TO THE EDITOR

Opotiki News, Volume II, Issue 145, 13 February 1939, Page 4

TO THE EDITOR

EXCHANGE CONTROL Sir,—May I. beg a little space to make a few comments on tbe present position in New Zealand. 1 hope you will excuse me for saying so., but there is an undoubted Press campaign to blast the Labour Party in the eyes of the people, with the assistance of vested interests. We have heard l a lot about Njew Zealand money being valueless in other countries, 'ibis is ridiculous as it is because banks in Australia and other countries, under instructions from New Zealand, are refusing to exchange N.Z. notes for their own currency. How could the how of N.Z. capital t-o other countries be stopped otherwise ? Mr. Hamilton has been telling us how well off the country was under the Coalition Government and that they had accumulated £40,000,000 sterling . credits. We all know how this was done: raib ways were stopped, wages cut, teachers sacked, training colleges closed, the school age raised andi by various other means, including the suspending of house construction. There was no shortage of goods—it was because of this money shortage, according to Mr. Hafnilton. And yet that £40,€OO,OOO had accumulated in London. It should be obvious that under the Coalition these sterling credits accumulated' by a. barbarous system of restricting imports through destroying purchasing power, making the peopleunable to buy, not only imported goods, but New Zealand-made as well. And Mr. Hamilton - talks about this Government inflicting’suffering on the people! One only has to look aroimd to see just how the people are suffering? Mr. Hamilton’s party now states that, hundreds will be put out of work as a result of the Labour Government. Will Mr. Hamilton tell us how many thousands his party putout of work as a result of the Coali-* tion Party’s policy? TOO BAD.