CURRENCY INFLATION.

Otago Daily Times, Issue 21053, 16 June 1930, Page 12

CURRENCY INFLATION.

■' TO THE EDITOR. . Sir,-— One sentence only in Mr Slvertseu's letter ‘ of' Thursday calls for comment. “The public is well aware," he says, “ that, no final conclusion on the question, has. yet been reached.” The answer-is, of course, that it is a . matter of impossibility for the public to be well aware of anything of the kind. A final conclusion was reached in the eighteenth century; and can claim a survival value of about 150 years. Moreover, in matters of this kind .we, as. reasonable beings, are uninfluenced by the windy insufficiencies of the kerbstone. We are driven to the forum where as a test of inflation it is found to be - axiomatic that a premium on gold and a fall in the foreign exchanges holds ■ the field, and so * strongly that a noted economist, dealing with this matter, declared that “this principle,is so universally admitted now, and so perfectly' evident, that there is no use in wasting more words to prove it," ; However, the east wind of authority plays, no part in Mr Sivertsen s activities, and I have no doubt whatever that the spectre of . inflation will still figure prominently ,in his demonology. —I am, etc., , Bbapburx. .