MR ASHWIN ON SOCIAL CREDIT
Sir, —F. H. Englebrecht writes that he declines to accept or ask for interest. In Ezekiel, 18-8, we read that he that hath not given forth upon usury, neither has taken “any increase,” shall surely live. In verse 13 of the same chapter we read that he that has done so shall surely die. When I was a lad I was told by my employer to put my money in the savings bank and it would grow while I slept. He did not realise, and neither did I till later, that it would also decrease in value as it grew. Interest is a cost; the higher the interest the higher prices must be. Therefore interest must be inflationary. Your correspondent, “Citizen,” in a previous letter, stated that Mr Savage “lifted New Zealand out of the slump.” He is wrong; Adolf Hitler was the man.—Yours, etc., E. B. MILES. March 3, 1955.
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Press, Volume XCI, Issue 27599, 4 March 1955, Page 7
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156MR ASHWIN ON SOCIAL CREDIT Press, Volume XCI, Issue 27599, 4 March 1955, Page 7
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