PUBLIC OPINION

Waikato Times, Volume 125, Issue 20921, 28 September 1939, Page 11

PUBLIC OPINION

As expressed by correspondents whose letters are welcome, but for sibility. Correspondents arc requested to write in ink. It is essential that anonymous writers enclose their proper names as a guarantee of good faith. Unless this rule is complied with, their letters will not appear. STAG TROPHY COMPETITION (To the Editor) Sir, —I think almost every Rugby supporter will join with me in congratulating the City Club and team on their success in winning the 1939 Stag Trophy Competition, more so as they won in their first year for some time in senior status and were only defeated on occasions when they were considerably handicapped. I maintain I was the first to advocate this competition in Waikato Rugby. Writing in your columns originally under a nom de plume I called it the “Taranaki system,” pointing out its many advantages and making reference to the fact that not one club in Taranaki ever forfeited its fixture. Now after several years of its operation in the Waikato I have been pleased to note every team here has fulfilled its obligations. This, as I then claimed, would retain the players’ interest in the games and bring about better club football and comradeship, let alone improve the standard of Rugby as it certainly has done in the Waikato. I sincerely hope this Stag competition will continue, as I feel certain it will, and so receive much improved support from the public.—l am, TARANAKI-ITE Hamilton, Sept. 27. WAR FINANCE (To the Editor) Sir, —War finance reminds me of a certain remarkable issue of currency, the Bradbury Notes, used as money during the Great War of 1914-18. The Bank of England had no control over the amount of money in circulation and it had no relation to gold. After the war Britain surrendered the right to issue currency to a monopoly bank. Money, with the exception of metal coins, is valueless. Money merely has a use value. The State can finance all activities minus that added cost of interest charges. Money is not a commodity. Unlike a suit of clothe?. it y is costless to create. Money is merely an instrument of exchange; hence the community’s need for currency must not be subject to any control on the part of financial groups.

Hence war finance must not reflect another war debt, plus interest. The war can be fought and won on debtfree money. Regarding money cranks, I suggest Mr A. Warburton should peep into the mirror.—l am, etc.,

HARRY WOODRUFFE. Auckland, Sept. 26.