A SPENDING PROPOSAL
Sir,—“ECO” again harps on printing notes when over 90 per cent, of business is done by cheques, which are more convenient and equally effective. If the Government gave me a cheque for £lOOO I would bank it and draw cheques on my account when making payments. If “ECO” would take the trouble to find out he would find that there are more goods for sale than money to buy them. It is a fault in our money system (as used at present) which causes Inflation and slumps, except in times of war and afterwards, when goods are in short supply, and ft is only by the Government issuing fresh money that has not been included in the price of goods that a slump can be avoided. This money could be used to increase pensions and reduce taxation which in no way increases prices, or the number on notes. —Yours, etc.. AVOID A SLUMP. July 30, 1952.
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Bibliographic details
Press, Volume LXXXVIII, Issue 26797, 31 July 1952, Page 2
Word Count
159A SPENDING PROPOSAL Press, Volume LXXXVIII, Issue 26797, 31 July 1952, Page 2
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