INFLATION.
(To the Editor.) Sir, —In answer to your correspondent “Progress” on the subject, of “Costless Credit,” I wish to point out that the issue of credit for the purchase of goods is easy and is simply inflation of the national currency as this money is not recalled but left in circulation. Stabilisation of currency is quite another thing. _ During the war period credit was issued for the purchase of war material with the result that values rose and slumped again. Price fixation is an acknowledged failure and any attempt to stabilise currency -on commodity prices is doomed to failure, also, if your correspondent will peruse a booklet entitled “Interest and Usury” I think he will be convinced that the only means of stabilising currency is upon assets and not commodities. —Yours, etc., J. RAINFORTH.
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Bibliographic details
Manawatu Standard, Volume LIII, Issue 257, 27 September 1933, Page 2
Word Count
135INFLATION. Manawatu Standard, Volume LIII, Issue 257, 27 September 1933, Page 2
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