MONEY AND ECONOMIC SECURITY

Otago Daily Times, Issue 25564, 17 June 1944, Page 7

MONEY AND ECONOMIC SECURITY

Sir,— Surely “ Truth ’’ will agree that it is all to the good that even a dull pupil ” should seek enlightenment It has been said of old, " Seek and ye shall finch knock and it shall be opened unto you. Well, I have asked of Douglas Social Credit, yet have not found, and after vain knocking the door is still barred and bolted. As mv last questions were ignored. I ask “ Truth ” what moral right has anyone in private business for profit to demand a national dividend. Truth is quite right in the assumption that I am a socialist, therefore, unlike the Douglas discinles whose ambition is to extract the limit from the community, mine would be to give the utmost, and thus incidentally benefit myself. Adam ceased to be an Individualist and became a communist when he looked on Eve and said “ Bone of my bone and flesh of my flesh.” “Truth’s” doubt of my enthusiasm for “ honest toil is not to be wondered at. Longfellow knew it years ago when he wrote, ' Something attempted, something done has earned _a night’s repose.” I have not the slightest hesitation in saying, despite the bravery of the Soviet army, navy and air force, plus the wonderful strategy of then generals, the war would have been lost but for the collective and mechanised farms and the communal spirit of even women and children. For years Truth has and rightly so. drawn attention to a deliberate programme of destructlon and restriction, and yet upholds the Private ownership which caused it, and decries the socialists in one part of the world who have made many a desert area as the rose ’ for the good of all If “ Truth's doctrine of unre stricted individualism is right, then Cain was justified after staining mother earth with a brother s. blood in asking th r> iFiz-Jxr 1 my s Ski!

Sir —Your correspondent who signs himself “More Details Please . is -X fea v.’ on? of those who ” assupne a virtue though they have it not.” His modesty and smnlicitv seem more feigned than genuine. Does he ?eally think that even a paper so liberal as yours can spare columns foi the exposition and discussion of what can be learned by any genuine inquirer from an ample literature already in existence. The details he wants as to the meaning and principles of Social Credit—the term being used to Indicate the body of thought that goes under that name—can be got in the works of Major Douglas, available in the Public Library, and in pamphlets and periodicals, particulars of which the Douglas Social Credit Association will eladlv furnish him. , , Having mastered the ideas and principles your correspondent may, if ne likes that kind of thing, make out foi himself some plan " crystal clear in every detail." Then, if he is Interested in the matter In any practical way and not as a mere intellectual exercise he may begin to consider the nature of the opposition likely to be encountered in the endeavour to bring any such plan into action. _ Your correspondent considers it noi unreasonable to ask for at least one testimonial as to where a comparable experiment has succeeded over a reasonable period,” but he must at least acknowledge that the world would have made little progress if everything new had been denied trial until it had been tried. “A” is satisfied that the acknowledged progress and comparative prosperity of Alberta since 1935, or, rather, since the inauguration of the interim programme, is due to the discovery of oil in the province. But the oil was known to be there before 1935. The financial policy followed until that time effectually prevented its exploitation. In 1934, Alberta s oil fields produced a little over 1,250,000 barrels; in 1841, this had increased to 10,000.000 barrels. We know only too well how financial policy can restrict or expand production. Witness what takes place in war-time. —I am, etc., Truth Dunedin. June 15.

Sir, —Your correspondent ” Notso Softski ” has asked how social creditors, as rugged individualists, with their hatred of planning, are going to operate their scheme. The type of planning opposed by social creditors is clearly seen in National Socialism, or Nazism, as it is commonly known. In Nazism, or in any type of State bureaucracy where the State is regarded as supreme, the individual has his way of life planned for him. He is consc r ipted, man-powered, regulated, rationed, inspected, card indexed, propagandised, taxed to the limit, and bossed about by a growing army of bureaucrats and an avalanche of regulations, orders-in-council, and decrees. This is the type of planning opposed by social creditors, where a man’s soul is hardly his own, where practically his whole way of life is planned for him by a few State bosses who presume to know better than himself what is good for him. Social creditors are also opposed to planned production, where the ’’ plan ” is made to fit a false money limit and not the true needs of the people, or the people’s real ability to produce goods and services. The orderly arranging and planning of business enterprise, of new ventures, of increased production of national development, etc., is essential, and is an entirely different type of planning from the foregoing. After all, ” Notso Softski,” social creditors are both idealists and realists, and seek the greatest freedom for all. —I am. etc., Dunedin, June 15. Freedom.

Sir, Creditors are a great people,” says your Polish correspondent, " Notso Softski. OC a truth we are really a wonderful people, because in about 20 years we have spread a knowledge of real economics over some of the most important countries of the world, giving to their intelligent and thoughtful citizens an entirely new vision of world problems and affairs when nothing In reality in the way of economics was known before. The philosophy of reality unfolded by a knowledge of social credit principles enables Social Creditors to see through the false propaganda of certain interests and isms, shams, deceits, and abstractions foisted on the people to believe or worship, and to look upon the strife, turmoil. confusion, and evil planning of people’s lives now abroad in the world with calmness and confidence. Portions of our ideas are permeating all political parties, even the Marxian Tories. Right across Canada, as well as in Alberta, social credii ideas are spreading. I wonder if Mr Fraser will visit Alberta and find out how to run this country without increasing taxation. In our own town and province we have for some time now, per medium of the press, been giving important economic facts for ail who want to learn to read. We must do it somehow. No other groups can do it, not even our universities. I would not, attempt to instruct " Notso Softski ’’ in a press letter, but if he seeks knowledge with an open or willing mind to learn—with our motto, " Not less for some, but, more for all,” as an ideal—he should win out. —I am, etc., June 15. John Stephens.

Sir, —Although " Truth ” has not attempted to refute my charges that Alberta defaulted, I must admit that his latest contribution to the discussion has been a masterpiece of shabby tactics and conflicting statements. In the first place, he savs that it Is an inconvertible fact that no Social Credit regime has been introduced in Alberta. Then in a rambling but rather disingenuous way he Informs

us that Alberta has a plan and mechanism which is not quite a full Social Credit system, but near enough for Social Creditors to be justified in advertising it as the achievement of a Social Credit Government. Apparently “ Truth ’ does not believe in applying the ” acid test to his cwn contributions. Regarding Mr Aberhart’s honesty, I think the victims of his system, who lost their cash, are the persons best fitted to judge him. “ Truth’s ” reference to Britain s war debt to America is another sample of his shabby methods. Does he suggest that America’s claim that Britain should pay her unthinkable sums for munitions supplied bv America in lieu of men, when America herself had declared war, but was not prepared to place mcn the field, was justified? Is it not a fact that, as a substitute for men America advanced England four bl 0 Ulo " s hn f ° r E !}g! own security and defence? While .Eng land’s men were dying in hunclieds o thousands in the , trenches fighting lor more than a year, the war was not costinp America a man. America demanaea repayment with interest from her ally, but England asked nothing for Matilda d ‘ -I am, etc., - Matuaa.

Sir,—” Truth,” having failed to rejriy to mv ouestions, I crave space to show that the evils of the present monetary system can only end through a currency by which each may exchangl his labour power for the products of all others he r P a X.-_ t on a basis of exact and the all. In peace-time in Soviet Russia tne record on which a worker drew things from the store was definite anc * The real thing exchanged there was Labour power which creates all goods. There fore the record of labour Power will not ’lend itself to inflation or deflation. The money used there makes a record of production in one instance and of consumption in the other. The volume depends on the labour perf or m e d, including that part of it set aside tor education scientific research, etc., so that ™ ceiver of goods will always be an immediate producer or a social charge (such as childhood, old age, or sickness paid for out of labour performed under a social security system). As the total labour of all will be—if we adopt that system in the new international order the sole claimant against all the Foducts produced by all the workers the only measure of value of the goods In tne market will be the labour that produced the goods. If things have any power to exchange themselves for other things it should necessarily be at the cost in labour of producing the other things. When profiteering is placed on the scrap heap alone with bows and arrows, horse cabs, etc., then only the cost in labour can procure the other things by surrendering money received for labour for them. None then, would exchange goods at any other rate than the general average cost of producing them. The only power over the market would be the labour which put them there. Then, as now, only the expenditure of human life can P u t tnings into the market: Then, but not as now, only those who put some share of their labour in filling the market can have any share in emptying it. Only those who gave something of life in the creation of goods could secure something of life i n form of goods. So it can be seen that with a currency based on productive effort In farms, in mines, housing manufacture, etc., neither the fortune of gold mines nor the money monopoly could disastrously affect the process by which the products of all, which embody something of the expended life of all, shall always be within the reach of all. Then such things as depressions, influenced partly by contraction of credit, will be but a nightmare of the past. The Labour Party, which exercises control over the Reserve Bank, has in its public works and housing poliev given us an instalment of credit based on productive effort, though, unfortunately, on top of the cost of labour powers, the costs include, as they must under capitalism, many series of profits which, under the new order aimed at by organised Labour internationally, must be relegated to the scrap heap.—l an, etc., [Subject to a right of reply by "Truth’’ this correspondence must be suspended until at least the conference for the purpose of formulating proposals for an international monetary fund has been held.—. E.D. O.D.T.]