ANENT LOGIC.

Waikato Times, Volume 118, Issue 19763, 19 December 1935, Page 11

ANENT LOGIC.

(To the Editor.) Sir, —My thanks to Mr H. Clifford, especially for his last sentence: “Wo are dealing with currency reform, not with logic.” I always had a ■suspicion that the two tilings did not go together, but hardly expected such a frank admission.

The explanation why social credit was rejected by the British Labour •Part'y was interesting, but not convincing. It was contended that the experts at Home opposed social credit because it is “not socialistic.” Is that so? Apply the test to the last elections hero. Did the Labour candidates’-' oppose social credit on those grounds? Did not the advocatos of social credit concentrate on securing the return of our Socialists, for it'must bo remembered that in the policy of the Labour Party here is the purely socialistic aim, the nationalisation of the means of production, distribution and exchange? In Hamilton, I understand, a leader of the. social credit group was the Labour candidate. Does it not strike your correspondent as a little humorous that he should be so dogmatic about the future policy of the Bank of England? In a maze of unprecedented difficulties the Governor of that institution said frankly that he could not see his way out, but apparently it is as clear as daylight to critics in New Zealand, who probably have not the necessary data even to assess tho extent of the problems. Most people would be inclined to place greater weight on the statement of Professor Cassel, that the depression would have been short-, lived had other central banks adopted the policy of the Bank of England. Mr Clifford holds that most of- the socialistic, legislation at Home is the work of the Conservatives. Would he please give a few -particulars?—l am, etc., OXONV Rotorua, December 18.