The new monetary policy is highly Interesting to those who have watched Mr. Bennett's attitude to any radical In reducing the gold back-of the Canadian dollar there more money in circulation in the form of currency. It is a well known fact that there is plenty of money available now, but the fact that it is! credit money, and, therefore. in control of the banks, makes it dificult to start it moving, Paper money paid out in wages and in exchange for materials should act as a stimulus to" trade, even {f only temporarily, for at the outset It does not touch the banks at all.
The most amazing fact about the development is that Mr. Bennett, takes such delight in denying ¢hat inflation. For months he has been telling audiences how dangerous it would be for Canada to tamper with her currency, citing as a sad example Germany of some years back with her millions of worthless marks. Now that he has been won over by some economic advisers to a way of expanding the nation's money legally by controlled inflation—he has tuned to explaining how very different the resent step is from what he was warning us against. How far he might wander in the ways of national experimentation if he remains power for another term it is hard fo say. As long as there are ways of explaining a spade away as something more respectable than a spade—Just so long may we expect changes that, if spoken of bluntly, savour socialism or something just as danger-
Text read from the printed page and cleaned; old type leaves the occasional error.