MR COBBE’S CRITICISMS.

Manawatu Standard, Volume LVII, Issue 194, 17 July 1937, Page 6

MR COBBE’S CRITICISMS.

(To the Editor.) Sir, —With reference to Hon. J. G. Cobbe’s Apiti speech, what a compliment to politicians this “nationalised bank” reference is, and to our intelligence and integrity, I agree, Air Cobbe, “it is a great mistake to think” those faithful and intrepid pioneers who made our fair land should give ub progeny capable of such political betrayal as to place party interests before community interests. IVlr Cobbe always attacks the Reserve Bank Amendment Act first. Labour recognised their first duty to the people was to save them from the money masters. It is to be regretted that all previous Governments had not the courage and knowledge to use their prerogative as a Sovereign State, which is to issue and control their own currency. This omission on the part of all previous Cabinets gave us our national (unpayable) debt of £289,000,000. If these millions are not the limit they are a fair start anyway. The note issue of £13,000,000 by the Reserve Bank is issued free and costs us farmers no extra interest taxation. It is issued against the country’s production credit, as it would he if we went to the London financial houses. Tire great difference is, they would charge us interest. They are a “small group” of financeinterests whose tentacles grip the world. I>o you prefer these men to our “small group of politicians,!’ elected by us the people, who now and will govern the issue and control out currency ?

Air Cobbe is a retired business man and as sucli can he suggest a more honest and competent way to handle our products than is done by the Primary Products Alarketing Act. AA’as not his Cabinet’s bungling during the course of the depression naked, unblushing, and unashamed capitalism? Ho sniffs danger in State control. “If we submit to the regulation of Socialism what about the future of the race”? Yes, what about it? II ndcr_ the past regime men and women stood in lines waiting for bread. Yes, afraid to look the world in the face. Population is de creasing at Home. Capitalism should certainly study tlie future of the race. “New Zealand was not built up by the talkers,” Air Co!)be says. Splendid, Oroua agrees. Labour always builds, sane, dignified and progressive. 79 Bills were built into our national file in Labour’s first session. All your party’s expressed bogeys about Labour have failed. Be honest now and admit- it.—l ain etc. ERNEST PETTY. Feilding, 17-7-37.

Portions of this letter have been excised.