EASY MILLIONS

New Zealand Herald, Volume LXXIV, Issue 22695, 6 April 1937, Page 13

EASY MILLIONS

Sir, —My friend and neighbour, "Hobnail," ought to remember that when really great subjects are being discussed neighbourly feeling cannot be allowed to prevent us from uttering the truth. His theory that a transfer of £14,000,000 from 0110 class to another cannot create purchasing power may have been sound at one time, just as it may have been true in pioneering days that goods had to be produced before they could he consumed, but those who have studied the new economics, ,and who are familiar with the Labour uplift and similar matters, know that under modern conditions we must first provide the purchasing power and consumption after which production will naturally follow without perceptible effort. Purchasing power and consumption being derived chiefly from book entries the entire work is really quite simple. Certainly my horse, Bucephalus, in place of distending his vitals by browsing on pasture that has not vol been produced, and so by his consumption bringing an ample crop into existence, persists in the practice of grazing on pasture that has already been produced, and so allows his consumption to be limited by previous production, but this is merely horse sense and what connection could we expect to find between horse sense and the new econoo»«s 2 'Augustus Clodhopper.