THE CURRENCY QUESTION.

Taranaki Daily News, Volume LII, Issue 18, 15 February 1909, Page 3

THE CURRENCY QUESTION.

* A MINISTER'S VIEWS. By Telegraph.—Press Association. Wanganui, Saturday Night. A deputation waited on the Hon. A. W. Hogg this morning re the currency question, pointing out that the stringency of the legal tender was restricting industry and causing unemployment. They considered tire Government might issue its own paper and use it to pay for public works, thus keeping workers employed, instead of discounting it abroad. Moreover, it deemed absurd to have to pay interest to foreign moneylenders for the privilege of employing ourselves on our own public works.

The deputatiou pointed out the success of this course in umer lonntrirs.

The Minister expressed pleasure at the matter being brought up, and said he was in entire sympathy with the depu tation's views. 'lie thought it the right thing to do, but pointed out that he was only one member of the Ministry. Every young country needed ample cur reucy to develop its resources. The Government was endeavouring to develop industries and open up the country, but was blocked by want of currency. The. banks at some times lent money freely on reasonable security, but at others called it in as fast, and no dependence could be placed on their advances for a steady supply. Various Governments elsewhere had used a Stnln issue, of currency with advantage. He acquiesced in all tbat was said, and would do all lie could to help the matter along.