GOLD AND CREDIT.

Grey River Argus, 27 April 1945, Page 6

GOLD AND CREDIT.

(To the Editor,) Sir In a previous letter in regard to the gold question, my remarks at one point were a little obscure Actually the indications aie that gold will be reinstated as a factor in foreign trade. This will not help to win the peace. The. international financier, on the basis of his bullion funds, must favour sound finance. Credit will be available to the solvent that is to those who do not need credit If we are to have prosperity and freedom from want, however crpfiit must be macle available to Ihose who do need It The proposed international money fund has a posing superstructure. A super stirre ture, however, is no better, than foundation. The facts show th at the products of a country can b- equitably distributed within by means of State credit. Similarl), the products of the world cr.n c q, ultadl Z H trihuted by State credit, the credit of a World State. Gold basically superfluous. A Worid State, while obviously in line with the growth of civilisation, has yet to be achieved. Even the ordeals of the past five years may not be sufficient to convince mankind of the need for the abolition of world anarchy. I am, tC g HAW Westport.