THE STABILISATION OF CURRENCY
t'o the enrroH Sir,—That the standard measure of value, otherwise termed stabilisation of currency, is now in sight appears from - your correspondent G. Steel, with ' characteristic obscurantism assumes . this to mean death to the gold god. I submit that he is quite wrong. If it means anything at all it must mean a revaluation of gold to the inflated • price level of other commodities, which certain gold owners term devaluation, of the currency. Whit, then, fixes the ! price of gold o? the value of the pound sterling, the price of which is an indication of the labour value of gold in comparison with the labour values of ■ other commodities? The rush for gold by the financiers of all countries is a ; clear indication that the gold god is % neither dead nor dying, and his worshippers have still an army of priests who live on the labour of those who created him. I think I am using the term "created" in/its colloquial sense, i with apologies to Captain Berkeley. . The making of something out of nothing Is to me unthinkable.—l am etc., Measure of Value. Oct. 6.
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Otago Daily Times, Issue 23005, 7 October 1936, Page 14
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190THE STABILISATION OF CURRENCY Otago Daily Times, Issue 23005, 7 October 1936, Page 14
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