MONETARY COMMISSION’S REPORT

Press, Volume XCIII, Issue 27961, 7 May 1956, Page 3

MONETARY COMMISSION’S REPORT

Sir.—lf “Citizen” approves of the findings of the commission, he must therefore be happy to know that there would be widespread unemployment if the recommendations of the commission were put into effect. To restrict or stop loan finance for heme-building would have disastrous effects on the building industry. ‘Citizen” would have done well to examine the report thoroughly before rushing into print. In his haste to slate Social Credit he failed to notice certain portions unpalatable to the Labour Party’s taste. Mr Walsh is at variance with “Citizen” when it comes to agreeing that the commission did a good job. Social Credit has never been tried, and. like "Citizen.” I am not in a position to condemn or praise it. But surely it cannot be as crazy or vicious as this present monetary system, which can offer nothing but perpetual debt until doomsday.—Yours, etc., H.R.P. May 5, 1956.

Sir.—Frenzied efforts are being made to whitewash the discredited Social Credit case. Thus J. Higgins (May 2) paints a harrowing picture of Social Credit witnesses required to give “instant answers” to difficult questions framed at the leisure of the crossexaminers. On reading the commission's report, I find that the Social Credit witnesses were, in fact, given the opportunity to prepare written replies to points raised in the crossexamination—such as their fundamental differences with Mr Owen on Social Credit theory, the airy-fairy compilations of the “gap.” and so on It was not in snap answers to snap questions that the collapse of the Social Credit case was shown, but in the vast difference between the association's final considered submissions and the original case it presented to the commission—ilself a marked retreat from the 1954 election policy.—Yours, etc.. May 4, 1956. THEY’VE HAD IT. Sir, —“Citizen.” evidently a Labour supporter, is still croaking about “votesplitting.” Let him examine the results of the last two elections for the Lyttelton electorate and he will see something interesting. "Citizen” would do well to abandon that pale pink ghost of a once virile party and support a band of patriotic New Zealanders fighting for the fifth great freedom (not mentioned in the United Nations Charter!)—freedom from the shackles of money power!—Yours, etc., May 4, 1956. THE SEEING EYE.