THE CAUSES AND CURE OF THE PRESENT DEPRESSION

Rotorua Morning Post, Volume 2, Issue 350, 11 October 1932, Page 6

THE CAUSES AND CURE OF THE PRESENT DEPRESSION

PRO BONO PUBLICO.

(To the Editor) . Sir, — Replying to "Enquirer's" questions re my letter I wish to state as follows: — Suppose the Government conscripts wealth as already pointed out it could then pay good wages for necessary work instead of pittance rates for unnecessary work. Money would then flow and man No. 1 would have no difficulty in raising or earning the first £5. Re people who owe money, but have none owing to thetn. If money were circulaifing as it should and would do if this scheme were in practice, these people would get some of the circulating cash and - earn more. Then pay their debts off a bit at a time and thus continue this cash circulation with all its attendant benefits to everybody. Re "how would the Government conscripted money be put into circulation?" Finish the Waitaki hydro electric scheme at 14's per day of eight hours and contract rates pro rata. This would then employ attendants permanently, and produce more employment for power users on industries at present undeveloped. This would circulate initial wealth at its inception, and keep more wealth circulating by cheap power developing in dustries at present stagnant. Complete the Gisborne- Waikokopu railway. This again would circulate a lot of initial cash and its earnings and runnings would keep more continuaily circulating and permanently employ many men. Transport would then be done on New Zealand coal instead of imported benzine and more local cash circulation would result. Many . more sound in dustries in New Zealand are languishing for want of developing capital which would flourish and employ men. I trust this makes it clear to "Enquirer," but should he or any other reader desire further information I will be pleased to do my best. — I am, etc.

Rotorua, October 8.