SELF-EXTINGUISHING NOTES.

Southland Times, Issue 22013, 12 May 1933, Page 3

SELF-EXTINGUISHING NOTES.

To the Editor.

Sir,—l have read of late many letters in your columns suggesting the way out of this terrible depression, and I hope you will grant space to this-one if you think it is worth it. This scheme would immediately absorb all the unemployed in New Zealand without any cost to the Government and would indirectly help the producer as well. Say, for instance, the Government wanted to build a road or undertake some other such scheme and say the approximate cost is £50,000; the Government would print treasury notes to that value and these notes would be legal tender. If these notes were worth 10/-, the first man to receive these notes would be the contractor, and before passing them on he would be bound to affix a sixpenny stamp to each one. The labourer would do the same thing, and so on until this note became redeemable. I think under this scheme the Government could start plenty. of productive works, pay the working man better wages, thereby helping the man on the land and also reducing this terrible unemployment amongst us. Kindly give us your opinion on this through your columns.—l am, etc., NOW SLIMMER JIM.