WHAT IS IT?

Evening Post, Volume CXXXVI, Issue 73, 23 September 1943, Page 8

WHAT IS IT?

DEBT-FREE MONEY

.l':'MbfeV.ra^Qui'!-"deb'l:rfree;'inbney''-.:Was said -by tHe Minister■"■;of : Finance. (Mr. Nash) at • Waiwetu last, night/: As at Petone the previous night he said he did not know what debt-free, money >yas and he could not find anyone who could tell him what it. was.' He thought that;; the people who talked about debt-free money might imean that the Reserve: Bank; should give. credits or print so many notes and use them to pay Government accounts. But, ■ said: Mr. Nash, the holding of a, Reserve pank, note . for £ 1 by any person meant that the Reserve Bank owed' that person one pound's wor,th of goods and services,. It-could not mean, anything,else. .The £1 was a debt which Government of the country -\owe.d" to the holder of - the note. If the holder could not get the goods and services the note was worth nothing. The organisation which issued the note was responsible for providing the goods and services. "There is some'subtle, suggestion that somebody in some country overseas tells us what to do," said Mr. Nash, talking on finance. "I have never had instructions from anybody at any time. I would" not obey them if I did if they came from overseas."

a MR. JCYLE WITHDRAWS P.A. GHRISTCHURCH,, September 22. Mr. H. S. S. Kyle announces that, realising his candidature as an Independent in Riccarton would involve the dividing of votes opposed to Labour and would probably lead to Labour's advantage in the Riccarton electorate, he has decided to withdraw in favour of the National Party's official candidate, Mr. J. T. Watts. Mr. Kyle, therefore, has asked all his friends and supporters in- Riccarton not to vote in his favour on Saturday. Reference to Mr. Kyle's withdrawal from the campaign was made by the leader of the National Party (Mr.' S. G. Holland) during his address in the Opera House last night. "Mr. Kyle is so concerned for his country and so determined that; self 'must never be allowedl to stand in the way of the national interest that he has decided to withdraw from the contest, leaving Mr. Watts.a free field," said Mr. Holland. Mr. Kyle had given many years of worth-while service to the people of New Zealand, and now, in the interests of the nation, of progress, and of good government, rather than see the non-Labour vote divided, he was prepared to sacrifice self-interest and ask those who would have supported him to get behind the official National Party candidate. WELLINGTON WEST ' Spfaking at Kelburn last evening, Mrs. C..S. Stewart (Labour, Wellington West) stated that Labour's opponents were so hard put' to it and so insincere that they, had to resort to half truths and misrepresentation to bolster up their- case. "I stand for the truth," said the candidate. Labour had already done much for the people of this Dominion and would march on to greater heights. She was proud to have been able to play her part and would continue -to work for the betterment of- mankind. WELLINGTON NORTH In the Webb Street Methodist Hall, last night Mr. A. H. Carman, Independent., candidate, emphasised the need to place human needs supreme. To sacrifice human happiness and security on the altar of greed and selfishness ' was to run counter to the natural laws of this world. No matter how'much we might desire it, the; world could not go back to the old pre-war world, but the new world could also be a, terrifying one unless human needs were served first. "All social activities must be organised to that end, and our present industrial and financial systems will have to be drastically reformed to bring them into a correct relationship to human life so that they may serve man rather than enslaving him," he said. Different views were held as to how to achieve his purpose, and it was here that he differed from the other candidates and party representatives. That was why he was opposed to the method of regimentation and conscription, of regulations, and Orders in Council. The Government had controlled "men" rather than "things," whereas the best method was to secure the co-operation of the individual, so that the desired reform would be achieved with the good will of the people concerned. Young men were needed to build the new order of the future, and the best men to shape that new world were those who would have to live in it— that task could not safely be left to the old men who had their roots in the old order.