Dear Editor, You mention the name of Keynes in your recent editorial on the car industry in Birmingham, without any mention of his over-riding obsession, a competitive exchange rate.
Have you written anywhere that Neville Chamberlain brought about the collapse of sterling in 1931?
In 1931, Neville Chamberlain decided to reverse the 1929-31 Labour Government’s policy, left the Gold Standard so cutting the price of the pound sterling by 30 per cent.
Chamberlain headed unemployment downwards. That was just in time to save and expand British industry.
So Chamberlain above all saved Britain from being occupied by Adolf Hitler, as France was after it followed Labour’s policies.
Even in 1935, the Labour and Liberal Parties attacked the Conservatives for rearming, in the year before Hitler bombed the Spanish city of Guernica. Having an over-priced exchange rate is to debauch your currency. In 1925-35, my father ran C. L. Moore & Co. Ltd, Manufacturing Jewellers of 38-40 Hylton Street, off Vyse Street. Now my father never had to cut wages or lay off workers, though many of his rivals did.
Although jewellery at that time had no threats from rivals overseas, and the gold and diamonds he used would be said by our so-called economists today to suffer from costs of devaluation, my father stated without hesitation that after 1931, even for him: “things got a lot easier.”
It is Gordon Brown’s, and also the Conservative and LibDem’s, exchange rate policies that have damaged Britain’s industries and deprived them of cash.
Now, when they have a better chance because of the lower exchange rate, Brown threatens to bankrupt them.
Michael Moore Marple, Stockport
Armed forces deserve credit too
Dear Editor, I admire Chris Hoy’s achievements and believe he has earned another gong in the New Year’s Honours for his dedication.
My issue with our system is how the likes of our Armed Forces personnel and veterans who could serve with loyalty and dedication for decades, keeping themselves at the peak of physical fitness, sent all over the world without any personal influence can leave the services without any official award or gong. They may not be in the public eye but it could be argued their contribution ensures Chris Hoy can live and train with security. Isn’t about time all our Armed Forces were given a gong? www.nationaldefencemedal.webs.com – says it all, I’m sure Sir Chris Hoy would agree.
Whitbred Road, Salisbury
Old fashioned way of payment could help to restore confidence
Dear Editor, May I offer a suggested method to improve supplier payments and unblock the current bank deadlock.
Why don’t we return to use “Bills of exchange” as a means of payment by companies in the current economic climate ?
The supplier would have an agreed total credit limit guaranteed by their bank.
The letter of credit would be issued by the buyer to the supplier as payment for goods and would have a fixed payment date (say 30 or 60 days ) and the Bill would be guaranteed by the bank in case of default.
The Bill could either be negotiated with another party (for a fee) or presented to the supplier’s bank to await the payment date .
This would not only guarantee payment but would help to restore confidence and unblock the system .
This was an old fashioned method of payment that worked well in its time and has been used in France until recently times .
House of Fraser’s ‘big mistake’ is banger out of order for Lashford’s
Dear Editor, I was dismayed to read in the Birmingham Post that House of Fraser have decided to stop selling Lashford’s sausages and have decided in favour of Jimmy’s Farm.
What a big mistake, here’s one customer that they’ve lost, Lashford sausage is the best and Jimmy’s Farm is nowhere near as good.
What is wrong with giving customers a choice?
Whenever I have been in the food hall in recent months there are very few customers and I would have thought it wise to keep hold of their regular shoppers with all the competition around. I shall just inquire around to see who sells Lashford sausage and shop there in future. Is it a sign of the times that not just loyalty, but quality counts for nothing these days?
House of Fraser would do well to ‘think on’.
If the food hall no longer sells the product I am interested in buying, I won’t bother to use the store at all because everything else they sell in their store can be bought from elsewhere.
‘Cheap tat’ from abroad now in most of the shops.