PROSPERITY PLANS

Inangahua Times, 28 March 1934, Page 3

PROSPERITY PLANS

L OF LABOUR PARTY. MB SEMPLE IS ADDRESS. ; (United Press Asm.) HASTINGS, East Night. Taking “Labour prosperity plans’’ as his title, Mr B. Semple addressed some 400 people at Napier last night. Describing the present conditions, sTt- Semple said, it was a man made calamity engineered by a group of individuals, who had taken advantage of the rest of the people. He gave an - example of the improvements to machinery, which were continually displacing men, and though this power driven age would produce mountains of wealth, minieins starved. Though the problem of wealth production had "been solved, distribution was far from solved. Man must answer the' money problem, which was responsible for the trouble. To-day the Banks held in the hollow of their hands the destiny Of Nations, and the present Coalition Government had done everything on the advice of the bankers, pursuing a policy of reckless deflation to raise the price of money to the detriment of the country. When there was a control of currency, he said, the Labour Party would pin currency to a commodity index, that was, real wealth and the issue money according to wealth created by his volume of money would be measured and under such a system the money could be called a method of distribution by a scientific system of taxation.

Hoarding of money would be prevented beyond something to live for in the late days of one’s life.