Depreciation Of Money
Sir,—Depreciation of money (the token) is inseparable from any system based on production for individual profit rather than communal use. Its signal cause is the artificial valuing of land. Unreal valuations placed on land must be reflected in the cost to the consuming public of products obtained from it. Where private-profit motives interpose in the provision of buildings and other improvements the inflationary effect is exaggerated with each subsequent trade transaction. The greatest economic “cheat” perpetuated upon us as citizen-consumers was the repeal of the Land Sales Act which repeal, incidentally, has hurt most those it was presumed to assist—the farming community. Since then this economic brake on monetary depreciation has continued to fail us with increasing momentum towards what could become total loss of economic confidence.— Yours, etc., FRANCIS WM. HEAL. March 17, 1961. ‘
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Press, Volume C, Issue 29469, 22 March 1961, Page 8
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138Depreciation Of Money Press, Volume C, Issue 29469, 22 March 1961, Page 8
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