MONETARY REFORM.

Waikato Times, Volume 113, Issue 18929, 26 April 1933, Page 8

MONETARY REFORM.

OPEN INQUIRY URGED. Full support to a resolution from the Tauranga County Council urging the Government to conduct an Inquiry into the currency system was accorded by the Waipa County Council at its meeting on Monday. The clerk of the Tauranga Council requested the council’s support to the following resolution:—“The Tauranga County Council, while being appreciative of the measures already taken to reduce interest-and costs generally, yrges the Government to institute an Immediate exhaustive and open inquiry into -the matter of monetary reform, as a means to assist in improving the economic condition of the country.” Cr J. T. Johnson said he was far from satisfied that the present financial system of the country was suitable for its needs. He believed there was room l'or a better system and unless there was an immediate investigation the country would continue as at present with little or no improvement. They had reached a stage when theories and ideals now being put forward should he very closely examined. “If we oannot get a better money system than we have to-day then it does not say much for us,” he added. Cr F. L. Onion said currency reform was one of the most vital mat-' ters before the country to-day. On the one hand there was an abundance of goods and on the other hand abject poverty. The problem of production had been solved; it was the methods of distribution which had failed and only an up-to-date money system could rectify the position. All currency reform movements deserved support and their policies should be thoroughly examined. It was decided to support the Tauranga resolution.