PATERANGI.

Waikato Argus, Volume V, Issue 349, 4 October 1898, Page 3

PATERANGI.

Mutual Improvement Society.—Mr W. Johns read a paper on "Is our present currency system conducive to our best interests," at the Hall on Thursday even ing. Mr Robert Kay was in the chair. Between thirty and forty ladies and gentlemen were present. Mr. Johns, on coming forward, said he would like to say that although he thought our currency wan insufficient, he did not recommend any substitute, nor was he in favour of Bi-metallism. He then read his paper. At the conclusion the following members of the class gave their views : Messrs Legertwood, Ryburn, senr., Germanu, Finch, McCallum, Ryburn, juur., and the Chairman, the majority being opposed to Mr Johns' views. Mr Johns replied at length. A hearty vote of thanks was passed to Mr Johns for his kindness in coming such a long distanc?. Mr Johns in his paper maintains that the insufficiency of our currency, and not being able to expand or contract with the real wealth of the coimtry, was the cause of panics, hard times, etc. All the speakers opposed this view, stating that supply anddemand, speculation, dishonest trading, storms, droughts, etc.. all had more or less to do with it than our currency. One speaker thought Mr Johns favoured a State Bank, but this wab at once denied. The final meeting for this season takes place in a fortnight, when the Rev. Walter Smith will give a paper on " Dickens."—(Own Correspondent.)