BALANCING THE BUDGET
Sir, —"G.J.8.” notes that we are "unable to assimilate his statement.” He is correct, we cannot do so, because that statement is not correct. A Budget is a statement of income and expenditure and nothing he can say alters that fact. To contradict this definition he has written a lot about money and goods; he also quotes the "more progressive intelligensia” as if their views are unquestionably more correct than those generally held —which he defines as “orthodox.” His views on money and debt have nothing to do with the definition of a Budget, and even if they had we cannot agree with him. All money is not created as a debt to a financial institution, it may be and is, on many occasions, a debt owing by a bank, not to a bank.—We are, etc., N.Z. WELFARE LEAGUE. Wellington, Aug. 13, 1936.
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Wanganui Chronicle, Volume 79, Issue 194, 15 August 1936, Page 8
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146BALANCING THE BUDGET Wanganui Chronicle, Volume 79, Issue 194, 15 August 1936, Page 8
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