MONEY AND GOODS

Evening Post, Volume CXX, Issue 10, 11 July 1935, Page 4

MONEY AND GOODS

LABOUR'S ADVOCACY

ADDRESS BY MR. SAVAGE

{By Telegraph—Press. Association.) -; . . PAHIATU.A, This Day. During the course of an address to a> ;large audience at Patiiatua last nJght, ■the Leader of the Opposition, Mr. M.: J. Savage, advocated a money system; jbased on goods services with control iby a national credit authority, whose iduty it would.be to provide credits iauthorised by Parliament, and adiminister the .money system on a properly stabilised basis. ' In .discussing the use of public icredit the opponents- of Labour had' made frequent reference to the danger ;of inflation unless control were -vested in private- banking corporations, but no objection had been made during the period-of deflation, which destroyed millions of pounds! worth of values :in farms, homes, and other forms of wealth. : •-.■•■ .

The present system of finance gave no Security to anyone. The time had come to make the incomes of rank-and-file people a true reflection of increasing production. Security against poverty during old age or invalidity should be provided in the form of universal superannuation. While tens of thousands of ablebodjed workers were either wholly unemployed or doing task work of third- or fourth*dass importance, a large section of the people v/ece getting less than 3 fair standard of Jiving. A vote of thanks to Mr. Savage was carried with enthusiasm.