“COUNT YOUR BLESSINGS.”

Manawatu Standard, Volume LV, Issue 303, 20 November 1935, Page 8

“COUNT YOUR BLESSINGS.”

(To the Editor.)

Sir, —Your correspondent Mr A. F. McKenzie says he is naturally of a lethargic nature physically and mentally, and after reading his letter I quite agree as regards the mental lethargy. I know nothing of his physical condition. My letter has aroused him from his Rip Van Winkle condition and he admits feeling irritated at being disturbed. In the present instance I am not concerned about the poverty overseas, but about the poverty here. I am very much concerned because here of all countries in the world, there is no valid, cause for povertv. New Zealand is rich, the richest country in the world as regards the essentials of life-food clothing, she - ter. We are, or could be, entirely self-

supporting with food and shelter and almost self-supporting with clothing. Our surplus production of dairy produce, wool and meat, is much more than adequate to exchange for anything we require from overseas.' I ask again, therefore, why should there be any poverty in New Zealand. After flirting, as Mr McKenzie so politely puts it, with Douglas Social Credit, and after long and intensive study of the economic system, I agree with many Others that the cause is a faulty financial system. My friendly opponent, Mr McKenzie, can also prove this for himself by a little study. New Zealand was transformed from its state of primeval virginity by the co-ordinated energies of the people, and the people of New Zealand now produce all the wealth that is produced. It is but commonsense to say that, as the peoplo produce, they ought by right to be able to consume what they need, and the surplus to be exported in exchange for other goods which they do not themselves produce, but which they also need. That short concise statement enunciates the whole true meaning of trade and commerce.

The financial system is supposed to simplify this operation by providing a system of values to do away with the difficulties of barter, and to provide a means of distribution. Does it so operate? The present conditions show clearly that it does not. There it is faulty. Frior to the year 1694 Britain for hundreds of years had been engaged in wars of conquest or defence, in exploration, colonisation, etc., yet she had no national debt. In that year 1694 the Bank of England was formed, and immediately after debt started and has been growing continuously. To-day the national debt of Great Britain exceeds £8,000,000,000 (eight thousand million pounds) in 240 years. New Zealand has always produced enough to support her people and always had a surplus to export, quite enough to cover all she has ever received in exchange. During the past 50 years New Zealand has exported hundreds of millions of pounds worth of primary products and gold in excess of the goods she has received in exchange, yet New Zealand owes hundreds of millions of pounds and the debt keeps growing. Mr McKenzie says tut, tut. and refers to my arrant and blatant nonsense, because I think the system that does these things is wrong. I and a few other sensible people would like to have this wrong put right peacably by proper legislation. AA’e would like those experts who run the business to do their best to improve the system and all we say is, do it, or get out, and let others find a way.—l am, etc., AV. ARCHER. Palmerston North, Nov. 20, 1935.