SOCIAL CREDIT

Wanganui Chronicle, Volume 83, Issue 169, 20 July 1939, Page 6

SOCIAL CREDIT

The social credit, people have beei very quiet of late. The public ha; had a little of their preachings prac tised on them and can see the prac tical results of same. They advocate the issue of bank credit for goodi produced to enable them to be con si \ ed. This, in practice, has givei us an overdraft of many millions i our Reserve Bank account, also maaj millions more in other “book entrj credits” to the Government. Thes< expanded credits have certainly enabled the people to buy very much more local beer and bookies’ bets, also English goods. However, it has not expanded the production of the I goods butter—for which credit wai expanded. Has our tastp of credit expansion been successful? If so, why has Mr. Nash gone to London for good English cash instead of again to Moscow for more new ideas? If, as social creditors claim, the expansion of credit and note circulalion is beneficial, why is the law not altered to allow counterfeiters to operate without penalty. They would surely be doing the nation a great service. It appears that what this country requires is many more breweries, producing many times more beer, against which goods credit should bo issued lo enable its consumption, “the true measure of wealth being the consumption of goods.” When the consumptive capacity of beer has been really reached the people may turn more lo butter and milk consumption and the credit, expansion of these will be justified and things will work out better. I am. etc., “EASTM ERE.”