THE GENERAL ELECTION

Press, Volume XC, Issue 27500, 6 November 1954, Page 3

THE GENERAL ELECTION

Sir,—lt must be obvious to social creditors that they will not get a member elected. They are sincere in their horror of our mounting aeot, and so is our Labour Party. In 1935 we bridged the gap between goods available and purchasing power of the people, and will do so again when that gap exists. We nationalised the Reserve Bank and took for the Government the priviledge of issuing any .credit needed. Now, by voting Social Credit, they are only helping the Nationalists to borrow more millions abroad, and pledge our security to the money lenders m America, Britain and Australia for another three years. Surely it must be apparent to any thinking social creditor that they are only helping to perpetuate the borrowing, by not giving their support to the only party which is in a position to stop it. —Your, etc., J. G. BARCLAY. November 5, 1954.

Sir, —In reply to Leslie B. Burnett, query as to why American bankers go bankrupt, I would explain that they lend credit. In fact, it is nothing but a gigantic confidence trick, the reason being that they thought that for every dollar of cash they had they could lend 10 dollars, as people did 90 per cent, of their business with cheques, and they were quite safe unless their clients lost confidence and demanded cash for their money, which was 90 per cent, entries in the banks’ ledgers. Then, of course, they did not have the cash to pay out and went bankruptThe same thing happened in England. Australia and New Zealand, where the governments stepped in and guaranteed full payment, thus reinstating confidence in the banks, which have ever since been creating and lending money to their respective governments at interest. This Interest is collected from the people in taxation.—Yours, etc., F. W. STEVENS. November 5, 1954. Sir, —“R.S.” has missed the most important plank in social credit, that of equation. Purchasing power will be kept on a level with the full consumption capacity of New Zealand. Production over and above cur capacity to consume will go to pay interest and repayment commitments on the national debt, instead of being paid by taxation. It takes England only six weeks to consume what we are able to send her annually, or only one-eighth of her requirements. Social credit welcomes questions, as it is irrefutable.—Yours, etc.. ISABEL LAMBTON. November 5, 1954. Sir, —A humble analysis of the political vapourings. National: the few take all they can from the many. Labour: second leg of the capitalist double. Social Credit: support Owen and don’t be owin’. All patches on the worn-out economic trousers of a dying, decadent and diabolical system. AH support the pitting of millions of workers against millions of workers in mass murder for redistribution of spheres of economic influence and in the interests of the few. Politics: the posterior on which many can sit except a man. Remedial suggestions: the people to buy from the present owners the means of production, distribution and ex change and then produce tor use, not profit. Education of workers in cooperation and in the theory of more Breduction8 reduction reduces cost of goods to lemselves. Hypodermics on borrowed money must eventually lead to chaos and only postpone interment.—Yours.

etc., wt MELVILLE B. MITCHELL. November 5, 1954. Sir,—“D.H.C.” writes of “politicalvacuums," with the major parties “living in the past.” In these days, when self-appointed and appointed sleuths aye watching and listening for utterances of progressive ideas and are ready to pounce and denounce such ideas as communism, parties • and people get wary. With McCarthyism and Petrov cases in countries, a wedge is thrown into the spinning-wheel of social evolution. Only a short while ago we m this country dared not speak on the waterside dispute. Even Mr Nash, a leader and a man of good repute, was denied a hall to speak wa J c h«i by police. It is to Mr Nash s credit that he toured New Zealand at that time and spoke to the p^2 pl 2t. ? lvin » them facts of the dispute that were otherwise withheld. It Yo^ete, thSt CaU “ S vacuun “— October 28, 1954. PROGRESS. Sir,—l wonder'ifThe workers of this country realise the hoax that is beinie Pom^i r T theln b £j he Social Credit! Political League. These people tell us tha, by the use of national credit they will relieve us of the necessity for paying the social security levy and (eventually) income tax. The abolition of the social security tex win relieve the average working man to the extent oflss to £1 a week (quite a riffief). The abolition of income tax will relieve the average working man (unless he is single) of nothing, for he won't have an income large enough to pay tax on. These two reliMs will give persons in receipt of £lOOO and upwards relief to the extent of £lOO to thousands of pounds. Think that over and think of the effect on prices. The benefit of 15s to £1 will soon disappear in higher prices.—Yours, etc, A.FJ>. Sir,—l listened to an address on social credit, and being inclined to make some money, I got a pot of into and a pen and made some entries in ura.? k ’a but T ™ thin # ha « happened yet. What do I do now? I have been misled. There must be some other thing necessary. I cannot ask the Labour or National parties, as they arts against social credit, nor .can I ask the Social Credit League as it is against! the pot of ink method. So I turn tat you for information. Should I keep! on with my pot of ink and boofi entries, or let it go and wait for the £5 a week and no tapes? What shall I do? What shall I do? The £5 al week may be only for a year, the "if 3 m the promise makes it so uncertain.—Yours, etc., WHOLLY GULLIBLE November 5. 1954.