Social Credit replies

Press, 19 November 1981, Page 20

Social Credit replies

The vice-president of the Social Credit Political League, Mr John A. Wright, has replied to the editorial “Trading in Fairyland” which appeared in “The Press" on Monday. Mr Wright writes: The editorial in "The Press" of November 16 contained some extremely sweeping and negative statements on the Social Credit Political League’s overseas trading and financial policies which seem to be based on a false assumption. Social Credit policy is based on making an analysis of the current position and setting a goal by way of a desirable result The policy is then worked out to solve the problem defined, and moving in a logical series of steps to the desired end. In broad terms, the reason for our “unthinkable and unworkable” policies is ' the anaysis of our present situation, where we live in one of the world’s wealthiest countries (top per capita in food production, fourth in energy potential) and yet cannot afford to give our people employment, houses and education. . In >a world desperate for food and energy, we cannot trade without going into debt, under our present system.

This leads to the sort of export subsidies we now have and the distortions and breakdowns in our economic system. Social Creditors tend to challenge the “sacred cows” of orthodox economics and, when told something cannot be done, ask “why not?" It is this attitude that has led to some of the greatest discoveries of our times. The economic policy, which “The Press” so decries, has been drawn up using methods that have been tried in various parts of the world, usually with great benefit and bringing them into one comprehensive policy. For example, Japan used low-interest money from her central banking system for the purchase of the best machinery around to give her businesses the competitive edge over their competitors. New Zealand has used 1 per cent “funny-money” for years to make our dairy industry efficient and viable. Britain has bought a container ship from Poland on the sort of “wool-for-ship” bilateral trade deal advocated by Social Credit. The two important items missed in the article were the league's advocacy of bilateral (or barter) type trading and our commitment to energy self-sufficiency. As these policies come into effect the reduced pressure on our supply

of overseas earning capacity will allow us flexibility in exchange rates which we do not enjoy at present. We should remember that we have a sellers’ market for the food and energy we are rich in, and lose our begging bowl approach to the world. The other major worry raised in the article, that of a growing bureaucracy and State domination, is best answered by looking at the philosophy of the party, and knowing that with the grass-root policy-mak-ing members so totally committed to maximum personal freedom, they themselves will be the watch-dog of the New Zealand people. The people of New Zealand will do well to reflect that a manifesto is intended policy and a guide to intended actions. The extent and speed with which it becomes practice depends‘on the physical situation and the political will of the politicians. The situation will become clear when we reach the Treasury benches, for it is one of the problems of our political system that information is denied to opposition parties, and policies must be based on educated guesswork to some extent. I have no doubt at all that the political will of our Parliamentarians will be equal to the task.