MINTING COINS

Waikato Times, Volume 110, Issue 18392, 28 July 1931, Page 7

MINTING COINS

MONEY FOR THE COUNTRY. MR WILKINSON’S SCHEME. ' (Special to Times.) NEW PLYMOUTH, Monday. "I want to tell you how to make money for the country," remarked Mr C. A. Wilkinson, M.P., at his political meeting at Normanby, “That can he done by minting coinage. In 20s worth of silver coin there are only two ounces of silver, the total cost of making the coins being not moro than 35.” The people owned the coinage, but did not get the advantage. There was £1,250,000 in it. The British Mint would mint at a rate of 3 per cent. New Zealand, which required the money, was the only Dominion that did not coin its own money.

1 Mr Wilkinson said that he placed his minting proposal before a banker, who said that the scheme looked so good that he felt there must be a “catch” in It. He did not know where It was, but would find out. A week later the banker said that he had not yet discovered it. A week later the bank was unable to find the “catch,” but considered that there would not be sufficient silver.

“Why,” said Mr Wilkinson, “silver Is so plentiful that they will soon be making frying pans out of it.” (Laughter.) Holding up a shilling, he said, “The silver in this is worth only 4d.” Asked if there was a gold backing to the silver coinage, Mr Wilkinson said that there was none, “if 1 can produce £1,000,000 from silver coinage. won't it lie something worth while’?” lie asked. “1 have offered you a proposition. Did the politicians who were here last week offer you anything'.’” A voire: “If you had a party you would get it." “1 am willing lo join a party any day when I sec that it stands for t lie people,” was Mr Wilkinson's rejoinder.