CREDIT NOTE SCHEME

Poverty Bay Herald, Volume LIX, Issue 17802, 10 June 1932, Page 6

CREDIT NOTE SCHEME

PLAN FOR RELIEF WORKERS SALE OF COMMODITIES Tho credit note scheme in the One Tree Hill borough, Auckland, which was commenced on -May 14, is considered to be working most satisfactorily, and about DO unemployed members of the New Zealand Workers’ Social Credit Association arc taking advantage of work resulting from it. Under tho scheme, any householder who hands over money or goods to tho association receives in return credit notes of equivalent value, which may be li.sed to pay members of the association for work done. With the notes members so employed may make purchases from the association’s store, which is stocked with commodities received from householders ami with others purchased at wholesale prices; • - • A butcher, a barber 1 , a bootmaker, aud a wood and coal merchant in the neighborhood have agreed to .accept the credit notes in payment for goods and services, and the notes are redeemed from them weekly by the association. The system was evolved by the One Tree Hill Workers’ Association which, upon putting it into effect, changed its name to “The New Zealand Workers’ Social Credit Association.” This was in order to allow other local hodies’ districts to bo embraced in the scheme without issuing a. new type of note. The association has opened a shop in an old fire brigade station, which hah 'been lent for the purpose'bv the borough council. Here foodstuffs and dothing may ’be purchased by members oiily, either with credit notes or for cash. Twelve men daily, on an. average, havp used the shop since it was opened, and new members arc enrolling every day. Tho prices are very little above the wholesale level. ' ’ '