DOUGLAS SOCIAL CREDIT

Wanganui Chronicle, Volume 76, Issue 167, 18 July 1933, Page 4

DOUGLAS SOCIAL CREDIT

I sir,—Tho following correspondence • which passed between the N.S.W. j Government Statistician and New South I Wales Douglas Credit Association may be of interest to your readers. On November 22, 1932, the Government Statistician wrote to the State President of the Douglas Credit Association: — “Having been requested by the Government to investigate and report upon the Douglas Social Credit System. I have pleasure in inviting you to place before me the official views of your association and to expound the system. Alternatively, your association might prefer to nominate a small committee (of, say, not more than three members) for the purpose mentioned. “I would suggest that you might meet me at my office parly next week at an hour that could bo arranged by telephone. If it would inert your convenience. I could be available on Monday evening at 7.30 p.m. “For your guidance and information, I append the following: “(a) Copy of the letter of the Assistant Treasurer (dated November 18. 1932) requesting mo to proceed with the investigation. “(b) Outline of matters with which I should like to deal at our first discussion. “(c) A list of the books and pamphlets which are in process of being examined on this subject. “I should like to devote our first meeting to obtaining an accurate description of the Douglas Social Credit System and at later meetings to consider your proposals for its practical operation. Thereafter. I will examine the expressed views of critics of the system. “If you desire to make anv representations in writing prior to our meeting, I should be very pleased to receive them.” To which tho president of the association replied on November 29, 1932: “Referring to our informal meetings, I would request that vou delay the commencement of investigation into tho Douglas Social Credit Proposals for n period of two or three weeks, to enable us to discuss the matter with the various associations in the Commonwealth. “I trust this will meet with your approval. “As promised T enclose herewith a copy of tho “New Economics” for Australia, dated Juno 1, in which is reprinted a tentative scheme for Scotland. drawn up by Major Douglas. “I would also recommend that you add to the literature to be studied 1 ‘Social Credit.’ by Major Douglas, and ‘Credit Power and Democracy,’ a copy of which I left with you.” On December 19, 1932, tho State President of the Douglas Social Credit Association (New South Wales) wrote to tho Government Statistician, Sydney, as follows: “With roference to your letter of 22nd ultimo.— “After duo consideration by the State Council of tho Douglas Association of New South Wales it has boon decided that no good purpose would bo served by our offering evidence for tho investigation you have boon naked to carry out on behalf of the Government of Now South Wales. “Tho Now South Wales Association, therefore, bogs to inform you that it will not offer evidence, nor take part in tho inquiry.” To which the following reply was sent: “I thank you for vour letter of 19th instant, and note with regret that your association has decided not to accept my invitation of 22nd ultimo in relation to the investigations which I have boon roouosted tn make into the Douglas Social Credit System.”—Yours faithfully, ‘ ‘ ECONOMIST. ’ ’ Wellington, July 13. USURY THROUGH THE AGES Sir, —Following the letter of “Anglo Indian” in your issue of this morning, tho appended doings of leading men of various periods of history, speak for themselves regarding interest. Chrysostom (A.D. 347-407) said: “Nothing is baser in this world than usury; nothing more cruel King Alfred (A.D. 900) directed that the effects of moneylenders be forfeited to the King, and that they should not be buried in consecrated ground. In A.D. 1050 Edward the Confessor wont even further: “Tho usurer forfeits his all, and will be declared, an outlaw and banished from England.” Under a law introduced by Henry II (1154 A.D.) usurers’ estates wore forfeited at death and their children disinherited. Richard I forbade usurers to attend his coronation, and would not protect them from violence. King John confiscated the wealth of moneylenders. Edward 111 made usury a capital offence. In the reign of James I, the Lord Chancellor said: “Usurers are well ranked with murderers.” Henry VIII permitted interest up to 10 per cent, to appease the moneylenders who had hoarded gold and silver, and so caused a depression. Edward VI abolished interest. Mary 1 was very severe on usurers and moneylenders who had again begun to hoard gold and silver. Queen Elizabeth restored the law of Henry VIII, of interest up to 10 per cent., and this law held good until 1854, when all laws against usury were repealed. Until about 80 years ago, the English dictionaries defined usury ns:: “Interest on money loaned.” Then tho definition was altered to read: “Interest in excess of legal rate.” Under divine law, usury is any interest on money. The Bank of England was founded in 1694 in consideration of the pionev

lenders coming to the rescue of the Government for a large loan. Surelv, if the monarchs of old England had sufficient intelligence to keep a more or less even amount of currency in circulation and keep the money-lenders in check, then surely we, without. 20th century intelligence, should be able to see even more clearly the effects of the control of money by the banking system—our present day usurers. In the London Daily Mail of Jan. 7, 1933, Professor Soddy wrote: “I believe that if democracy took the trouble to find out what its actual money system is, it would enter on a new lease of life. At least, it would think twice before consenting to submerge its antonymy into a world union ruled over by the very people who, in tho wealthiest era the world has ever known, have reduced each nation severally to the verge of bankruptcy. “I solemnly affirm that our monetary system has cost the British taxpayer an unjust burden, heavier than the present, aggregate of the National Debt; that since I began to write this article an hour ago it has cost him many thousands of pounds, and that this is going on night and day, year in and year out, and will go on until people insist on knowing more about their money systems than those responsible think good for them.” In an address to the Perth Rotary Club in the “Art of Swindling,” Professor Murdoch said that the basic swindle of our present distress was banking system, which could create and destroy money at the will of a small group of men, who had become irresponsible lords of the world. It was owing to this system that there were so many unemployed, so much poverty and despair. All this misery and destitution in a world richer in material wealth than it had ever been, was called “sane finance,” and persons who tried to show the way out, were, called “cranks.” People were told that “world forces were at work.” a* if nothing could be done; but tho knot had been tied by human folly, and could be untied by human intelligence. —1 am, etc., “SIGNPOST.”