I.M.F.
Sir, —We have read before Ralph S. Wheeler’s comments on Germany’s economic devastation due to the indiscriminate issues of money unrelated to available goods in 1919. After World War I New Zealand was to be a country fit for heroes to live in, but in 1921 an economic blizzard struck this fair land, and thousands of returned men who had married and invested all their back pay and gratuities in businesses and farms became bankrupt practically overnight. Again in the early 1930 s we experienced a prolonged slump, with 70.000 unemployed living on the proverbial smell of an oil rag for years. The country was then stuffed with goods but we had no money. Strange, is it not, that although the policies of the money-changers were in directly opposite relationship, the results (starvation) were the same in each country.—Yours, etc., DAVID NICHOLSON. May 20, 196 L
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Press, Volume C, Issue 29520, 23 May 1961, Page 3
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147I.M.F. Press, Volume C, Issue 29520, 23 May 1961, Page 3
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