FINANCE.

Otago Daily Times, Issue 21148, 4 October 1930, Page 19

FINANCE.

TO THE EDITOR. ' Sm,— leader of the 26th ult., the n e ij P? _^ la^er on the Movement of Gold, and Mr Sivertsen’s letter of totlay i -? a J kc -, l ex . oel3ent wading, and I was feratmed that you should 'have stated, regard to the prevailing depression: More and more opinion- verges to-the -act that the most important single cause is the continued fall in the price level due so:largely to the increasing value of gold in terms of goods.” As Sir Josiah Stamp pujs it. - I do not hesitate to say-'that • ? in ßle evil of our time is the instability of the monetary unit a s a measure of - real values.” _/Mr. Sivertsen questions the reasoning of -n on certain points. , I trust the - mtfer will, .through your columns, give us the benefit of his expert knowledge, and thresh the subject oiit. I have been for n. long tune greatly . impressed by Mr Sivertsens determined contention that the instability of • the : monetary unit is tn e result, of financial manipulation on the part of bankers and financiers, and if t “ ls .could be proved, even in this little corner of the Empire, and if the-general public, even here, could be. shown that ‘ the mass of the people have been,' anti are being .{quite politely and nicely, of course, and-by gentlemen of. the highest , standing, and ability ) cheated and robbed, great good might ultimately result,—l mm etc;, . Ivon A. Bokton. • Palmerston, October 1. '