TAX ON MONEY

Feilding Star, Volume 11, Issue 4179, 28 February 1934, Page 8

TAX ON MONEY

NOT BEING CIRCULATED DYNAMIC SUGGESTION (Per Press Association). Wellington, February 28 A plan for dynamic currency system, “effectually and perpetuately actuated by demand,” was presented to the Parliamentary Monetary Committee by Mr R. H. Roberts, of Wellington. There should be a eurreney tax levied ]>eriodically 011 all credit accounts, notes and coin. For, lie said, if money could he always kept in circulation and never hoarded, borrowing would be unnecessary and usry obviated. In a foreward Mr Roberts said that, as soon as lie began to formulate liis plan, the necessity for State control of currency became obvious. A currency tax necessitated pensions to all above a certain age, and ail issue to tlie unemployed, and it appeared desirable that free State insurance against illness or accident should replace the insurance companies, which depended on the' investment market.