STATE BANK.

Lyttelton Times, Volume LXXXII, Issue 10482, 20 October 1894, Page 3

STATE BANK.

TO THE EDITOR. Sib,—ln reply to Mr Newlyn’s last letter, I may tell him that I have no personal animosity towards him, although I certainly think that a State bank would be a very great deal better than any cheap money scheme. Mr Newlyn states that I have - not yet answered all his criticisms and mentions one, namely, what unit of exchange would I have in my barter note system. I was under the impression that I had replied to all hia criticisms with the exception of one which I asked him to be more explicit in. With regard to the unit of exchange, that is, I think, too much a matter of detail to go into while the matter is only in its theoretical stage. I have replied to his question re medium of exchange, and consider that the matter of what unit would be used can very wall be left until the details have to be gone into. I consider a cheap money scheme is only good in so far as it is better than a dear money one. And tho relative advantages between such a scheme and a State bank are immeasurably in favour of the latter, inasmuch as the latter includes all that there is in the former, and a great deal more. I trust that Mr Newlyn will be a State bankist himself yet, and that at no very distant date. I should like very much if a conference, public meeting, or something of that sort could be arranged, wherein the leaders in the matter of a State bank and their opponents could debate the matter in public.—l am, &c., D. NALEEIA.