FAIRLIE

Timaru Herald, Volume CXLII, Issue 20474, 20 July 1936, Page 3

FAIRLIE

ADDRESS BY MR SHERWOOD SOCIAL CREDIT PROPOSALS Mr D. M. Sherwood, the London accountant, who is on a lecturing tour of New Zealand, gave an address to a fair attendance in Fairlie on Saturday night, on world problems in relation to social credit. I Mr C. J. Talbot, who presided, said everybody would agree that the time had come when a strenuous effort should be made to improve conditions. “We ought to be grateful to thinkers and students who have gone into the matter,’’ he added. Mr Sherwood at the conclusion of his address, was accorded a vote of thanks on the motion of Mr A. F. Campbell. Since his arrival in New Zealand, Mr Sherwood said, he had been much struck by the lack of the feeling of uncertainty that was so common in the rest of the world at the present time. World conditions were in a state of tension, and people were being physically weakened through worry about the future. Production to-day was seven times what it was in 1914, and nearly a quarter of the working population of many nations was unemployed, and often another quarter was only working part time. England today was littered with the skeletons of unused factory building's. “The old Socialistic cry for the nationalisation of industries, has lost its potency,” the lecturer proceeded. If the time came when there was a shortage of goods, then a case might be made out for the nationalisation of industry. The capitalistic system, whatever its defects, had • produced the goods. “You of this generation are starvel as no other generation has been starved,” he added. It was not a case of taking from the rich and giving to the poor; the average national income was too small. Owing to the shortage of income, every nation tried to send out more goods that it would take back in return. Lack of purchasing power accounted for the whole problem. There were various reasons why sufficient income was not distributed by industry to buy back the goods produced. “There afe various technical reasons,” he said, “which I do not propose to go into.” The hire purchase and time payment systems were evidence of a shortage of income. Mr Sherwood referred to conditions in Italy and Germany, and stated that economic conditions had forced Italy into the Abyssinian war. “Under the present economic system,” he said, “you have the choice of peace at the cost of depression, or prosperity at the cost of war. He proceeded to refer to what he termed the control the international money monopoly had over the world. To-day it was no use fighting the industrialist or the capitalist; not they, but the banks were in control. The monopolistic activities were centred at Basle, where the international central bank was established. “The banking system as far as it goes, works admirably,” Mr Sherwood continued. “But what the banking system does not do, is to finance consumption. Bankers are no more to blame for operating a faulty system than you and I are for allowing them to do so.” He made reference to New Zealand conditions with relation to the operation of social credit, and said that because there was still much development work that could be done in the country, it might be unwise for a start to distribute the full national dividend. He believed that the late Government conscientiously did its

best to better conditions by using all the available schemes under the existing system, but it was unable to succeed because the system was faulty. The present Government was the only one in the world which had the opportunity to inaugurate a model of democracy before a world war took place. The experiment in New Zealand concerned not only this country, but could provide a model for the world. But it had to succeed, and there were many dangers ahead.

“One of the main reasons for Labour being returned,” the speaker stated, “was the votes swung over by the Social Credit movement. Just in the same way as we helped to get Labour in, we will turn them out if they do not fulfil their promises.” Referring to Russia, in reply to one of the questions he answered at the conclusion of his address, Mr Sherwood said that the total income in that country was still equal to the quantity of goods produced, and until there was a surplus, it was not a case for the adoption of social credit. OBITUARY The death occurred suddenly on Saturday night of Mr L. M. Brice, a highly respected resident of Fairlie for many years. Mr Brice attended a meeting and appeared to be in good health, but within 100 yards of his gateway on the way home, he collapsed. Mr Brice was bom in Christchurch and was the youngest son of the late Mr William Brice, who was at one time a well-known business man in Christchurch. Before coming to Fairlie, Mr Brice was on the staff of Messrs W. Strange and Company, and later was employed as a manager of one of the departments in Messrs Ross and Glendining’s woollen mills, Dunedin. When he came to Fairlie, he took over a drapery business from T. F. Bussell. Mr Brice was at one time a member of the Golf and Bowling Clubs, and was a former president of the Aorangi Football Club and a member of the Mackenzie Sub-Union. He was also a past president of the Fa’rlle Business Men’s Association and a valued member of the Mackenzie A. and P. Society. Mr Brice is survived by his widow and a family of four, Mr Allan D. Brice, Wellington, the Rev. Father L. Brice, S.M., of Wanganui, Miss Eileen Brice of Christchurch, and Master Frank Brice, Fairlie. The funeral will leave for the Fairlie cemetery to-mor-row afternoon. EUCHRE PARTY At the fortnightly euchre party and dance at the Cricklewood school on Friday night, prizes given by Mr Coutts of Fairlie, were won by Mrs G. Cooling and Mr A. Elliott. Songs were given by Mrs Guy and the Misses D. Connor and E. Flynn, and recitations by Miss M. Cooling and Miss Connor. Dance music was supplied by Mrs Guy, and Miss Z. Elliot. Mr A. Elliot was master of ceremonies.