DOUGLAS CREDIT SCHEME

Dominion, Volume 27, Issue 108, 31 January 1934, Page 10

DOUGLAS CREDIT SCHEME

Author in New Zealand AUCKLAND’S WELCOME By Telegraph.—Press Association. Auckland, January 30. Repeated bursts of cheering from a small group on the wharf as the Wanganella approached her berth greeted ■Major Douglas, of Douglas Credit fame, who, with his wife, arrived on a six weeks' visit to the Dominion. In an interview, Major Douglas said he was here in the capacity of consulting engineer to the Douglas Movement in the Dominion. His visit had ■been influenced by the growth of the movement in the Dominion, and also by the statement that thirteen members of Parliament supported it. Asked if he agreed that some people were interested in the movement, because of the idea that it promised something for nothing, Major Douglas replied that everybody was interested in something for nothing, including investors. However, it was not something for nothing that was promised, but a dividend on an asset, which had not previously been utilised. Adaptability of Dominion. 1 “Does New Zealand’s geographical isolation make it a particularly suitable country for social credit developments!?” he was asked. Major Douglas replied that New Zealand was suitable, but not merely because of its isolation. Its people were of the suitable type. They were of Anglo-Saxon stock, and their psychology and general characteristics were such as to permit of the development of social credit standards. Asked whether the Dominion’s oversea trading connection would be a serious hindrance, Major Dangles replied: “Look at Japan; by the adoption of certain of the principles of the Douglas system she has increased her trade 53 per cent., and her connection has not suffered.”

Asked if the .Dominion, before making any change, would not have to consider the policy of Australia, Major Douglas agreed, saying that the banking system tied the two countries together. They weire in the same credit area, and it would be of advantage to have both under the same system. Not In Use Anywhere.

In reply to a question as to' whether the heavy overseas debt of both countries tied them closely to Britain’s monetary policy, Major Douglas replied: “Yes, while the present system is adhered to.” His scheme, he added, was not in use anywhere. Japan was not making the best) use of it. As yet international opposition had not been successfully challenged to allow the scheme to be tried. “What do you hope for from your visit?' was the final question. “I will tell you when I have finished,” be replied. Major Douglas was given a welcome to-day by 600 Douglas supporters and others in the Town Hall Concert' Chamber. Mr. H. G. R. Mason, M.P., presided. and also on the platform were Dr. G. M. Smith (president of the Douglas movement), and Messrs. H. M. Rushworth, J. A. Lee, A. S. Richards, and A. J. Stallworthy, M.P.’s, and Messrs. A'lluin (chairman of the Transport Board), Wallace (chairman of the Hospital Board), and several City Councillors. Messrs. Mason, Allum, and Rushworth spoke.