CURRENCY REFORM.

Auckland Star, Volume LXIII, Issue 263, 5 November 1932, Page 2 (Supplement)

CURRENCY REFORM.

Commander Kenworthy, who, like many another Labour meirft)er of the House of Commons, suffered defeat last year, has since devoted much time to the central economic problem of our day— the paradox that the world has more material wealth than ever before, but millions of people live in His conclusions, which he has published under the title of "Our Daily Pay" (Search Publishing Company) are the familiar ones that all the world's troubles are due to the monetary system, and that the remedy lies in the issue by Governments of more currency. He finds faults in the proposals of other currency reformers, and himself favours the issue of "a national dividend, in instalments." He demonstrates with striking effect the disastrous results of fluctuations in the price of gold, and favours stabilising the currency on the basis of the wholesale price-index. In general, like most reformers, he tends to over-simplify the problem, and his solutions are so simple that they inspire mistrust —otherwise some such scheme would certainly have been adopted before now.