"BACKING MONEY UP."

Auckland Star, Volume LXIX, Issue 224, 22 September 1938, Page 10

"BACKING MONEY UP."

Money spent on State housing, according to Mr. Nash, has all come from the Reserve Bank. "If workers in their tarn go on producing goods to buck money up, we can go on, but if they do not produce the goods then the whole thing will collapse." That is true, but it is not the whole truth. Usually, before a worker ean produce, some other person is required, with ideas, technical ability and command over capital, to provide the worker with the opportunity and equipment for production. If the xeeurity of capital is threatened, or if, because of increasing taxation and excessive labour restrictions, there is not a reasonable probability of investment in a business proving profitable, then that business will not be started, and some would-be workers will not be able to produce. At Minister of Finance, relying much on taxation derived from business, Mr. Nash should have pointed out that aspeef of the question. It is not sufficient to advise Che worker to work; it is necessary also to foster conditions in whieh tb» .worlt»»r ewe Jw» <t\wn work uiiicsrt, ot uetifwv ii*« 3Cate ia u> become the aole employer.