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The Pamphlet Collection of Sir Robert Stout: Volume 73

Opposition to the Scheme

Opposition to the Scheme.

It may be expected that there will be some persons opposed to such a currency:—(1). Those who have accumulated money very likely will be. (2). Those who deal in money will be so. But the people who might oppose any such change are but a small fraction of the population. The people who need such a currency consist of the great body of the people—90 or 95 per cent, of the population; all those who earn their bread with the sweat of their brow, all those who depend for their living upon the exercise of their mental facilities, all those who have embarked their means in industries of any kind for production, such as our farmers, manufacturers and traders The success of such depends upon having financial facilities given to them. And the Imperial authorities can have no good ground for refusing to approve of the creation o[unclear: f] domestic currency for New Zealand when it is shown to be for the good of the Colony.

Something very much resembling what is now proposed is being demanded for the United Kingdom itself—an inconvertible paper current; for domestic purposes, the basis being British Consols.