DOUGLAS PROPOSALS.

Evening Star, Issue 22383, 6 July 1936, Page 11

DOUGLAS PROPOSALS.

TO TBS EDITOR.

Sir, —I have no intention of being side-tracked by such letter? of Mr MacManus or “A.” Both these gentlemen accuse or infer that 1 support the starving of our people. “'A ” charges me with writing in support of the banks and resisting reforms to a system which is morally wrong. The columns of the Press of this town will show quite clearly my views and actions during the last 20 years. They will show that I was fighting to save life when many were helping—perhaps through ignorance—to take life. What [ am at present concerned with is to try to prevent people whom I believe to be sincere and honest from doing an injustice to their children through ignorance of our monetary system. If I can do that I shall be well paid for my trouble.

Just allow me once again to draw your correspondents back to the points .vhere I differ from them. They are:— (1) I contend that tho “ creating ” of new money and putting it into circulation by means of the national dividend would entail a further inflation of the currency. (2) It would be to the interest of Britain for us to do so and detrimental to the people of New Zealand. The reasons are that it would result in raising the internal price level of goods in New Zealand, and force down the price of our exports. In effect it would bo a further tax on the industries of New Zealand for the benefit of the British moneylenders. A? J. have dealt extensively with the different kinds of money, also the laws effecting the value of money during the last few months, I will ask your correspondents to outline how they would prevent the exploitation of the people by the raising of the exchange. If they are able to show by example how it can be done they will be conferring a benefit on humanity, for up to now no country has ever been able to inflate its legal tender issue without depreciating its value, with the exception of Britain. When this point is understood maybe the Douglas supporters will understand the dangers of the proposals they now advocate. Seeing that Mr Sherwood is again in the district, may I suggest to your correspondents that they endeavour to get him to answer the questions asked him on May 24 througn your columns? It will be a cheap and quick method of enlightening citizens on the Douglas proposals, and will be a far better method of getting supporters than the hiring of halls. The letters of your other correspondents call for no comment from me. If the” had read my letters they .would have seen that I had dealt with every point raised. As regard Mr Ken. Bennet’s statement that the monetarystandard is a fluctuating standard, he is in error. If he will read my letter of June 16 he will see that I dealt fully with that point. It is not the standard that has altered, but the number of “tickets” that have been issued against the standard.—l am, etc., G. M. Moss. July 4.