ASSISTANCE FOR FARMERS.

Evening Star, Issue 21957, 18 February 1935, Page 12

ASSISTANCE FOR FARMERS.

TO THE EDITOR, Sir,—There has been much criticism of Mr Coates’s Farm Mortgage Finance scheme by the Chambers of Commerce and others. Mr Coates is doing his best to assist farmers, but he is losing sight of the fact that if the people of the cities and towns had the money to buy the farmers’ products at a fixed price, which would give the farmer a fair return. the farmers’ troubles would be at an end. Mr Savage is quite right when he advocates price-fixing and creation of money, controlled by the Government. We must establish money control so that there would be no inflation similar to the German mess, which had no fixed prices and was uncontrolled. There are no recognised financial authorities of th© last six years that could stand up and say “ do what we tell you and wo will guarantee, world progress and employment for all.” No. each nation or diminion must work out its. own salvation. Its our Old World money system that bps grown thick with vices that are finally clogging its workings that has put us where we are to-day. What good is it to say the natural law of supply and demand enforces itself through the mechanism of prices? The people are demanding at the present time food and clothing all over the world, and tho business men could supply, but they wont. “ Why? ” Because the people haven’t got the, legal money wherewith to buy. Let the Governments of the dominion or nations initiate works, pay their people good wages, control both prices and money, and then progress, happiness, contentment will reign where before was poverty, dirt, and squalor. Then the world wi)l be a better place for all. Also create an International Money system which would have the same values all over the world for the exchange of merchandise. _ Mr Jenny’s statement, that intervention tends to make chronic the lack of equilibrium, which is the prime factor of a depression, is an absolute farce. It is the lack of State intervention that has not put a stop to gambling with money. What are our Stock Exchanges, but a gambling machine? Money was originally intended as an easy means of exchange, not for money to "make money by interest, and that is the curse we are paying for today. If w© are to get away from this poverty and degradation we must as a people control prices and money through our representatives in Parliament, and that in my opinion can only be done by each country having only one bank, and that the National State Bank of the dominion or nation. —I am, etc., „ Progress. February 18.