HURUNUI SEAT

Press, Volume XC, Issue 27500, 6 November 1954, Page 8

HURUNUI SEAT

SOCIAL CREDIT CANDIDATE MR CATE AT RANGIORA t "X? “¥ no . t A party.” said Mr W. £“ Cate, Social Credit Political League candidate lor the Hurunui electorate addressing a meeting of age, invalid! and other beneficiaries at Rangiora. “here is the National Party with its raiicus and big business behind it, and the Labour Party with its caucus and trades unions behind it—that is the political set-up today." He added that members of tne league would pledge royalty to the Dominion and the British Crown in Parliament, but otherwise would be free to vote acto their consciences. Mr Cate was accorded a sympathetic reception from an audience of 50 persons, and at the conclusion of his add«gs was given a vote of thanks Whenever anything new was suggested said Mr Cate, there were people who said it could not be done, just as .was said about flying at one time This was the position so far as the Social Credit movement was concerned. Matters were in bad way all over the world, and while many aid not know the cause of it, members of the league believed it was due ♦k ♦ xR r f.? ent .financial system, and that until the principles of social credit were adopted, the position would not be improved. The gap between purchasing n -ver and tne cost of goods, said Mr Cate, was one of the causes of the present gap had been discovered by Major C. H. Douglas some years ago. He learned that the distribution of income was never enough pay for production. He found in other businesses investigated by him that a similar position obtained. In New Zealand, said the candidate, figures disclosed by a Government showed that while £727,000,000 came from people's incomes. the value of goods produced amounted to £827,000,000, leaving a ga E 100,000,000. As there was not sufficient money available to buy these goods, stocks in consequence were built up in shops.

Purchasing Fewer ar A r- t * le e J* d of World war 11. said Mr Cate, there was little enough that one could purchase in shops: now, however, there was plenty, but there was not enough money available to purchase them. Under the present faulty monetary system, stocks accumulated and eventually there was a slump. This was a logical outcome of the system. The solution, he said, was tne adoption of social credit. No successful business could be carried on without a balance-sheet, said £ budget, such as was presented by the Government did not disclose enough to the people. This was one of the reforms which the league desired to see put into operation The league favoured the reduction of taxation because taxation assisted in keeping prices up. It aimed at increasing age, widows', and invalid benefits to bring them into line with existing high Hying costa. It aimed, also, at the abolition ox the means test, believing it to be unfair. It would also increase family benefits, would grant local bodies interest-free loans, and would assist young New Zealand industries by all possible means. It would get all the money it required to run the country through the Reserve Bank. Answering questions. Mr Cate said toat today more goods were being produced than could be consumed financially. If the necessary finances were forthcoming, the goods could be purchased. If, however, they could not be consumed, the result wa s a spiral of misery. By making finance available it was possible to avoid a slump. Asked what he would do to meet over-production of potatoes. Mr Cate said he believed they could all be consumed provided there was enough money about to buy them. He thought farmers should be paid a better price to induce them to grow wheat If however, sufficient could not be grown he would favour it being imported.