MONETARY SYSTEM

Waikato Times, Volume 122, Issue 20502, 19 May 1938, Page 11

MONETARY SYSTEM

INVESTIGATION WANTED ROYAL COMMISSION SUGGESTED (Special Reporter) AUCKLAND, Wednesday. Delegates at the annual conference of the Auckland provincial executive of the Farmers’ Union to-day expressed dissatisfaction with the present monetary system and approved the suggestion that a Royal commission should be set up to investigate the system. Remits from Northern Wairoa urged that the Government be asked to appoint a Royal commission to investigate the position with full power to compel the production of documentary evidence and to determine such other means of issuing money and credit as would not result in inflation nor in any increase in public or private debt. discussion, a remit embodying the suggestions contained in the Northern Wairoa remits was carried unanimously. Dairy Surplus There was considerable discussion on a remit from Northern Thames to the effect that if there be any surplus in any year’s dairy industry account, whether from butter or cheese sales, the money should he refunded to the factories by which it would have been received under free <alc conditions, as soon as flie amounts due could be ascertained. Pointing out that the last dairying season had been an abnormal one. a delegate moved an amendment to the remit urging the Government to pay to the producers in full any surplus In the dairy industrv account for 1937-38, The remit was lost, the amendment being carried by a l.irgo majority.