PLAN TO STABILISE MONEY

Taranaki Daily News, 18 February 1931, Page 7

PLAN TO STABILISE MONEY

AN EXPERIMENT ADVOCATED.

FARMERS AT NELSON UNANIMOUS

i Sy Telteraph.—Pre* Association. Nelson, Last Night.

A resolution urging that the Government should make an investigation of the money stabilisation plan of Professor Irving Fisher, as recommended by the New Zealand Board of trade, in its annual report of 1919, was adopted by the Nelson provincial executive of the Farmers* Union, following on an address by Mr. A. N. Field, of Okjwi Bay, Croixelies. ' , « ‘ 3 « Mr. Field quoted from the. Board of Trade’s report showing how in the im flationary period in 1919 all sorts of remedies were put forward, but no attention was paid to the mopey end—the real eeat of the trouble. The board had urged that Professor Fisher’e plan for stabilising money should be thoroughly gone iptd. The heed was just as great to-day. ; Mr. Field read a passage from a letter he had received from Professor Fisher, in which he expressed the opinion that it would be quite feasible for New Zealand to niit his stabilisation scheme into operation without reference to other countries, blit that it .would be better to get the whole Empire in at once. Undoubtedly it would be better, spid Mr. Field, but the best way to the rest in was to have a try-out here. From & prominent director of the Bank, of England Mr. Field had also received a letter, in which it was stated that while,London was against doing anything but fumble about looking for "old to recover some inherent stability, there was a possibility that objections might be waived in face of the emergency to the Dominion’s trying out the Fisher plan. . . If ever there was an emergency, said Mr. Field, they surely hid it with the Hawke’s Bay disaster on top of the slump. , , . ; The executive decided unanimously to support the request for examination of the Fisher plan and also to request the National Economic Committee about to sit in Wellington to hear Mr. Field.