THE WAGE ORDER

Press, Volume LXXXIX, Issue 27213, 3 December 1953, Page 3

THE WAGE ORDER

Sir,—lf your correspondent “Common Sense” used his a little more he would know that the City Council cannot absorb the increase in wages, simply because it is not a profit making concern and has no reserves to speak of. This cannot be said of many manufacturing businesses, which in a large number of cases are well able to absorb the increase, judging by the dividends they pay yearly to shareholders alone, and to do so with no increase in their charges. The sooner some of these. so-called businessmen can curb their greed and be content with a reasonable profit, the sooner will workers cease to apply for wage adjustments and the sooner we will have stability in our economic structure. —Yours, etc., GRAHAM THOMAS. December 2, 1953.

Sir, —ln reply to “Print Less and Euy More,” it is readily seen that he has never read the booklet “Social Credit versus Social Debt,” which is advertised in “The Press” every Monday. If he would study this before writing about “bliss through ignorance” he would not disclose his own ignorance in regard to money matters. He would find that the fundamental principle of social credit is an equation between money and goods, neither more nor less. He is unaware that there is never enough money distributed as purchasing power to buy the goods produced during any given period and is ignorant of the principle of social credit, by which goods are reduced in price, thus avoiding the very inflation of which he is so afraid, and which is taking place at the present time, despite Mr Holland’s nonuse of Reserve Bank money.—Yours, etc., F. W. STEVENS. December 2, 1953.