MONETARY SYSTEM.

Waikato Times, Volume 112, Issue 18807, 1 December 1932, Page 9

MONETARY SYSTEM.

(To the Editor.) Sir, —Failure by the Government to institute an open and impartial inquiry into, the very obvious defects of the present monetary system is oauslng alarm and uneasiness in the rninds of those who believe that the only possible remedy for our economic ills-lies In the complete reformation of the currency system. Lack of Interest by Government members becomes increasingly Intolerable. Recently a Bill sponsored by a private member, dealing with currency reform, came before Parliament, but the Government would not bite, and the Bill met Its fate, Captain H. M. RushwOrth, M.P., at the conclusion of a memorable speech, made the following observations; “As an alternative to the serious consideration of this great subject we have the prospect of a continuation of suicides, bankruptcies, and the disintegration of our national life. We have that going on week after week. Businesses are destroyed, many of® which can never be rebuilt. Slowly, but with increasing speed, we are leaving a track of ruin behind us that it will he almost impossible for us to get over. We have the unemployed problem still defying solution-—ln fact, it is becoming more desperate every week. And we have not only the existing unemployed, we have tho rising generation coming on; and I suggest to members of the Government that posterity will describe their inactivity in the present situation as that which has produced the legion of the damned. Is it an exaggeration to describe the rising generation as the legion of the damned? Immediate action by those in power is all that oan prevent this terrible indictment. It is impossible to use language strong enough to describe tho urgency of the situation. The Government is not facing up to the situation, and so long as it leaves tills great problem untouohed it is failing In its duty to the nation. We arc fiddling while New Zealand is burning, and I want to make one more appeal to any Minister or any supporter of the Government to at least show some interest in the matter by doing their best to criticise this Bill.” I submit, Sir, that the responsibility of setting tilings right rests with the Government, and If the Government is master In Its own house it should act quickly and courageously. The people at least have a right to expect that.—l am, etc., WILLIAM BOYD. Matansi, November 29, 1932.