INTERNATIONAL FINANCE.

Grey River Argus, 20 May 1943, Page 6

INTERNATIONAL FINANCE.

(To the Editor)

Sir, —“Elector” has just aired his views, in your columns, on International Finance. He takes the Hon. W. Nash to task for his remarks on this subject. He quotes a few lines of the published speech and seems highly indignant because Mr. Nash did not declare war on banks and bankers. In the first place it is reasonable to assume that Mr Nash said a great deal more than was reported in the press. I think we are safe in asserting that the paragraph quoted was taken l ’ from the context, of his; speech and this was done for the purpose of showing that the Minister has turned Conservative in his ideas of banking etc.

It is well to remember this is election year and anything that will tend to destroy the faith: of the people in the Government and its leaders will be given plenty of publicity. “Elector” appears to be an easy victim. Would “Elector” suggest that the Government take over the Banks at this stage? Does he not think that they have their hands full in conducting the war effort of this country, and does he think that International Finance controls the housing policy of the Government. Does International Finance dictate the policy o rationing goods and the savings campaign during the war? “Elector” quotes M. Blum and Ramsay MacDonald. Blum, also confessed that he was unable to help the-Spanish Republicans and Ramsay MacDonald blamed the Left Wing of the British Labour Movement for the defeat of the 1924 Labour Government. i • Evidently the Left Wing and International Finance were too solid for Ramsay. Lias “Elector” heard of Sir Henri Deterding? Sir Henri gave the Hitler Government one million pounds, the question is where did he get it—out of banking transactions or oil an,i armaments? I repeat, this is election year and plenty of people will be shaken by the things they will read and hear concerning the Government if they remember the slump and its atten- i dant miseries, and if thev remember the good things the Government has done, i.e., Social Security, 40-hour

week, housing policy etc., thev will vote at the coming election for the return of the present Government. In conclusion, can “Elector” answer' this question—what is money? I am, etc.. J. FINLAY.