PROSPERITY PROPOSALS

New Zealand Herald, Volume LXX, Issue 21515, 12 June 1933, Page 13

PROSPERITY PROPOSALS

Sir, —Your correspondent, "5.R.H.," does not cavil at my suggestion to provide 30 millions in treasury notes in order to employ tho unemployed at reasonable wages and so bring money into free circulation and thereby restoring tho lost purchasing power in this country. He is, however, opposed to the suggestion that part of the redemption of the issued treasury notes should be made by a future generation. He is wrong in his assumption, that the present depression is tho natural cycle of good and bad times, as the present depression is unique and unprecedented, because it is world wide. In the memory of living man such has never occurred before. When there has been a depression in one country, there have been good times in other countries and that has helped and assisted to right tho depression in the country affected. I could quote numerous instances of that, but no doubt "S.It.H." has looked up this aspect of the matter before rushing into print. After all the main issue is to agree on the principle of how to raise tho necessary funds to eive practical expression to the plans espoused by our Mayor, Mr. W. G. Hutchison. The redemption can be arranged to suit tho majority. Every gencration-in the past has taken over the burdens of the previous generation, so why this outcry? H. Heimebs.