INFLATION

Press, Volume LXXVI, Issue 23002, 23 April 1940, Page 14

INFLATION

TO THE BDITOB ,Of THE PRESS. . Sir,— May I suggest that public appreciation of your very interesting leading article “Wages and the Cost of Living” would be enhanced by a definition of the term “inflation.” ! For many years I have endeavoured to interest people in the possibilities of economic; improvement through a reform of the present financial system. The term “monetary reform,” like the terra is, unfortunately, capable of different interpretations, but to me it means in essence, ah alteration in policy affecting the issue and cancellation of money that is designed to reduce the overload Of debt and taxation. On the whole it can be said that the people who disagree with, these views do so in the belief that the present financial system is a bulwark against the evils of inflation and is responsible for the strength and prosperity of the, Empire. I am therefore grateful to "The Press” for pointing out that inflation can and does occur under the present financial, system, and I would like to add that not only is this so, but.i having: suffered the evils of inflation. the public are still left with an enormous burden of debt. —Yours, etc., D. C. DAVIE. April 22.:1?4Qu; ’.'.l