CONTROL OF FINANCE.

Auckland Star, Volume LXIV, Issue 85, 11 April 1933, Page 14

CONTROL OF FINANCE.

On April 1 you published a column article by Dr. Georg Solmssen, president of .the German Association of Banks and Bankers. It contained this statement: "Such international institutions as the League of Nations and the Bank for International Settlements —which were created with a view to promoting this idea (economic internationalism) —have over and over again been debarred from properly functioning by the interference of politicians. Twenty-five million unemployed are the result." Ignoring the stupidity of the last sentence, let us consider that phrase "the interference of politicians." It can mean only one thing, in its context. It can mean only that Dr. Solmssen (and those associated with him) do not approve of "interference" by the elected representatives of the people in the affairs of the people. "A united front," he says, "must be formed by all those who protest against the contamination of our national economy by politics." The nation's representatives, instead of resigning control of the State to a supernational, self-appointed group of men, have dared to insist upon the maintenance of sovereign power. Are Governments to govern, then? Or are financiers? (That virtual control of financial arrangements has already been surrendered to the 8.1.5. only adds to the irony, and the insolence, of the criticism.) Frankly, lam surprised that you should publish such matter as this. Its implications are treasonable. A. R. D. FAIRBURN.