THE DOUGLAS OLAN

Press, Volume LXX, Issue 21146, 23 April 1934, Page 9

THE DOUGLAS OLAN

TO TIIK KIUTUIt OF THK I'ltrss.

Sir. In his letter to "The Pre.-.-,." "AAV.IS." claim-; that the farmers have no faith in social credit. This may 'apply lo some of the sheep men. who have received a good price for wool and stock, but even these men have to thank 'Nature for making a shortage and not any financial policy. And. it is but a few months since they did not know which way to turn for both credit and finance, which tact they have soon forgotten. With those depending on mil.; cheque.- it is a ditTerent matter. Many of them are in a very bad way. and i know some at least who think Major Douglas's plan worth a trial. What "A.W.8." or the banks and the public m general see in sueial credit to fear 1 fail to sec. Perhaps "A.W.n." will enlighten us further. Maybe, if lie changed places with some of the relief workers or cow spanker.-,, or even some of those peonle who depend on interest for a living. "A.W.8." would wake up to the lael that things in general are not what they ought to be. lie tells Ui that the Government created millions by borrowing in England, a mistake we are still paying lor and likely to continue for ever. As a matter of fact the Government ou;;ht never to have sone out of < his country to borrow what it had at the door. "AAV.P." say-- thai slock agents, merchants, and banks create credit for their eh'iits. Jt lie will give tin.- point, a little more study he will sec that the credit is in the main that of the client -, and that they often lojc all their share through some fall in prices over which they have no control, and are expected to make good even out of nothing.

"A.W.8." trols out the Hliu.it called confidence. It is a very thin one and needs much nursing, or perhaps whitewash would be more in line. Conficetiee is knowledge that any person will receive a profitable price lor his wares, no matter what lliat may be. 'J ue monetary position of the country is improving, thanks to tile drought, iii South Africa thai killed oil: a mere 10,000,000 .sheep. Probably a very rough winter here thai would kill a few million sheep and some thousands of cattle would also help: if not New Zealand, then some other country would benefit and have confidence in the luture. Nature can give some hard jolts with earthquakes, storms, anil fires, but no mutter so that it restores confidence somewhere.—Yours, etc..

A. BARRETT Leeston, April 20, 11)34.