USEFULNESS OUTLIVED

Taranaki Daily News, 9 November 1935, Page 9

USEFULNESS OUTLIVED

DOMINION MONEY SYSTEM REFORM MAIN ELECTION ISSUE. STANDARD OF LIVING OF PEOPLE. CURRENCY SHOULD SERVE NEEDS. * By Telegraph—Press Association, Oamaru,' Last Night. The Leader of the Opposition, Mr. M. J. Savage, addressed a meeting in the Oamaru Opera House to-night attended by 700 electors. A vote of thanks in Mr. Savage and of confidence in the Labour Party was carried with enthusiasm. Mr. Savage said the main question facing the Dominion at present was one of monetary reform. Though it would be wrong to suggest that control of currency and credit was the only issue before the electors, it would be, wrong for people in responsible positions to try to hide the fact that the present monetary system had outlived its usefulness. With the aid of science and invention the Dominion was in a position to raise the standard of living of its people far above anything, that had ever been dreamed of in the most prosperous periods of the country’s history, provided, of course, that the purchasing power of the rank and file of the people was sufficient to enable them to purchase the equivalent of their production. Unless increasing production was reflected in the homes of the people in the form of increased leisure, in education and in the general welfare there was little inducement to, greater efforts to increase the country's wealth, The power of money was the greatest influence wielded to-day, and the time had come for thinking people to face the problem of control of credit and currency in order to make, the medium of exchange serve the needs of the people. Vested interests would spend thousands during the present campaign to mislead people and to maintain their power, but with a majority in Parliament Labour would face the issue and safeguard the people’s rights and savings.