DEMAND FOR MONEY.

Auckland Star, Volume LXIV, Issue 241, 12 October 1933, Page 6

DEMAND FOR MONEY.

Alient 'Ur. Mullcnger's letter re the Central Bank in your issue of the 7th Inst., he. makes one or two statements (or perhaps I should say comparisons) that, to my mind, do not appear judicious, at least us arguments in favour of a Central Bank. For instance, he says, "An engine cannot run without oil. and a country cannot be run without money (mediums of exchange). ]f these counters are •deliberately reduced, as they were by the action of the banks, then the community lias to try to struggle along on less. . . ." In hit vocation as a mere teller I have at my call a. goodly stock ofi "counters' , to issue to the public, but they are not asking for them. The reason for this cannot be put down to any lack of them. Is not the economic and not +.ho monetary system .it fault? Perhaps the reason is akin to the reason why importers are not taking advantage of using the surplus millions in London at Xov Zealand's credit to buy with, which a. correspondent in your columns recently described as a ••wonderful" (or was it "glorious"?) opportunity. A comparison a bit strained, perhaps, but it is there. 'However, perhaps these thing 3 seem anomalies to me because I am a MERE TELLER.