Personal

Wanganui Chronicle, Volume 79, Issue 279, 28 November 1935, Page 6

Personal

M•. and Mis. Dv.'iar and Miss M. Wilkin-, of {Sydney. are visiters to Wanganui. Captain Cacoyauinis is master of th** Greek steamer Nemea which arrived off the Wanganui bar yesterday afternoon from Port Muroran (Japan), via Auckland and Lyttelton.

as tv avoid pressure for definitely fixing rhe date of the initiation of the monthly payments. It was staled from the outset that the Federal Government would emphatically oppose the Social Credit scheme, and it was pointed out that the proposed issue of strip was illegal under the Bank Act. Major s Plan. Major Douglas recommended to the I preceding Government a systematic provision under the unchallengeable control of the Province, also the organisation of some credit institution, whether under the Dominion Bank Act. or otherwise. which would give access to the creation of effective demand to the credit system on principles already well recognised and established. He also recommended systematic organisation dire-ted to the accumulation of what might be termed “foreign exchange.* ’ that is. effective demand, not subject to attack as being recognisable as having been created within the

Ultimate objectives, however. Major Douglas pointed out, could be obtained e.nly by access to control uf local credit. Therein, apparently, lies Mr. BiAj-liarTs