"SELF-DOOMED."

Auckland Star, Volume LXVII, Issue 20, 24 January 1936, Page 5

"SELF-DOOMED."

ECONOMIC SYSTEM.

CANADIAN ON LOAN TRENDS.

REPUDIATION POSSIBILITY.

That social credit is "only a hope" as far as Canadian politics are concerned is the view of Mr. Robert J. Cromie, editor and owner of the Vancouver "Sun," who is a through passenger from Los Angeles to Sydney by the Monterey.

"You need not worry about a change not taking place in our economic scheme," he said this morning. '"Any system which creates a war and destroys seventeen million lives and the accumulated wealth of a century is selfdoomed. After visiting Russia, Germany and Italy during the last two years I am positive that vast social changes have to take place in the Americas and the Antipodes. Do we want that change to come about in a liberal, orderly way, or do we want it forced upon us?" he asked. In America, Australia and New Zealand the people were far advanced in thinking and could enjoy a higher standard of living than some other places without duressj and that was rightly so. "The Government of Alberta is committed to Douglas Credit," continued Mr. Cromie, "but so far it has been, able to do nothing because the other produces are not following the same policy. Taking Canada as a whole, however, it must be remembered that the Dominion did not take the steps three years ago j that New Zealand and other overseas countries took to adjust interest rates, with the result that we are still capitalisinc our deficits. This is true of the Dominion Parliament as well as the Parliaments of the provinces. Borrowing is being continued and no adjustnients being made. "We will have to follow your lead or repudiate," lie continued feelingly. "Wages of money are altogether out of proportion to wages of men and the price of products. Canada is rich in production; it has powerful markets, but the Government has been dilatory

in making financial adjustments. We are living in an era of plenty and any Government that does not make that plentitude available to the masses is doomed."

In his efforts to advance Canadian overseas trade and the interests of British Columbia, Mr. Cromie recently completed a world tour, when he made a study of conditions and comparisons in other lands with Canada.