CURRENCY REFORM.

Auckland Star, Volume LXIII, Issue 183, 4 August 1932, Page 5

CURRENCY REFORM.

MR. RUSHWORTH'S CAMPAIGN "NEW ZEALAND DRIFTING." (By Telegraph.—Own Correspondent.) PAPAROA, this day. Mr. H. M. Rushworth, M.P., addressed a large meeting yesterday on currency reform. Mr. Davidson, a member of the County Council, presided. Mr. Rushworth referred to the deplorable world conditions, with stagnation in trade and industry and in farming and professional life, and to the paradoxical position that in parts of the world there was a glut of commodities, while in others millions of people were starving. In some instances production was being checked, and valuable produce was even being destroyed, because prices were unpayable. He warned his audience that New Zealand, with other countries, was drifting to disaster, and it might be only a matter of a few months before the climax. The cause of the trouble could be traced to the existing monetary system.

A resolution was carried unanimously urging the Government to institute an immediate inquiry into the New Zealand monetary system and the possible alternatives to it, with a view to the restoration of trade and industry, and to enable New Zealand to meet its overseas obligations.