Letters to the Editor State ownership is frightening

When I read the article by James Borland in the Feb 9 issue of The Northern Miner, under the title “State ownership nothing to fear,” I not only became frightened but also got the feeling that I must be reading something for kindergarten class or perhaps grade 5-6 at the most.

He didn’t say what currency fluctuations he was referring to — those in 1758, or 1485, or 1126 or whatever — nor did he explain what happened in those times to the extractive industries or metals. And he didn’t explain how many were aware in the “growing awareness” group, three or 26 or 82, or perhaps just he and his visiting professor friend, Mr Radetski. I’m sure there can’t be too many who would come to the same conclusions he did.

As a matter of fact currency fluctuations aren’t the cause of anything — they are the result of something. They are the result of very bad monetary policies conducted within countries and between countries by people who make these types of decisions and in most cases these decisions are made in the interests of the few and against the better interests of the many.

It’s impossible here to go into details. The knowledge is available to anyone who is interested, with thousands of books and articles explaining why our currencies are in such sorry plight, and why they will get worse. The main point is that currency fluctuations are not, repeat not, the cause of our problems in the metals industry, or any other industry for that matter. They are only a result of some other malaise.

Now about that other thing, about State ownership, and presumably its stepchild, socialism. Socialism of any sort is to be feared, and greatly. Socialism has never and will never work, over time, to the benefit of the average working man. It binds him and prevents him reaching his own personal greatness, whatever that might be. The more extreme cases of socialized societies are more like prison camps, with walls, guards and small ruling elites. The real fear is that a thinking trend toward socialism could sweep us all back into history, into those difficult periods we finally escaped from in 1786. Clarence R. Taylor Penfield, N.Y.