Irrelevance

Press, Volume CII, Issue 30288, 14 November 1963, Page 16

Irrelevance

Social Credit supporters are again offering Alberta and British Columbia as shining examples for the New Zealand voters to follow. Tiresome though it may be, as often as they do so it is necessary to point out that whatever the achievements of these two Social Credit Governments they are not the result of any programme of monetary reform. The Federal Government is the sole authority controlling Canada’s monetary and credit system; and the first Social Credit Government in Alberta found itself powerless to introduce the “reforms” on which it was elected. This may have been fortunate for the Albertans, although it is possible that the enormous wealth that has since come to Alberta and, to a slightly less degree, to British Columbia—from the

discovery and exploitation of oil and natural gas would have been a powerful bulwark against the worst consequences of irresponsible monetary policies. New Zealand has no such bulwark. It is as irrelevant to offer Alberta and British Columbia as examples for the New Zealand voter as it would be irrelevant to advise them to accept the judgment of Canadian Federal voters. In spite of the “shining “examples” in their midst, Canadians resolutely refuse to elect Social Crediters to the Federal Parliament, where they would have the power, if in a majority, to tamper with the country’s monetary system. In fact, Social Credit parties in Canada do not campaign on programmes of monetary reform. They and the voters are well content with the orthodox system.