SOCIAL CREDIT.
AN AMERICAN VARIANT. WASHINGTON, Jan. 16. An American variant of the Douglas Social Credit scheme called the Townsend Plan, after its sponsor, Dr Francis Townsend, a Californian physician, was introduced as a Bill in the House of Representatives to-day. The Bill calls for the payment of a pension to every American citizen over 60 on condition that he discontinues all gainful pursuits and spends the money within territory under United States jurisdiction not later than a month after receiving it. An initial Treasury grant of two billion dollars, enough to pay the first month’s benefits, and 2 per cent, sales tax to keep it going, are provided in the measure.
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Manawatu Standard, Volume LV, Issue 43, 18 January 1935, Page 7
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112SOCIAL CREDIT. Manawatu Standard, Volume LV, Issue 43, 18 January 1935, Page 7
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