LETTERS TO THE EDITOR

Press, Volume XCVI, Issue 28440, 21 November 1957, Page 3

LETTERS TO THE EDITOR

1. Letters sent to the Editor for printing must be written in ink on one side of the paper only, and writers must s6nd in their names and addresses in full, whether they wish these to be printed or not. 2. Writers must say clearly whether or not their letters are being or have been sent to other papers. 3. The Editor cannot return or keep any letter which for any reason is unsuitable for printing, nor can he acknowledge unsuitable letters, although this will be done where it seems to be needful, or enter into any correspondence. 4. Letters must not be of more than 150 words in length.

Fair Play.—Adds nothing to our report of the incident. I. —Pressure on space forbids. Catholic Elector.—Letters limited to 150 words. Weights and Measures.—No space for another correspondence on the subject just now. Unashamed.—The purpose of the articles is not to “convert” people but merely to inform them. Dim View.—A quibble. Surely there must be a limit to the justifiable investment in luxuries even in prosperous times. Essay.—The interest on the national debt goes, mainly, to New Zealanders who have saved money and are prepared to invest it in the development of the country. It is nonsense to’ say that this interest “has to be added to the cost of all goods and services in the country.” J. F. Rasmussen.—You have demonstrated that banks create credit, which did not need to be demonstrated. You have not demonstrated that banks, whether publicly or privately owned, can. without depreciating the currency, create a greater amount of credit, in relation to their deposits and reserves, than long experience of banking has shown to be prudent. Germany’s experience, after both world wars, is a warning against disregarding the principles of sound banking and credit policy,.