THE MONETARY SYSTEM.

Evening Star, Issue 22382, 4 July 1936, Page 21

THE MONETARY SYSTEM.

TO THE EDITOR. Sir, —Our Social Credit friends are doing as I did sonic time ago, providing Mr Moss with the opportunity to publish columns of his propaganda while ignoring their' own remarks as much as possible. That is not undesirable, inasmuch as tho restrained criticism from the Social Credit angle must impress the public with its truth and applicability much more forcibly than the defence of banking practice which Mr Moss tarnishes his record with. I have no intention of trying to make Mr Moss face the real issues or in further endeavours to get him away from his peculiar notions of what con«itutes value. The point I would make this: In Mr Moss’s letter of June 29 we find these words—“ I bold that whatever is morally wrong is economically unsound.” That should mean the last letter of Mr Moss in defence of the banks, for'not even your voluble 'correspondent can dispute that the present position, whereby millions oanndU

get either security or sufficiency, is “ morally wrong ” Whatever the remedy, it is absolutely indisputable that it is morally wrong for people to starve in tbo midst of plenty. It is also quite indisputable that the fault is one of distribution and not of production. The factor which causes the breakdown of distribution is, again indisputably lack of money. Now apart altogether from Social Credit, whether money has value in itself, or anything like that, we have this clear-cut issue .before us, that the system is defective because of a lack of mopey and that it is morally wrong that people must be in want in the midst of plenty. Last, but by no means least, wo have Mr Moss writing in defence of and resisting reforms to a system which is “ morally wrong.”— I am, etc., AJuly 3.