MONETARY SYSTEM

Nelson Evening Mail, Volume LXX, 3 October 1936, Page 4

MONETARY SYSTEM

(To The Editor) Sir, —“Fifty-Fifty’s” present “round” looks more like a rhomboid. However, back again from the world of fantasy to the land of fromage and finance! I did not expect “F-F” to take my island story seriously, because he has no imagination and doesn’t believe in fairies, so his “Tinka-beil” is dead. Without this spot of fairy light lie missed much he might have seen on this island of dreams. He reminds me of the slum child Sir Arthur Pearson sent away into the country. She found the milk there not to her liking because it always had a thick scum on the top which she had to skim off before she could drink it. “F-F” is equally ignorant, or he found the cream too rich. He only asks—- “ How long would the human race last if it relied on the fruits of the earth and took no part in their production?” He forgets we did not land the whole human race on this island and even yet he doesn’t know that the human race are as amply provided for as were our survivors. Millions take no part in production now, because “Production” does not require their aid, and “F-F” solves their problem by telling them they ~"iqt just quickly die, and not worry Geneva about it either. He then says: “In the natural kingdom, bare survival.is dependent on the avoidance of “foolish actions.” He often mentions these two words as being the cause of all man’s misfortunes and his own escape—though to err is human, j He considers machinery one of man’s j follies because he has said produc- j Lion must be prohibited. Man is guilty j of the foolish action of inventing ma- ! chines to steal his job. He does not i see the foolish action of denying j the people the product of the ma-1 chine. “We have too many things in our shop windows to tempt the money out of the pockets of the people.” He thinks it would be another foolish action to put more “cost-' less” money in the pockets of the people to buy these things. “Alan- , kind,” he says, “has done wondc-rs to- j wards freeing itself from its bitter j struggle, but we are not yet free.” 1 1 have told of all these wonders only to be ridiculous for burning up so much space and now “F-F” tries to put it over as something original. Wc are not yet free, simply because we are chained to a monetary system. That will not let us buy the freedom we have won, and I have said this before. I wonder “Fifty-Fifty” hasn’t read it.

“Only the fittest can stand the strain in the Struggle to survive!” What strain is he alluding to? This sort of thing would have read all right on a roll of papyrus in ancient times, but read in a newspaper today it ought to find a place in the “Believe-It-Or-Not.” I don’t know what particular “ism” teaches that “the remainder,” and what a remainder it is! “must just quietly die,” but if they are stuck for a title I could supply one. Whether selfishness is the child or the father of the objectionable side of our monetary system I don’t know and I know quite a lot about this system. To me, it looks as if “F-F” has been trying to say something deep, and got out of his depth. The selfishness allied to the monetary system is in those who control it. The things that were Ceasar’s are his no longer. The “broker’s” are in. Fortunately New Zealand has set, an example to the world and the “state” controls the currency. It remains to be seen if the Government are “just” stewards. “Figures, by the way, will prove anything,” says “F-F”. This is very much “by the way” because I have said that also, and with effects. They don’t prove much when "F-F” says he expects our 60,000 unemployed are included in the 100 millions.

He now agrees that the money wages of the world cannot possibly be sufficient for to live on, “but fortunately there are other things in the world besides wages. I wonder if he is referring },° back-yard cabbages. “F-F” is quite wrong again when he says I have made no bones about wishing to destroy the present system of society. I only wish to destroy what is at present destroying society, and this is the monetary system of living only by debt. I only took un this “fifty-fifty” debate because “F-F” threw stones at my “bottom dogs.” When he said “there never was, or never could be a fifty-fifty system,” I amused myself by showing him he was wrong. I said we must not be surprised if those ashore demanded a more equable distribution. On our island they did not eat equal quantities of the island’s production. As for answering “fairly and squarely,” this is a “fault” that has got me into a lot of trouble in this correspondence. I do it so “squarely” that I am told I do it “unfairly,” so to quote another great writer, I‘m “conflummoxed.” However, I am just as anxious to make the next throe rounds informative for the sake of the spectators. I had already decided if I was to be “put to sleep” during the nextthree rounds it would be by boredom.. My particular “ism” is the “new commer-

cialism” of the London Chamber of Commerce as described by the thrice elected President. He says: “Political disturbances have their roots in economic distress. Nations which are unable to distribute purchasing power to their people, through wages, will frequently be driven to external adventures as the only alternative to internal disorder. One of the basic problems facing the world to-day is to distribute purchasing power to men who are constantly displaced by machines. As men cease to earn wages they become unable to consume, so the machines which have displaced them will also presently cease to work, because the goods are not for long produced if the people have not the money to buy them. It is a vicious circle. This was said by a “Knight of the British Empire” when he addressed those present at the annual meeting of the L.C.C. on 9th June. He also said that “no trader can suggest that the present state in international affairs is anything but extremely disquieting.” I have said this long before 9th June, and been laughed at. “F-F” says if I wish him to be serious he can oblige. The time has come when his obligations should be met. It will soon be no laughing matter as the L.C.C. President has pointed out. I will say more about my “ism” later and include “Socialism.” Regarding Socialism I will just say this now. The rich have never been murdered. They have already committed suicide. —I am, etc., IKONA MALI. Nelson, 28th September.