SOCIALISTS AND SOCIAL CREOIT.

Waikato Times, Volume 114, Issue 19052, 16 September 1933, Page 7

SOCIALISTS AND SOCIAL CREOIT.

(To the Editor.) Sir, —In your Issue of September 12 a letter by Mr John Sykes appeared under the heading “I Warn the World.” After quoting at some length from belated utterances of Mr Bernard Shaw in regard to the inevitability of the failure which overtook the World Conference, also on what he conceives to be the right basis of democratic voting, he goes on to say: “Having pleased our Douglasite friends and Mr Earle Valle." 1 would ask Mr Sykes what he means by that. As a Douglaslte I am anything but pleased with the way Mr Sykes has of generally mixing things up and so confusing those who are trying to gain a clear view of the economlo situation and the fundamental principles underlying It and at stake, Quite apart from that, I am sure no Douglaslte who has been seized of the dynamic realism of Douglas teachings reads through Mr Sykes’ letters (in which he appears to be trying to fit in with diverse eoonomto philosophies and policies without really doing justice to any) in the hope of being pleased by a ohance implied pat on the back by that writer. No personal disrespect for Mr Sykes Is Intended, but he should realise that it is only courageous grappling with and adherence to the stern truth that can have any power to please genuine Douglas advooates.

Why does not Mr Sykes carry tho interpretation of his quotations and facts to a finality and be content to abide by the courage of his convictions? So far it seems to me the main purport of what he has said has been: “The social system must be ohanged,” “the social system will be changed,” and “over In Russia the social system has been changed.” Well, admittedly; but the Irony of it is that the credit monopolists and their paid agents are alwa'ys the first to say “So say II” for is It not tholr bewildering power, based on secret financial manipulation, which is behind the cursed social change talcing place everywhere? Doos Mr Sylccs know where the money came from which financed tho Russian Revolution and established the "dictatorship of the proletariat,” with Jews everywhere da Russia holding the reins of super-administration? Local Socialists might well define their attitude towards Social Credit. Mr Harry Holland has virtually hold Mr Franklin Roosevelt up as an example in pioneering statesmanship. Who arc Mr Roosevelt’s mentors if not America’s chief bankers, already named by “Tho New Ago”? Mr Sykes may think it groat of the Fabian Socialist, Mr Bernard Shaw, that he should say afterwards that the World Economic Conference was bound to fail—a good thing, too, for had It hcen a success In any sense it could only have been so In the interests of tho international credit monopolists who provided the financial frame of reference within which ail discussion was to range. Douglasltes, myself among them, said long before

the 'conference oame off that it was only another “red herring,” and that no good could come of it; but, indeed, from the point of view of the super-bankers it may well have been a greater success than we have yet awakened to. In the same way I will confidently forecast that Mr Roose-' volt’s operations in America will prove a terrible "sell” for tho common peoplo of that country and another wicked triumph for central banking Interests. Whatever temporary results may be, following on a now release of the people’s credit as debt owing to the banks, it will soon bo found that real purchasing power has shrunk, not expanded. What do British Socialists think of Social Credit as an economic policy? “Tho Now Age" reviews as follows a new book, “Foundations of tho World’s New Age of Plenty,” by Mr Fred Henderson. It. soys: “Mr Henderson, a veteran Labour economist., will have none of tho new-fangled credit schemes. In his view adjustment of currency or monetary policy will not allow plenty to he distributed to all. Tho essential change needed, lie holds, is for tho community to own natural resources and control production for the common good, instead of for profit-making.” I nee i only add that if tho Labour Socialihs of this country arc of a like mind (as it seems fairly certain that at least Mr Harry Holland is) then Douglasitos at least will regard them as hardly to be distinguished from our common enemy, the credit monopolists.—l am, etc., R. E. HANSEN. Orlnl, September 14, 1933,