily with those savage tribes in Central Africa who have always insisted on being paid in gold for ilicit* labour and produce. It is no good explaining to such people licit naper money is just as mineable: they don't believe il. And though we do believe it. nevertheless, because we are still more or loss primitive at heart, most ol us find it n'.lleh easier to spend five C 1 notes than live golden sovereigns. We may ho more logical than the savages but we are less sensible. AYo can understand that a piece of paper can represent tt pound, hut when it comes to spending it we can niton see little more than a piece of paper. CHEQUE SXARE. In a similar wav. cheques are a'givat snare. It is so simple to write a cheque, so easy to attain one’s heart’s desire hv a mere signature, that one is led inLo shocking extravagances which one would never have dreamt of il one had to make one’s purchases with a bag of sovereigns.

They say that the moony-lax authorities often find it dillicult to induce people to pay up. hut I tremble to think what would happen il people had to pay in specie. They don't get very much out. of me. hut, even so, il I had to settle ill solid bullion, 1 should probably be dragged there every time by one or more policemen. RESPECT FOR GOBI).

The extravagance of the world will receive a decided check when the countries of the world return to a gold basis. Private economies, which, in the aggregate, account for so much, will he enormously increased when people once more handle real money and not scraps ol paper.

This is a psychological laet. I lie respect for gold is something bred in the bone, for, through countless ages, gold has been the standard of true value. This may not bo sound but it has to be allowed for. I am not surprised that people like Indian Rajahs hoard gold: it gives them. I suppose, a feeling of ultimate security. I confess I would rather like to have a secret hoard myself.*