STAMP SCRIP PLAN

Timaru Herald, Volume CXXXVII, Issue 19642, 9 November 1933, Page 9

STAMP SCRIP PLAN

PUBLIC MEETING TO BE HELD. A further meeting of the businessmen’s committee discussed the Stamp Scrip Plan on Tuesday night. Dr. Fea presided and there were present Councillors A. M. Paterson, P. B. Foote, H. J. Mathers and J. R. Hart, Messrs E. G. Cliffen, Jas. McLeod, J. A. Norrie, H. Clark, J. T. Hunt, G. H. Andrews, T. Rose, J. Drennan, F. G. Holland, Geo. Johnston, R. McKeefry, B. L. Blodorn, E. Porter, W. I. Tait, Rowland Watson, and H. B. Naylor (secretary). The chairman brought forward a proposal that the notes should be in 5/-, denomination instead of 10/-, and should bear 2d stamps and run for 32 weeks. The opinion was expressed that this idea would probably be an advantage. Councillor Foote explained the Borough Council’s position should it agree to be the issuing body, and pointed out that an empowering Act would be required. Councillor Paterson expressed the opinion that the scheme was worth a trial, and said it had been a success in places ■where up to 98 per cent, of the money in circulation had been scrip, whereas it was proposed that only 20 per cent, of scrip money be issued here compared with ordinary currency. He thought this by far the most economical method of assisting the unemployed. After a brisk discussion on the plan generally, it was thought that the idea should be brought before the public, and it was resolved on the motion of Mr G. H. Andrews that a public meeting be held, if possible, on November 23, and that all those present canvass those in their respective trades to ensure a good attendance. It was decided to invite Mr A. W. Free of Wellington, to visit Timaru and address the meeting. Mr Free has made a special study of the plan, and has made an adaptation of it for New Zealand’s requirements.