SOCIAL CREDIT AND INFLATION
TO THE EDITOR Sir, —I have to thank Mr C. H. Chapman for his long letter, but unfortunately it does not help me. When theories will not square with obvious facts the theories must give way. The statements in my last letter were not in the least ambiguous, and need no elucidation. The first was “the bank can cancel only the amount of money created by it, and that such cancellation takes place when the money is repaid to the bank.” The meaning of this is clear. Does Mr Chapman agree? The second statement, equally dear, is, “ When money has been put into circulation it remains in potential circulation until cancelled.” Does Mr Chapman admit this? These are plain and definite questions, and until they arc candidly and definitely dealt with I am not prepared to discuss vague theories. — I am, etc.. Inquirer.
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Otago Daily Times, Issue 22544, 11 April 1935, Page 15
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147SOCIAL CREDIT AND INFLATION Otago Daily Times, Issue 22544, 11 April 1935, Page 15
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