MONETARY INFLATION

Wairarapa Times-Age, 7 March 1939, Page 6

MONETARY INFLATION

MR HAMILTON CRITICISES LABOUR POLICY. CUT ON INCOMES OF GOOD CITIZENS. (By Telegraph—Press Association.) PALMERSTON N„ This Day. “I am frequently asked by people whether their money in the Post Office Savings Bank is safe,” said theHon Adam Hamilton, in the course of an interview. "My answer is definitely yes. I do not know any safer place for money, but what I do want to point out is that people must be- just as concerned with the value of their money as with its safety. For instance, a person may have saved £750 to buy a house. He may have put the money in the Post Office Bank. New. however, as a result of Labour administration and policy, he finds that the £750 which would have built the required house a few years ago will not do the job now. Instead, a thousand is required. That is the type of movement that must be halted. Il is not a difficult, thing to understand, but ii is a vital one. In short it is an indirect method of making a cut on the income of a large section of good citizens.”