TRADING IN MONEY.
Ml". Oldham state* tlint money has been diverted from its original and proper function as a medium of exchange and lias itself become a commodity in commerce. Does he suggest that people have learnt to eat. clothe or shelter themselves with money, and if not. can he explain exactly in what way and to what extent money has ceased to be a convenient medium of exchange? People who are short of money have certainly borrowed and have asrreed to pay additional money in the form of interest to lenders in consideration of the accommodation and its attendant risk, but the contract is just the same as it was when barter was the order of the dav and people lent poods upon condition that the borrower returned poods of more value than those ho received, in consideration of the loan. Even the coinage portion of currency cannot become a commodity until it is melted and made into useful or ornamental articles. Mr. Oldham should bear in mind that the possession of money does not enable anyone to obtain interest unless he can find a willing borrower. AXOTIIER BARRISTER.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19360525.2.45.5
Bibliographic details
Auckland Star, Volume LXVII, Issue 122, 25 May 1936, Page 6
Word Count
190TRADING IN MONEY. Auckland Star, Volume LXVII, Issue 122, 25 May 1936, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in