PROSPERITY PROPOSALS.

Auckland Star, Volume LXIV, Issue 134, 9 June 1933, Page 6

PROSPERITY PROPOSALS.

I have read with great interest your leaders in Tuesday's and Wednesday's issues. It seems clear that the Press of New Zealand is united in the thought that something should he done to ameliorate present conditions as so admirably expressed by you, Every economist and financial expert on finance has admitted that the crux of all the hundreds of different plans evolved has been the restoration of the purchasing power of the people—in other words, the employment Of the unemployed at a wage which will enable them to live, to pay their rent and to purchase the necessities of life without being compelled to appeal to the charitable institutions. The only bone of contention has been the way in which the necessary funds could be raised- Advocates of inflation and deflation have been crossing swords with one another without coming to a practical result, and the whole question is in grave danger of raising a large controversial agitation in which the object to be achieved is becoming a secondary consideration. Referring to, the Mayor's, Mr. G. W. Hutchison, suggestion that the money required should bo raised by either a voluntary or a compulsory loan, which in certain quarters would meet with the strongest opposition, I-would Buggest the issue of thirty million pounds of Treasury notes, to be redeemable at the rate of six hundred thousand pounds per annum, There is no reason why the present generation should shoulder all the burden and by distributing tho repayment over fifty years everybody will be more inclined to sanction this scheme, which might be termed a temporary inflation. Let us come together and look at the issue with the will to provide something tangible instead of fighting for f- e success of the plans of every little coterie. Unity is strength, and if we all join up with our worthy Mayor, who deserves the greatest credit for having so ably espoused a scheme which is the result of earnest and careful deliberations of Auckland's leading business men, we will get results, . Divided we' are bound to fail. United we are sure' to succeed, and for this greater issue, it is essential that personal ambitions should be subordinated to the common weal of New Zealand. H. REIMERS.