MONETARY PROBLEMS

Press, Volume LXXI, Issue 21631, 15 November 1935, Page 8

MONETARY PROBLEMS

> •un'.-.ut --IT ' >. vsa. ' >;r. - \ :iw '■•:hckv> n-znz At v.;r-v ..'i -jjti i.'scussicn vK serm? y«irs' iuratjeo. -i bunlt At■euJ':, x:.'c, :: writ-j-'ij bad '"'Vr'noi the laucu£i« Sue sc».'jvf<vftac -ir.i'Qiiicus \:v::w. .•£ ' WiKi'as.'fjji A by Avit tAi; sai.'ii.s jo :ivc ccv.Ni"y -•'.•vc;:. Vh:;? - ; .••.•os.der I iJii. ijut * .•«.• -'oc je»:'r: vi'/v .•oiivjc'.tii "Xa."* H'.v' :e '"S-i'cc ' -,' c .\a- V'icii/as. >l\ -v. til y.-ur per- " iiM-l *ry Xii : i:rj. -.i:e piac*. :ity Jpccr:>.;r: ts V! /•> ;-oi. •?!>;£ vt:y jJjjeccrcn :c trie .A . ' as t*: •.:!>.» 'Aerx jtftsse absjciute scnsensa. Y-.-u caimot -r-aiw something -"ctt ,u A ::: ;t rneaxis -j.ii.y'.n.x:;; jt all. Titans a jit-edA; tier icoet:r i.:c, a Paxils .A'i.:.l >.: '"'.••eu-y I "" t ;«;u.'d ixrxiex .»:» !: .c: 1 :i .:A' A'ul 'vmlA? A '.he is At :i tAoi. ;":L. :J:' j0.;..;. ••; i :c.y :./ i-v----i'.x'L'.s :r ;ar. ;, i:a, ami :t t;:.e iai-'ii -.v":! the buirlts. ". .av; ■ as ai: J.iajrpxe yy.cu. trace trunsaouen. juic -a "•- i Aa xr. i:M.y;;s ...Ar'Mi: vi at.:e vcii; ;;!J:tuo Ar a trie :A'i:ey imc Pax; iyit-xms. A mils i';ccs x 3 :'-.t £ VJOl). ?. s:-;r\ v-i i;:d -v— "*js :::> < :i. Vfv ■;..!/ A ;i:>; •_;ci-i!iS4?c ii.'us v.:.:; a.?c .v. 7':ti :ax; f .•r-ic::s ;~scc ';•/ A. £ l-HJI! i.i>i 3 :.* A. i'. .s 'r*onsac":':R. "'V':;' ices "NVcc' -ry - • : ::;;o ' *.'V.:a: "fi.'-;.': Ms :>J •;.t iaj' ::.i ::a : ;ar:A ::<;c ?n;' n :<v:: Ticr-.c' T!?t;r"j .rf r l ' :r';C.;; • •>.- :an.i i ' jnc -i£j '.aniii ii: :c 3- *N-iCu' say* zia jiicKld icuw i ;£ ":;u ;a;nii arnciii:: ia :::u .*v<i!-ii"art. xrj "ur.•r«'is .-j! r-iac«.T>s ;x "T l iu "r-iss,' n;t :nu ,n:';c« ;r raiiau»TT!«jn r . vii: j:;:: i~.": ;r "Li>.! :ac r . 3. ~iit! iv<iv".rvv'ir. i".zs '■ is, n;i. n; -nt;n<;y T'le :;uiii iuc.rs 3 vch -htfjr '"uuii. bur. .bshus "he Tumuy V A^ r :ia"e irrvn i iisnncnon 'itirvetin i;ar. ami vn;cn ie-y>-!"'ir'ii«iei3S. t .s :iaur ami •r-iiniiieunr. ?. s T'ie. as 'M'jiiu" sa--. '.oan ;r n'Triruft, 3 .s :i ieor'.T »: "he :an.c. 3«t 'his iiar.ii-3:i:n ::;i> "he latur'i ami :r mcrsfi" _ 3 un: jr-mrmi i .can. a v-niiti -!av« cesn T'inaiurr'fd :c .xtm Sr-im :;!«} :anir» :r i iam:siTcr 5 "ncnT 7 ':av! -no-vi ::iai 3. ~he :v>>r-zvi-V'-T. it: Ticr.cy. ■htir'irVn--?. "he A*:--ineuowi jtaremunc :f the 3nui.;!a:nan;. ha- zicr.ic/ 'J i _': an s ; iiu'c 1 :. Thii •none:'' .s .asuau :i: A. .i<ri is i :ut is x :cr 'us '■Zu'r-ng .i<nv iaait -vfn -he jia:nr quints :i X.;* int lurrer. " -vomti 'ika "G rusu i :r-3an ;-nu. "V; ":ar r ; r "hi: rcuyiasistn. oi"> :usus "o "tin. In "hi; .-use ic<n"?. •hu -noney -ssuiiti. £ !•.)(!(). .a ;mia- -t: he -riitie ;i "hi; innci'j ;<:id met. inc; 3sui!cL inay jififnare n in niiuiinite tonjetir ar ;:;c:ran;XAs :i jnctis or .£ i- a :i.ni" jr -vor'tprs mti 3 'hwr ■?mr3l(iy»r. t :s ;een "har :he £.IOOO 'vjuici oe ssiied against "he Zi Mernb "bar "her™ ; .s ai*va'"s .impi'J muney hat Mill s v-.ns imi Vfairr r.:zhT. !>£<;ney "ht: atter jayi. :s a iiict ira-'va :nto 'he hrT.uar.an ox :'.;rn■nociines ar as -hat hnula:un r;quir';s.' T!iar .lay been -iur :sr:ence bei'or« and :he iepnes?=i';n. Y-jt. 'a i«car«; a r-auit 'vhien z:-.mes iboiiT iutcmat:caily and jprn'anecusi.y "he labour "arty •vnuid . vr-i'jh. Jks - T ar;daiK. a money system •vtiieh hus .iVji'-'-jd :o 3er:Gcr:cm "hr-juyh c'antur:«s. out -vhose peri'ictioxx •iiey ir r ; -ncapaoie rf innr-;c:ax:niZ. 1 cannot better ies:cr:be "his .""3:en. assuming "hat -he znid lbsur-lity ;n;i 'he jrermt? ;:::;nanii r ; Icr:on _ ar*! noDHrtitivfj. :iian n "iie vons ji "he :.'::ier"enc';'i. -jracricai. and iiHeernirjr -nan. Taiconer larirvxirhy x 'T.ir."ine*. r Terte'.'Tiy ;;ast:c. ' *hj ienrTJia:y nxianon. aa -her - ; s .iu nila:u!i ii;ssibiu i::ctiDt by "nai-ad-lisu ;e::aii£e "he lures ji"; ict 'sstxed "he iartu~u rij!i:r*;ms!nts :r :he .•ounrry init jeiotk s ."innsenteit 'jy an iyiuvaiwnt n .itmiu veaith. -vhxcii ,s ji-rter :han :otu. '—Tram. 'Kc. 'JS. 1£)35. "o tie JUITO a >3? "na iir.—-.Vx.r lttrtbuies "he :ail n '•Hue )i "he xas&r■"••; 3amc ;nar';s is -he vroni: :aase. Tlier"; s .10 ioubt hat vnen "he laooitr party bum >ut he ;iians t vil my them it the rate si i "~r, Mivv Zealand to £IOO rhi»:e iiave; tailen n -•aiue. md ;o. ;«rause the -jaDitai .loidini; u at: Seser"e Zanic has mne down "o "he ;::tc;ni li £".jno.\)oo: ind i the -yi'z\~ towmvarri :nnd if iver.tras trade :s Kit .tonned by tnanaiiement "he 3e3anK vtll become less md less inancail"- trrnnij. A'uai he latKiur party .-eplacas the !:::ra .fetv Seaiana iniTßney, ,'rr»ated 5" he lef.pr"; 3ank to -voric the '.ugh ;::cnan«j». ay subsidies to naintain x -irrca evei. lie 'brewery shams ii md he lambs it 17s -Id" "viil be v>r*U 57.S- -S-eriini? ind 1":; <i(t '"noCT'pjy Ihrv ,r,;ruanrt -Tionev 'vill 7ft 'aisert to "he .-aluo if iteriiiuj md ir he ;ame ims x tneoiai. 'ui;h Sew Zealand ir:cs vtll Pe ."namtamed.— Y air.t. ;Tc.. XAlfjl SCE. VZ. IUSS. 'i'fj :rm uditob JI? "?IFI ?BESB. in-. Alter vsadimj "he articles by 'Credit" and -ail that lias been -vntten n ,"nir •rumsnonuenea ooiuxnns abuui he .nunetaiT prouirai. "he conclusion thar str:l;es .an observer is that two tiunys xr-j irst oi ail necessary m : ieaiing vith this problem. The drat. ' is i ficugnition by "he upholder, o* tilings as they are "hat the jystem they ; upnold :s, like jveryhing >»ise in lii'e. ' capable jx being '.mpx'ived. Thisj rec'jjinition ;eems to ce gaming ground J m other countr2.es, though it ma made

mri. The fcoorm amm -mcessury ai a:ut the moimcary -filormurs muim: •-••-•■mr:..* -.::u-: "::o -vay; mu. aman:; - ;r. :.m:.- m 1: amoros I.!'"; aor •/•;>: moo jc l :, -!>;." Tray m ;a:ii ■:.: m--''j i I -x.uaam imo;i:: a. xr-;u::d -vort n mirKiaa :ua: he :i! "m '. mi.eo ':";!■: "he mmto havra 71:0':s:md in vo.ea jim'-v; :l.mv ':m:a s.r"; ;::r-ii:.i -ur'iv.: he Thai aiara Im'V'ivor. 'V'mr-' he *iu:;W xafor tram :raa:ur" 'nan:.'! joim".;ns voum :« -now: .1 i ;;irm;xr mar' v.-fra :ua m nil .11 "hem :aj=e. hmmui: ;i aera :em.a '.•jiumr.j xbo"e "in: me iniiw'iv: marica. "hiJT'f "vouid J** armfea aaoim heiow the line;; a;e>vam losses -v.iicn 'lac .11 r.Lir.7 :a:;.:s icoiiaf.: ni •■;; Mr—; vuc:: !U<: mm: mniider'fu mora ami: lmrne 11 aorrrau mara. :mrmu~m, v'liuut vamai >mv laaama ■••jiii ;r i Irao'aa: >x "hem mmac-mor:;: e*v ramiai - o:-:t md low vmms "imf** ■nuns u**j lew mapioyoa "' .Vledirarmman .xar.ent; :o hie:: ma-mess train 3im:m ai.rmirm. That m'a« m linear, on )i viar t mean;; a.i aufer _:n a arum ieorafaaon. T"ie :;;n:i ; ; mailta ar r ; viar ho "miT. h am rammm:"' :i"mam 'ho mm:2 :n 'm—mom lor am :i wi'Tiii ames "im ;am;a aa'm mm ammemm n .1 rate ;r;a -v.ee aa moat 1:; '.huv mm :- "vaahm :or.>.:::i"m. ma .sr 'he ;ams ame am hanoa ia- T a miit an rffmrve;; fauai to -heir oriinnai :nai"™ :at;nai. hi spits ;i am wans;:un "ht;-.- in itill aai« "n Tay .ii-".-iends at 1 '."ite vriic:i mar.-' rumnu '.•ynL'Hms 'vnuiii 'iks "o m iaie "c; :tjny arm :he janiic :-?t:ar-"»s :a"-; aor men :c:uc:iea. ai "iiusa ::r , : , oinsTani , .'- , s. :c :=ay A hac ':im oanks :av(; '-;aifoi-:d" aj mer-iiy ~c ;imd aracdile ~anr-. ■:he Chamber rf ramrn.er r :n « aa itat;ru: "hat :he >T(j-v I.;aaai<: :ani:hijj j"';toit! .s "he -am e i- r hat jx C-r-iai 3r:tain. T!-;"r? :s. :rm bm iiffer-fne-j. The 'Si;? T^'i.' 'Viu ao "he jr-satesT }ranoiy:on ;i I.iuii.-a -;rauinu janii 'jui'mess. xr-f nl Znyiisti hanivs xnd :an trailed -v'thjn "heir rvn '•Mimir" iL -his :'.mntry ".her-f s miy .;rm rdnk jwied 11: d i;(jmui-y ax "his -.i-auntr;'' :h\iVi .s mi? ,-wned mii :ontr')imd :r-;m jixrsiim >ufv Zaaiand. iithcn/ih jcn:-.; ii "ixeir .jtiar'fs na" m n.-ict a: "ini; ynmtry. x iiTit itcfp :c '.n mnnr»f! r""tem. j .ai:h >i. "iiese "/ar'fian aames uionid m rarned nr.i 1 ienax™te > T e*v Lfaxan't ::::ni:urn. iwned xmi ::;nti-axle.a 'jy v leaxana ;nar-:iic..a". Then 'lie -vacm .a:: -.radinsz jamis :houid m .-nated ma -vo mould hen aa l7/ f ;ust :he ma raciintr Jauic -virh iil ts jranches n .1 anie .mine "he litHJi""; lank. Vlict. :t vouid m _,!«isabitf :o aavf aim amiorm hraxh:ni.{ miicy. '.V'tli 1 :amnerit: ,T f lauicmr :;"STem oanicnrn n\? aka amffn: ney aa'-.f "o la -vth "he noh. "Vien vaat "he 3ani-:j ::ul '':anririenoa" hut vaioii oauid m mtter "or~nori 'Tf-oauiaiiv-; :evßr'" s ibnm. inie.ss 1 sank '.ceens II "he ;-vm mrt r.aic ..iv.irmas. ir, onmneThor."; iff:: iil "he Taia helps "he mom m "o i iain{er,m.s ienijtii. T.itm vnen he onnm aur-ra. •ivfjry oanit stops xth'-incinq me lulls in ill ;t ;an. r-/'nt? o iheh' , 3 vhati>v • losses :iior.-» nay ae on .0 lomnonriy .jisft. Z-ftprr»s9inns u'T made ,n-----.n'uably iy 300 ms;. mrt vdh inly .he ■one 'iratiii 1 *' ink "her.T vouid .0 5 ::ar mtter iiancs rf a annm. Action in "he mnvn lines ihouiri • oommend :tr;eil "o die •jr'hodojc. The: 2n«jiisft jyr/r.em ; s hased anon .Tnntrnl ,11 3iii?ianri: .t aas xlko men 4iv»atiy: :rrreni|thenert oy imuit?amaTion. Aa 'he; Chamber of Commerce limia "he 2iuj-■; aan ly.Ttem ..<; one a: m hiiloweri. let. as in id'"or; md mt >n "he; abov» lines. — Toura. ;tc. ?HCGR2SSI T 7T2. Nijvismuer VJ. lU3S. ro THE 2DITOH W TH3 ?3».aSci. Sir.—Referring to the u-ricie hy 'Credit" in "The Press" oi Tuesday : it seemb' to me lie Ties again, xs ijafare. I to joniuse his readers. Now he .mjj-) iiests that the dislocation ;t our aco- : riomic life ;s caused oy the machine. I '.vhich \s juite mearrect. 'The machine I makes mortj and aetter xiyieies with; less labour, and if -ye eouid aniy '. ail 'he iirticies it makes '.ve 'vauld aot I mind in the least dvmg 1 fair share, to those "he machine has replaced. The demand of mods is mnstant.; The producing system arms very aara to supply a constant quantity <d joods

• jut iie niantir-r <rf surehasimr jnwer Tf money rJnctuaren. wrl ;n hrnvi lie '.vhole mechanism out. -if jear. rhe man .n lie street realises mora . frnm day :o lay hat thers .s »- 1 rhing 'tpjtt much -vranij villi -.lie administration if mr medium -ue t?i- . T )ur-. ere., G.C. November 111. L 935.