Page 9 Advertisements Column 2

Press, Volume XCVI, Issue 28435, 15 November 1957, Page 9

r_ No. II Inflation! What is it? What Causes it? Inflation is correctly "Too much money chasing too few goods" but there is not too few goods today." Today's inflation is "inflated prices" and prices are still rising. There are two main causes: Too much money and too much debt. The Monetary Commission's report states that including unused overdrafts the volume of money has risen from £77 million in 1939 to £417 million in 1955, an increase of 5| times. This IS because bank, never lend money, already in existence, but CREATE new money. The Monetary Commission’s report, page 239, says "When a trading bank grants an overdraft to a customer, the volume of bank money increases immediately." Here lies the source and cause of "Too much money." What about "Too much debt?" As illustrated above, money comes into existence as a debt, mainly a debt to industry, which must pay the interest and also repay the debt. Industry has no option but to add all this to the price off goods and so, as debt goes up, prices MUST go up. There can be no relief because there is no other source of money. Trading Banks NEVER lend existing money, they always create new additional money and debt. Under Social Credit, Trading banks will lend from the ,/ existing money supply. The volume of money will be stabilised. Debt will be halted. & 1 For DEBT & INFLATION: ' V ■ Vo,e NAT > ONAL o' LABOUR ‘Tib< Fo ** a stabilised £ and |£. ‘ reduced debt: ' VOTE BlTfh : SOCIAL CREDIT . ■*.. You have nothing to lose but debt. Have you forgotten that donation? It will help to WILFRID B. OWEN, ' hse *° Ur E ’ nnw.n Social Credit Leader and candidate N , eX I »J T BROADfor Lyttelton. CAST is MONDAY, 18th November.

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