FINANCE SYSTEM.

Auckland Star, Volume LXIX, Issue 223, 20 September 1938, Page 13

FINANCE SYSTEM.

POLICY IN DOMINION.

STIMULATING PRODUCTION. CTALLS ON RESERVE BANK. (By Telegraph.—rress Association.) WELLINGTON, this day. In opening his election campaign in his own constituency in Lower Hutt Inst night tlio Minister of Finance, tlu> Hon. 'Walter Nash, speaking on currency and credit said that

money was no use whatever unless there were goods behind it, but money could stimulate tlie production of goods, and that was being done in the Dominion to-day by the way in which tin; (iovernnicnt was using the money system. All the money needed was being provided by the Government through the Reserve Bank. ""j on can go on doing that as long as you have goods to back it up," continued the Minister. "Not a penny we have spent on housing in the Dominion came from anywhere else than the Reserve Bank. If the workers in llioir turn go on producing the goods to back money up, we can go on, but if they do not produce the goods, then the whole tiling will collapse."

Mr. Nash dealt at length with income tax, and said the important feature was not what amount of a man's income was taken for taxation, but how much of his income was left for him. There was no lmrslmees associated with income tax in general.