MONETARY COMMITTEE
FURTHER EVIDENCE HEARD
(raiss ASSOCIATION TELJtOKAM.) WELLINGTON, April 23. The contention that so long as there were non-monetary factors in the depression, a purely monetary solution would not be sufficient to restore economic and social equilibrium was made by Mr H. I. Forde in evidence today before the Monetary Committee. There was danger, he said, of monetary theorists diverting the public mind from the harder and more complicated solutions of the present difficulties. There were two ways out of the present situation. One was to allow the full play of economic forces, a policy of laissez faire, and the other was to adopt economic and social planning. The doctrine of laissez faire was a dangerous one, because it was too narrowly removed from anarchy. Conscious planning meant something more than messing about with a nebulous purchasing power and "costless credit." It was a question of controlling the whole of the economic activities, and it was the extent of the control that was the big question of the day.
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Press, Volume LXX, Issue 21147, 24 April 1934, Page 9
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170MONETARY COMMITTEE Press, Volume LXX, Issue 21147, 24 April 1934, Page 9
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