"DANGER OF INFLATION”
IO THE EDITOR
Sir,—Under the above heading in your issue of October. 31, our farming leader, Mr Mulholland, again stresses the great risk of inflation. Now I would ask Mr Mulholland what section of the community benefits first and last by a reasonable measure of inflation? Is it not the section that he is supposed to represent—the farmers, and by the name taken, ar'e they not the first to be hit by a policy of deflation? Was inflation the cause of the stark poverty of the recent slump years? Surely it has been proved beyond a shadow of doubt that deflation is the real culprit with its attendant evils of unemployment, low wages, costs and purchasing power. That is the time when people are driven to accept charity or go hungry and not when shop goods are reasonably dear. Can this be denied? So why in the name of common sense all this nonsense about the dread of inflation, especially from one who is supposed to represent the chief producers of consumers’ goods?—l am, etc., Frank Hood.
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Bibliographic details
Otago Daily Times, Issue 24448, 6 November 1940, Page 11
Word Count
180"DANGER OF INFLATION” Otago Daily Times, Issue 24448, 6 November 1940, Page 11
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