THE PUBLIC CREDIT

New Zealand Herald, Volume LXXIII, Issue 22464, 7 July 1936, Page 13

THE PUBLIC CREDIT

Sir, —"The ability to deliver goods or services when, where and as required" —the Douglas definition of credit,

quoted by "E.N.D." —obviously depends on our men and women and the resources at their disposal. Just how calling our resources the public credit is going to make us any wealthier 1 am unable to see. Can " E.N.D." show us how the Government policy, with its 40hour week, is going to make our resources yield more than they now yield? Or can he show how our present yield is not now being used in entirety? Though L do not desire to quibble over words, 1 must point out that our men and women be'ong to themselves, not to the public, and that most of our resources also are private, not public, property. How, then, do they become the public credit? 1 must also say again that it is important to distinguish between the reputation, or standing with others, that may enable an individual or a community to obtain credit, or loaned goods or service, and the credit so obtained. It is those who ignore this distinction who can fairly bo accused of using words in a "slipshod" way. J. Johnstone Manurewa.