CURRENCY REFORM

Hawera Star, Volume LI, 23 May 1932, Page 4

CURRENCY REFORM

AN OPEN LETTER. MR J. R. CORRIGAN’S SUGGESTION. In a letter addressed to the Editor of the “Star” and to the Hawera Chamber of Commerce, local bodies and the general public of Taranaki, Mr J. R. Corrigan writes as follows: — “I would like to publicly congratulate the “Star” for publishing in its Saturday issue an article written by Mr Arthur Kitson on the currency question and how it is affecting the economic position of the world generally. Mr Kitson in his article shows how the unfortunate economic position has been created. He also shows that a remedy can be found. “My reason for writing this is to ask the Chambers of local bodies and the public —are wo still going to sit still and not do anything to try and bring Mr Kitson’s plan into operation? I suggest, as the “'Star has brought the subject before the public, it is up to the Chambers of Commerce and local bodies, also the general oublic, to get behind the scheme and help this country out of its difficulties. “It is time that the public developed an opinion of its own on the subject ot currency, which will be the major questiou before the Ottawa Conference, and on which centres the whole problem of defeating the slump. Public opinion is slow to grapple with these big questions, but I believe that the Chambers of Commerce and other organisations would be doing a national duty if they discussed currency in the light of pre- .<■- sent day conditions and thus gave an incentive to the general public to think seriously upon the subject. The gold standard lias- served the world in the past, but it has outlived its usefulness, as Kitson, McKenna and other authorities have shown. The principal obstacle in the way of a study of currency reform is our fear of the word “inflation,” but public discussion, led by thoughtful men who know conditions as they exist to-day-, should help us to get rid of this bogey and at the same time offer ample protection against wild finance.”