Coalition Folly.

Star (Christchurch), Volume LXIV, Issue 927, 23 November 1933, Page 10

Coalition Folly.

Dear Sir, At the back of their minds I feel sure our rulers know they have made an appalling blunder in drastically reducing the purchasing power of the people and m that wicked pegging of the exchange rate to 25*per cent. And I am sure the Government is fearful of admitting that “er, for. by so doing they would prove themselves incompetents and muddlers par excellence. Public opinion has changed. The country is accelerating its own undoing. There will likely be a semblance of improvement at Christmas time, which is natural, but after the holidays the country may come to a standstill. This most fruitful land, the Creator's bounty to a young, virile nation, does not now give us a good and happy life. A dissolution of the Government is imperative. The Governor-General could dissolve Parliament if a national vote oi noconfidence was forthcoming, and that is possible. With public meetings in all our towns, and with a vote of no-confidence from all societies and associations praying that his Excellency dissolve Parliament immediately, fio self-respecting Government would stand against that. Everybody is short of money and wants a lot. Where is it all gone? It is mostly buried in the banks at fixed deposit, and all because confidence and security are lort. The country is in desperate straits for currency alone. The Government is itself after every bit of revenue it can annex. It is now to ask the Associated Banks to hand over their gold at the “ booked price.” This price is probably a half of its present price. Will the banks pass it over? Here is an interesting situation. Suppose the banks refuse? Money talks, and the holder can dictate. If the Government’s Bank Bill is in jeopardy they will have recourse to fall back on their Poultry Bill.—l am, etc., B. November 18.