The Economy
Sir,—Mr Bitmead says that land is over-valued, criticises repeat of the Land Sales Act. and blames speculators. He forgets when mopey supply exceeds production value, as it now does, as even Labour admits that sort of thing always happens. When the Reserve Bank and the Bank of New Zealand were nationalised there were warnings that free-spending governments would find the issue of unwarranted moneys irresistible. These warnings were howled down by socialistminded demagogues. Mr Bitmead refers regretfully to the fact that farm produce prices are' down and seems to think that Labour might be our salvation. Labour, spearheaded by the Federation of Labour, brought in import control, established industries under its shelter, hit at British industries, causing unemployment in many, and is now bitterly complaining at the British desire to join the Common Market. Just how unreasonable can we be?— Yours, etc., V. WILKINSON. 2 R.D., Ashburton, May 26, 1961.
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Press, Volume C, Issue 29526, 30 May 1961, Page 3
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152The Economy Press, Volume C, Issue 29526, 30 May 1961, Page 3
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