Page 15 Advertisements Column 3

Taranaki Daily News, 25 November 1935, Page 15

WIPED our"HNIURANCI miCSES DRTROUD ->WAGEf WORTHIES! — THE Labour Party, if given the power, would wreck the banks and institutions to which you have " entrusted your savings. Their reckless experiments in “creating” credit would make all money worthless. Why waste time talking of wages, pensions, and spending power when your wages wouldn’t be worth the paper they are printed on? n - .■ ■ Labour’s talk about “using the public credit,” “issuing What Happened in Germany sufficient money to meet the needs of the nation, —A WARNING! and the promise to “print it and mint it” means only .. mnnAU . Before the inflation period in'Germany, I mark was worth about one shilling, one thing—worthless paper money. One mark’s worth of stamps would pay the postage on 8 to 10 letters. A hundred pounds would eventually be worth less ’ ' than a hundred pence, Savings Bank balances and > ? Insurance Policies would soon be wiped out. > r ’ ' THE N.Z. LABOUR PARTY IS FOLLOWING THE > g| YI J I iIS 11 Wol 'f LEAD OF THE NOTORIOUS J. T. LANG > J ’ < Mr. J. T. Lang said in New South Wales in 1933; ; ' “You must remember there are always first steps. { You must socialise credit first; other things will As the pr | ntsn g press wor ked, money declined in value. The stamps above show come later.” that before long it cost 400 marks (normally £2O) to post a letter. Day by day the cost increased. Mr. Savage says that the first step in complete ' socialisation is political control of banking. Political S f > \ Control of Currency and Credit must lead to un- S J ? ; limited printing-press-money. < \ It has happened before; Lang tried it and closed the < \ ; doors of the Government Savings Bank of New South 5 J ? * Wales—depositors offered their “savings” at 12/6 in ? ; the £. Germany went the whole way—money became L a bad ioke—a ham sandwich cost 14,000 marks one | n the second phase, money lost value so rapidly that over-printing of stamps took day, and 24,000 marks the next! People who were place daily. These stamps show a face-value of 100,000 to 400,000 marka. “millionaires” in paper money couldn’t buy a meal. fj 3 .J All savings and life insurances were destroyed. | The Labour Party would lead New Zealand along the ? ' same road. ' * e ? KEEP NEW ZEALAND FREE ;|||i|||| llHliib FROM UNLIMITED Within a few weeks it took millions of marks to buy a postage stamp. The last $4 O Il Ekll TE ©E&KCC” I?WS I— 'V stamp in this row has a face-value of 2 billion marks, and later the figure rose to 10 rRIN B billion marks (normally worth £500,000,000 sterling) for an ordinary postage stamp! This shows what can happen with Political Control of Currency and Credit. kFai B kl ib- F-1 ■ j 1 j k EIWh IU I V-l I "r <1