NO MONETARY PROBLEM
FINANCE AND ECONOMICS In a speech at tho annual social function of the New Zealand Bank Officers' Guild in Wellington, Mr. J. S. Barton, S.M., until recently chairman of the Napier Rehabilitation Commission, reforred to the necessity of endeavouring to adapt tho solutions adopted for the problems of other countries to the conditions ruling in this Country. Mr. Barton said he would liko to quote the following proposition put forward by a loading authority of the present day:—"Every financial transaction must bo preceded by an orthodox and proper economic transaction." That was a thing that was totally lost sight of. The problem of to-day was 99 per cent economic and not 1 per cent monetary. There was no monetary or currency problem in this country. What was needed was confidence and willingness to use our national income. There was currency onoygh to settle every difficulty, including that of borrowing. Every borrowing plan that was put forward was not a currency or monetary problem, but an economic one.
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New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 12
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170NO MONETARY PROBLEM New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 12
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