NATIONAL DIVIDEND

Bay of Plenty Beacon, Volume 15, Issue 77, 2 August 1950, Page 4

NATIONAL DIVIDEND

Sir, —At the present time inflation here in New Zealand is only a reflection from other parts of the (the international banker) world. So we must ask ourselves why we should be subject to inflation and deflation. The real cause of all our troubles is dollar control, this being so we want another Sir Denison Miller. Governor of the Commonwealth Bank from 1911 to 1923; during that time he held control of the bank on behalf of the people and .they prospered exceedingly. Sir benison' Miller died in June, 1923. The following Government (Bruce Page) was weak and handed over the peoples credit to the private bankers once more. (For reference see Australia’s Government Bank 1921 p 275, by L. C. Jauncy Ph.D. Also Treasurer Spender’s speech Hansard 21/9/39). If as Mr Holland states, the Bank of New Zealand is owned by the people? Then let it be governed by a national authority for delivery of those pieces of paper currency, for exchange for goods and services; being an internal trading account, the profits would be returned as a national dividend in reduction of costs (taxation). We being a single unit (i.e. a Dominion) and can free this country from economic pressure; inflation or deflation! Booms and slumps! Poverty midst plenty; And remove the terror of want Denison Miller did all this! But he was not a bureaucrat. Yours etc., 'W. BRADSHAW. Whakatane, July 29.