Land Values and Currency

Dominion, Volume 25, Issue 223, 16 June 1932, Page 9

Land Values and Currency

Sir Values of all kinds have enjoyed a world-wide consistent rise for years, and without some counteracting check or control would rise,/ absurd figures What has stayed the advance. It the run of easy money continued and the i world could pour out loan money in--1 definitely, land values might reach a mil lion pounds per acre and the same vaiue per toot in cities. In my time in Hast ings I have witnessed land values rise from £2O to £2OO per acre. Easy money over-saturates our properties with value and in the process absorbs and licks up available currency or money. We cannot have it both ways; when we ge. it absorbed and fixed in values it inot in our pockets, and n should be apparent to the sane-minded that the fixing of too much money in high values is bound to create a short supply m currency, as a depleted currency becomes inoperative to the overloaded values one must be relative to the other, when it is not a levelling down is inevitable. The demand for currency does not necessarily grow with population; all 1 depends upon the height of prosperity ami assets values. The higher the, value the more liquid currency it takes to operate that high value. G ol <* brought into the money system only as ■1 measure of control over the standard of values. It was never intended to cover hose values; when it reaches to such i quantity it will be abandoned as useless for control of values. It is only when man abuses his monetary system that gold goes up in price against him. “old when stable in value is as true a measure or rule as any other measure Anv persistent disregard ot rismg gold v lues is a reflection upon man s intelligence Double the amount of god could not have saved us from trouble or tau"lit us our lesson; it could only nrolong our mad career, as the dance ivoiffil go on till we were short Remember nothing but a portage ; can teach us our lolly. Things coi _ wot be SO bad if all conformed to tm higher buying power ot the pound, but tlu> world's cities have their M Reprices which they protect to .the last ditch: this spells the farmers fnnein. ■uid the citv man is only just now renin in" thev must be his chief mourners. In spite of hHJlio plonsibD iogiCifrom stands in his own light. Some argue there is little difference between a high tariff and high exchange but there is all the most important one. City policy is surely drivin"- the world into a state of h<<l„e--ho"” asleep within a ball of spikes. Buying'credit at any cost in outside markets to save exchange on imports spells the secret of our downfall. Good business perhaps, but living at. the expose of the world's very foundations nnd fast eating out its supporting structure.-] am ' ete ” W. SISSON. Hastings, June IL ,