SOCIAL CREDIT

New Zealand Herald, Volume LXXV, Issue 22984, 11 March 1938, Page 10

SOCIAL CREDIT

' PRINCIPLE NOT SOUND

{APPLICATION TO CANADA

CRITICISM IN HOUSE

SKYROCKET INFLATION

By Telegraph—Press Association —Copyright OTTAWA. March O Speaking against a no-confidenco ifiotion moved by Social Credit supporters in the Canadian House of Commons, the Minister of Finance, Mr. C. A. Dunning, Eaid Social Credit was fundamentally unsound, encouraging the wildest inflation and eventually Teaching totalitarianism. Major Douglas' works, he said, were masterpieces of confused theory and studied ambiguity, with every concrete problem dodged. Canada's adoption of Social Credit •would mean only "skyrocket" inflation and would bring disaster. Mr. John Blackmore, sponsoring the motion, said bankers created money a 6 credits, yet Were riot charged with being inflationists. The bankers should bo ordered to abolish poverty and, if they failed, should In; replaced by experts.

Questioned from tho Government benches, ho said he could not disclose the identity of the experts. Pressed by Mr. Dunning to state just how Social Credit would work, Mr. Blackmore asserted that the explanation would involve too many technicalities. .Urged to state how much currency he ■would issue, ho* replied that ho was ■undecided. Mr. Dunning said tho only financial solution for an increase in the national material wealth was a managed curjency. "