PUBLIC OPINION.

Waikato Times, Volume 114, Issue 19017, 7 August 1933, Page 9

PUBLIC OPINION.

As expressed by correspondents whose letters are welcome, but for whose views we have no responsibility. Correspondents must write in ink. DOUGLAS SOCIAL CREDIT. (To the Editor.) Sir, —I regret that the manners of the young lad “Douglas Junior" do not improve—he seeirts Incorrigible. If his eider brother, Douglas major, Is a prefect he should give him what he deserves. Of course the liabilities of banks (Including notes) are backed by their assets, of which gold is the most liquid and readily realisable part; and all other assets must be measured and valued In terms of gold or they cannot be valued at all —any more than Douglas Social Credit notes can be worded without using terms in gold. Certainly, I say, let an open inquiry into our monetary system be held. Let the truth be heard—there Is nothing so great. Let the publio be shown what an absolutely unpractical,’ if beautiful, delusion Douglas Social Credit Is. No one values and appreciates more than myself the services of majors, oapiains and colonels In the war. They did splendidly at the job for which they were qualified; but their advice on finance is about as useful as that of financiers on military manoeuvres.—l am, etc., E. EARLE VAILE. "Broadlands,” Rotorua, Aug. 3, 1933.

STANDARD OF RUGBY. (To the Editor.) Sir, —At present there seems to be general despair about the standard of Rugby which obtains in Hamilton, and the reason for such seems to be eagerly and earnestly sought. Might I suggest that the trouble ds very deep seated and creeps in very early in the careers of the boys. With only a couple of exceptions the primary school boys are badly equipped and very badly coached, and very frequently the refereeing is not all that could be desired. Now, Sir, when the lads move up into higher grades they gradually get worse until they become seniors, when we see them stroll on to the field in the most uninspiring fashion. Faded and odd jerseys, pants, stockings and boots with the previous Saturday’s mud still on, and very frequently the boots only half laced up. Now for the play, if you can call it play. Kick, kick, and kick again, is the order of the day; almost every player seems anxious to show how far he can kick; indeed, oftimes, they have kicked the ball 20 yards over the dead ball line. I refuse to believe that the talent Is not here In abundance and that there are not plenty of capable coaches to be had who will tell the sohool boys (for a start) to oease the punting and to handle the ball. . Then, and only then, can we hope to have-represen-tative teams to carry our colours creditably.—l am, etc.,

DON’T KICK. Hamilton, August 4, 1933.

BOWLING CONTROVERSY. (To the Editor.) Sir, —A complete reply to Mr R. N. Pllkington in vindication of the club I had the honour to represent at the S.A.B.C. annual meeting:— Copy.—“Mangapourl R.D., Tlrau, July 20, 1933. Mr G. S. Frost, secretary, S.A.B.C. Dear Sir, —In reply to your letter re our club’s delegate at the centre’s annual meeting: Mr J. Cooney, of Frankton Junction Club, was appointed to act as cur delegate in the absence of our own club’s delegates, at the S.A.B. Centre’s meetings, authority for same being recorded in the minutes of the Okoroire Bowling Club’s annual meeting last year. As Messrs C-arruth and Brown were belli unable to be present at the meeting I wired Mr Cooney authorising him to act as our delegate.—l am, yours faithfully. (Signed) L. Watkins, secretary, Okoroire Cowling Clun." Rule 4, Section 1, S.A.B.C. reads: “The delegates elected by the clubs affiliated to the centre shall ne members of the club which they represent, provided that any club situated more than 20 miles from Hamilton may appoint their delegate from any affiliated club, one member to act for such distant club; only three members of one club to be eligible to act as delegates for distant clubs; voting by such delegate to be on membership basis of club represented; no delegate to act for two clubs. Any delegate absent from three consecutive meetings without being excused by the executive shall forfeit his seat for the current year and his club will be requested to appoint another delegate in his stead-” —I am, eto., J. T. COONEY. Hamilton, August 4, 1933. ABUSE OF MONEY POWER. Sir, —Mr E. Valle’s reply under the heading “Douglas Social Credit” does not seem to be a very apt title, and I hasten to disclaim any knowledge of that subject, preferring to leave Mr Valle in the able hands of "Douglas Minor" and other writers. My letters have been written with the object of exposing present banking methods, with their Intimate bearing on our lamentable failure in present-day purchasing power.

Mr Vaile in his last letter speaks of a paltry deal made between the Bank of New Zealand and the Government, and characterises as folly the Government forgoing a revenue of £4 10s for the sake of saving £3 15s. I presume he is referring to my statement—viz., "That the bank paid the Government 3 per cent, for tiie right to issue notes, and the Government of that time borrowed £1,250,000 at 5£ per cent, interest." Might I point out to Mr Vaile that the 3 per cent, is not a recurring charge, while the good old New Zealand public will keep on paying interest at 5£ per cent, to the banks for more years than I can ever hope to see. This paltry deal covers millions borrowed in New Zealand for war and other purposes. Under a State banking system such profiteering would, at least, have been profits made for the people. I emphasise that the above Is one of the strongest reasons possible for a bank owned by the people and administered, not by politicians, but by a board removed from all suspicion of political influence.

Mr Vaile in further stating: “That people who cannot see that gold itself has no price but is the measure of the price of alt things else” forgets that it

Is the oommunlty who made gold of value by adopting It—owing to Its scarcity—as a medium of exchange; but Mr Vaile must bo conversant with the fact that in this country, owing to foreign demands on the metal, gold is no longer legal tender, and Mr Vaile and others have to accept a worthless piece of paper with the following words printed thereon: “On demand, we promise to pay 20s, etc. As long as the people are guaranteeing the note issue of this country the paper is of equal value with gold If a note Issue has a British guarantee at par, but with the removal of that guarantee it becomes worthless. The same applies to gold -if it becomes useless as a medium of exchange, and, as I suggested jocularly in a previous letter, becomes of no more value In a managed currency than the more plentiful and humble “brick.” As this is my last letter I thank you. Mr Editor, for your kindness in publishing same, and also Mr Vaile for his replies. In conclusion, I will repeat a story told by a Minister of the British House of Commons which I think lias a bearing on tho above: A visitor had arrived from Mars and got into conversation with a leading financier and asked him if everything was all right, lie was told people were not getting enough to eat, and some were actually starving. The Martian expressed his regret and wanted to know if the crops had been a failure, lie was told “No." lie was told that there was more food and goods than ever before, but the people had no money with which to buy them, lie then asked if there was a shortage of money, and was fold there was plenty: hut the people had none. Why not give them sufficient money to buy what they require?

he said. He %vas told business was not done that way here. ‘‘Well,” the Martian said, “we have lunatic asylums in Mars for unfortunates who lose their reason, but you do not require any asylums here as the whole lot are mad.!”—l am, etc., LEONARD HILL. Ilillorest, August 4, 1933.