LABOUR ECONOMICS

Press, Volume LXXI, Issue 21580, 17 September 1935, Page 9

LABOUR ECONOMICS

10 THE IDITOI OV THE PKtSS. Sir, —In accepting the courtesy you offer in giving me an opportunity to write on the above subject again, I would like to tell "J.M.W." that I am in full agreement with the policy he suggested at the end of his letter: the policy of price fixing. Price fixing and control is a sound and powerful policy. If carried out thoroughly and prices are fixed fairly well up instead of down, it will make for the general material benefit and at the same time be a good pyschological move. I am of the opinion that all downward trends have a bad pyschological influence. What is more, this policy would necessitate the introduction of certain monetary reforms that are dear to certain of your correspondents. It is pleasing to see that the leader of the Opposition incorporates price fixing in the Labour plan. His 12 points published in "The Press" on September 10 were a model of conciseness, lucidity and soundness. I hope the clergy had these points in mind at their Auckland meeting. The clergy as a class get good mathematical training and if they give their mind to the study of economics and the Labour plan, they will realise that Labour is offering the Christian social conditions the church so desires. When there is not sufficient money to facilitate the full necessary business it is obvious that the race will be to the swift and those who are "slimmest" will get through. As the other correspondents have confined their attack on Mr Bray and so necessitate a reply from him, I will not bore your readers by contesting their points. I was disappointed in not getting from "J.M.W." a full exposition of the various sources of money supply with special reference to those that are free of the charge of interest and the agreement to pay back. I would recommend this part of the subject to the clergy for consideration. However, if a future opportunity occurs I will put the question again. Perhaps some good-natured fatherly banker will enlighten my darkness.— Yours, etc., KAYE HOE. September 16, 1935. [This correspondence is now closed.— Ed.. "The Press."]