MR HOLLAND’S REVIEW

Press, Volume LXXXVI, Issue 26031, 7 February 1950, Page 8

MR HOLLAND’S REVIEW

Sir, —During the election leading Nationalists were positive there was a huge surplus of £47,000,000 hidden away in the public accounts, instead of the modest £2,600,000 surplus shown in the Labour Government’s Budget. Now they have found an equally imaginary large deficit in the accounts. Is this to be their excuse for jiot honouring their election promises? They promised lowe 1 * living costs, more for your money, an increase in real wages—and the cost of living has risen steadily. Their leader indignantly denied that thev would abolish subsidies, and already he is describing subsidies as pernicious. Why? They attacked Labour for controlling imports, and thev promised an increased flow of imported goods. they say we have been importing too much and the country cannot afford to go on doing it. They promised a new impetus to pubHc works. Now they say public works will have to be cut down.—Yours etc GEORGE J. BRADY. ” February 6, 1950.

Sir,—ln pondering over the involved array of figures, statements, and implications in Mr Holland’s review, the thought remains that Mr Holland, while seeking to arouse fear and trembling among the people, becomes afraid of the effect so hastily adds that there is no undue cause for alarm. To restore his own- confidence he repeats the formula that the elected Government is equipped with the necessary corrective powers and determination. The review shows in clear relief M~ Holland’s sincere belief that money is not merely a medium of exchange, i.e figures in books and printed tokens of metal and paper, but a precious commodity that can be saved and become a spontaneous source of income. The_ logic of this idea would t> e . that if enough people saved sufficient in time no one would have to work or render service.—Yours, etc., F. H. ENGELBRECHT. Oxford, February 5. 1950.