DOUGLAS CREDIT

Poverty Bay Herald, Volume LXIII, Issue 18961, 11 March 1936, Page 3

DOUGLAS CREDIT

(Tc the Editor of the Herald.)

Sir, — If .1.M.U., or any other Douglas supporter, wishes to see Douglas answered he should read "J he ( omliiunist Answer to the World’s Needs, by Julius F. Meeker, Plt.D. I here :s a. copy of Ibis book in the Turaiigainn Library. Referring to the Douglas 5 plus J> theorem, J..M.11. may possibly receive enlightenment from an article published in the Labour Monthly, where Maurice Dobb says: "’I he lallaey lying beilind Ulii pretentious- discovery is

also a simple one. It is that B payments become A payments at an early .' stage of production. It is the familiar fallacy of composition---of looking at tie' position of one lirm alone ami in isolation, and then generalising from il t‘> the whole, instead of reviewing th‘ whole' as a unified process. For • " stance, (lie ’costs’ of- iron divide inl<> payments to iron workers and iron capitalists (A payments) and payments lot coal and ore (II payments). Rut tinlatter (price paid for coal and ore) lie comes payments to workers or capital isls (A payments) at the earlier mining stages of production.” The balance - I the excerpt from Dobh's article ma\ l.c seen in Meeker's book, which, maybe. .LM.IL will bring before bis local Douglas group. Anyway, we should not “have long to wait and see if the social credit, scheme will work satisfactorily in Alberta. An ounce of practice may still be worth u toil of theory.—Yours, etc., ' ' HECKER.