LECTURE TO UNEMPLOYED.

Manawatu Standard, Volume LIII, Issue 63, 10 February 1933, Page 10

LECTURE TO UNEMPLOYED.

The usual weekly lecture of the Unemployed Workers’ Movement was held last Sunday evening, the subject beinn the exchange. In introducing the subject of his address, the speaker pointed out that exchange relation?, between exporting and importing countries were reaily quite simple if kept purely on a commodity, trading basis. But when subject to the effects of national debts, political bargainings, and financial hysteria then the problems of exchange took on the aspect of a jig-saw puzzle or worse. Proceeding, the speaker dealt with the effects of high exchange on wages and commodity prices, also the effects of inflation, deflation and the issue of fiduciary currency notes, citing the experiences of England and America. The speaker also dealt with, the cause of the present crisis, stating that it was unavoidable within tho framework of our present social system. He described the pegging of the exchange as being yet another effort of the Government to find a solution to its financial problems and, further, that if society was desirous of escape from its inherent social contradictions and their effects the necessity of scrapping the present social and economic system must be recognised.