ECONOMIC SECURITY AND FREEDOM

Otago Daily Times, Issue 23807, 13 May 1939, Page 10

ECONOMIC SECURITY AND FREEDOM

TO THE EDITOR Sir,—ln the letter of criticism from Mr C. H. Chapman, I must point out that there is a misquotation. I state that for true progress without sacrifice of individual freedom, it is necessary that the "money system serves and does not control industry and that production and consumption are equated." Surely it cannot be denied that in the modern economic system, industry is subservient to the financial or monetary system. Further, if the monetary system were made to serve industry, it would act as a bridge between production and consumption, and these would automatically become equated at the lowest of the two maximums. As for the criticism about divergences with Douglas of Social Credit organisations and Social Credit publications, surely all the institutions and literature carrying the name are propagating the three basic Social Credit proposals, viz., open the national credit office, issue the national dividend, and apply the Just price. The differences of opinion are solely in regard to the best methods to be used for their speediest introduction and application.—l am, etc., S. Townsend. Maori Hill. May 11.