ECONOMY OF N.Z.

Press, Volume XCVI, Issue 28447, 29 November 1957, Page 16

ECONOMY OF N.Z.

Call For Changed System “Unless you change the system, things will be exactly as they are,'” said Mr A. E. Collins, Social Credit candidate for Fendalton, to an audience of seven in the Rugby Street Methodist Hall last evening. “Everyone knows things are not what they should be, and they know we. are the only people with the answers.”

Any promises the National or Labour parties made were no more than promises of the things that belonged to the people; said Mr Collins. Increases in family benefits, or assisatnee to the aged, could only come through taxation or borrowing, either of which would result in price increases. The promises the Social Credit League were making to electors were from a different source, however, and would not result in any increase in prices.

There was a surplus of goods and produce all over the world, and a shortage of purchasing power, he said. “Our present system docs not work for man, it works against man. Goods and services are the only real wealth, and the only sources are God’s providence, and the ingenuity and labour of man.”

Financial wealth was an artificial thing, however, created and owned by the trading banks under a complete monopoly, said Mr Collins. The Monetary Commission had shown there was no reason why the Government could not create its own credit, “and that is just what we intend to do. Under a Social Credit Government, the financial wealth will only be a reflection of the true wealth, and will act only as a service to the people.