DEBT-FREE CREDIT

Grey River Argus, 22 September 1936, Page 5

DEBT-FREE CREDIT

REQUEST TO MINISTER

To Make a Promise

MR ARMSTRONG’S REPLY.

(Per Press Association.) CHRISTCHURCH, September 21. _ Demanding a declaration of the ultimate aim of the Labour Government, a. deputation from the S,octal Credit League .waited on Hip Aljinister of Labour, Hon. 11. T. Armstrong, today. Their spokesman was Air 1' Whiley. Mr Wlnley s’aid that they felt un easy at presenti. particularly regard ing the taxation policy of the Government. Tho deputation considered that the introduction of a debt-free money system was the most important pant of its policy during the election campaign. The use of the slogan.“the country’s credit.” and “monetary reform” had caused some peo pie to think that the Labour Party would reform the monetary system o the country, but an orthodox system, he s aid. was still being used. He said that, as a result, people who had supported the Labour Party had a f’Cl’ing that they had been “left in the air.”

“It would help us greatly if you would tell u-> what is the ultimate aim of the- Labour Government,” Alt Whilev concluded.

The’ Alinister, after hearing other sp'eaker.y said: “The object of tne Labour Parly is socialism. Is it

your’s?” The deputation, in chorus, said “No! ”

“Then we disagree on . fundamental principles,” replied Air Armstrong. “I have believed in socialism since I was a hoy. I see no reason to change my views.” A voice: “That is a long time ago! ”

Air Armstrong: “When yon are a* old as I am, and when you have had a little more experience of tiro world, you will believe in the philosophy ol socialism,, ton. ” Later, Mr Armstrong informed the deputation that, if he was a member of the Social Credit Alovement, h. would not be sO' uneasy about New Zealand as he wow'd be about- the state of Albert a.

The members of the deputation countered this suggestion by saying that it was too early to judge the results in Alberta yet. Social credit hat not b-een fnllv tested there.

“Nor has socialism been fully tried in New Zealand yet,” returned Mr Armstrong. lie continued by saying that the Government was moving in the direction of reform. It had taken control of the Reserve Bank, ami, under its legislation, it had power to use that institution in any way it pleased.

“There is no moro iponov in New Zealand to-day than there was before we took office,” said (he Minister “Yet. in nine months, we. have brought about a stat-,’ oi’ prosperity. Y'ou see it everywhere you look! The spending power of the people has been increased by about £23,000,000, and that money is changing hands every week.' ’

The members of the deputation tried to induce the Alinister make a favourable declaration on the subject ol .k’bt-free credit, but Hon. Air Armstrong urged the deputation not to make a fetish of that idea.