MR PATERSON'S FAIRLIE ADDRESS.

Timaru Herald, Volume CXXXVII, Issue 19329, 2 November 1932, Page 8

MR PATERSON'S FAIRLIE ADDRESS.

To the Editor of “ The Timwu Hereld-” Sir, —Mr Paterson recently delivered an address under the auspices of the Fairlie Economic Research Association. A report of this address was published in your issue of October 25th. It must appear that the address as published cannot be a verbatim report of the address given in Fairlie. At the conclusion of Mr Paterson’s talk, questions relative to the Douglas System were called for. These questions were intended to elucidate various incongruities supposed to be apparent in the Douglas Plan, and it is unfortunate that the answers were omitted from the published report. Several examples might be written here: How is “trade competition” affected by the Douglas System—in particular, how is it possible to reconcile the two statements by Mr Paterson: (a) Douglas abolishes competition, and tb) Competition is still possible under the Douglas Credit System. Another point—“ People with no work to do, but able to live on money drawn from the Treasury.” Mr Paterson stated in effect, that this problem would be of minor importance only, and could be very satisfactorily dealt with after the Douglas Plan was in operation. He stated further, that the Douglas Plan, like all new things, was as yet not perfect, and various additions would of necessity have to be made to it. In passing, it might be noted that the elasticity of the "Treasury” is rather remarkable, and a brief summary of the answers made to the above questions might contain sufficient explanatory matter to assure us that the Douglas System, as outlined by Mr Paterson, is not so elastic and flexible as to make it impracticable; that there is a line of demarcation between social credit and Socialism; whether Mr Paterson thinks that the Douglas System will be incorporated in the platform of any existing political party.—l am, etc.. IPSISSIMA VERBA.