CURRENCY REFORM.

Auckland Star, Volume LXIV, Issue 150, 28 June 1933, Page 6

CURRENCY REFORM.

The cabled news Ilia t -the Government Statistician of New South Wales lias furnished, a report 011 the Douglas Social Credit system and thai lie describes it as utterly impracticable will not dismay the many thousands of intelligent and intellectual students of the economics of plenty and of the iinaneial reforms necessary to distiilmte leal wealth anion o ' those whose use of it alone makes possible the production of more real wealth. To say that a system rs impracticable is merely to assert that under existing condi--1 ions "it could not bo put into operation. No student of the new economics lias yet claimed that the principles of a scheme t'6 distribute all the "oods the community can produce can be put into operation under existing financial conditions. It is the existing conditions that prevent the community from enjoying its great real riches, or increasing them when "all appliances and means to boot" are at hand; and the N.S.W. Statistician lias not destroyed the faith of Douglasites by stating that the Douglas proposals are impracticable. Of course tliev are; and so were all other proposals that in former times could not be put into operation, because of the ignorance of' mankind. It is not long since it was utterly impracticable for employers to compete with other employers without the use of sweated labour under disgusting factory conditions, when children of tender years never saw God's sunlight; and we are not yet so enlightened that we believe it is a practical scheme to reduce the hours of human work; when machines are invented for that specific purpose; wo prefer instead Ito reduce the standard of life for a large and lincreasing part of our population. | W. J. GATENBY.