CAPITAL

Te Awamutu Courier, Volume 64, Issue 4529, 28 January 1942, Page 8

CAPITAL

IN TERMS OF MONEY “Those who indulge in propaganda about capital seem always to think of it in terms of money. Whereas the last thing capital wants to be is money, for as money it is dead. They might almost be said to regard the stock or share certificates as the capital itself, when it is no more than a receipt for it. Capital is the whole framework or structure within which we live and work and seek a good life. It is, however, well to remember that the return on capital is the basis of all insurance, of all pensions and superannuation funds, of all reserves whether of industrial undertakings or trade unions, of all arrangements for security of one sort or another, which depends upon the provision of growing sums of money at some future date. It has become the groundwork of the social structure which cannot be cut out without causing its collapse. What we have to ensure is that capital works, and works hard. The obligation falls as much across it as across labour.”— Mr Frank Pick, recently DirectorGeneral of the British Ministry of Information, in “Paths to Peace.”