BRETTON WOODS CONFERENCE

Gisborne Herald, Volume LXXII, Issue 21777, 28 July 1945, Page 6

BRETTON WOODS CONFERENCE

Sir -Tlii' Bn-Uim Woods Conference snyß .... accept. wild as Ihe standard for our ' v,-i—v -'his has been uu-difk-il by tbo ’Frisco ■ Conference to cover the intermtioii'il bnnkinu scheme which will take com! leie control of all small nations’ economic roiicy, depriving them of their freedom of choice of what they shall produce, consume, import or export. It is at this point that the so-called economists are in error, insisting as they do that there 13 something that money does (gold exchange) trap paper- money cannot do. Forced circulation of this sort of money though, its character may he disguised by one artifice or another. For instance, the money (gold) may not lie legal tender; hut all remedy at law may lie taken away from creditor nationals who refuse to aeccpt it. . . . Can paper money serve as the medium of exchange 7 There is no doubt about it—it can. Tai.-e tile United Stales “green-backs" of 1 St,; to Us7o; Hid not producers accept them roadilv in full payment for goods? Yes, with 'full assurance. Did men resort to barter to avoid this medium of exchange? No. Dili nun refuse to produce, or contract their production, lest they should have to accept those circulating notes. in pay--, meat for tin ir commodities? Again I say, no. The London Chamber of Commerce has uttered a protest and a warning against such a crime against immunity: and are the people going to take it lying down ? What is New Zealand's Parliament going to say about this? How many of the representatives of the people understand the meaning of a country's sovereign rights? And are they prepared to speak up for their country? Or are we to be bludgeoned into it by fascism of tile ramo type that we are fighting against for freedom ! —W. BRADSHAW.