GENERAL ELECTION
Sir, —If your correspondent, “J.H.,” believes in a policy of full employment, as he appears to do, he must accept the recent currency manipulations, and New Zealand’s proposed dollar loan, as an essential, though unpalatable, part of that policy. The position should be viewed from tw» angles: (1) Britain is our best customer. but without a more favourable market for her exports, she would soon experience-widespread unemployment, with disastrous effects on New Zealand. (2) America cannot take sufficient of our goods to balance our imports from that country; and without the paper, wire. oil products, machinery, etc., obtainable only in the dollar area. 'we should soon have unemployment here. There are those, of course, who are more concerned with private profit than the general welfare of the country; and it would be a sad and sorrowful day for New Zealand if ever they gained control of the Treasury.—Yours, etc., DAD. October 10, 1949.
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Bibliographic details
Press, Volume LXXXV, Issue 25933, 13 October 1949, Page 2
Word Count
155GENERAL ELECTION Press, Volume LXXXV, Issue 25933, 13 October 1949, Page 2
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