SOMETHING FOR NOTHING.

Waikato Times, Volume 116, Issue 19353, 5 September 1934, Page 9

SOMETHING FOR NOTHING.

(To the Editor.) Sir, —in common with many others, the writer has been reading the reported evidence of the company inquiry now proceeding here and in Australia. The alleged revelations have not greatly surprised me, since I have long expected a local if minor version of Hatry, Kreuger and Co., as a result of the plague of scrip-vending to which the credulous have - been subjected for several years. The thoughts of the writer have been greatly intrigued by the following passage. Mr Moynahan, in crossexamining, is credited with the following: “Like the Douglas credit system, it means that you were out to get something for nothing, at the expense of the public." Whereon the indignant witness hastened to deny anything so ultra-atrooious. Just who or what Mr Moynahan is I am not clear, but in selecting the Douglas movement he has displayed a symptom of the spleen which is rankling in the breasts of the moneymongers because of the continuous growth of th£ movement, which they can neither answer nor silence. Something for nothing, indeed! Would Mr Moynahan say that the £22,000,000 called overnight out of the void by the Reserve Bank was other than something for nothing? Mr Moynahan’s partisanship is rendering the inquiry fruitless. The only good it can do is to give a little further insight into the machinations of a system already marked down for an early and ignominious demise. —I am, etc., \ C. A. MAGNER. Te Kowhai, September 3, 1934. [We have made some excisions in the foregoing letter, as the writer’s comments too pointedly referred to matters still sub Judice. —Ed. W.T.]