LACK OF VISION.

Waikato Times, Volume 114, Issue 19066, 3 October 1933, Page 7

LACK OF VISION.

(To the Editor.) | Sir.—Really one feels inclined to j sympathise with your correspondent Mr Douglas Seymour. Apparently, like Louis XIV., he has a mind which is “small in scope and concentrated in grip.” Having read the “A B C of Douglas Social Credit,” die lias evolved the criticism which occurs to any thoughtful mind, that if the B payments (all other costs) be traced back far enough they become A payments (wages, salaries, and dividends). That was twelve months ago. Well, what about it? Apparently Mr Seymour has not yet realised that In tracing back B payments he Is stepping retrogressively from one industrial unit to another, and that each unit has its A and B costs. As fast as a B to-day reveals itself as having been an A yesterday, older B’s belonging to earlier cycles are also revealed. Even his beloved bank has its A and B costs, the A’s being the wages, salaries and dividends, and the B’s all other costs like raw materials (in *a bank’s case paper and ink, which is very important to a bank’s existence!), lighting and postal charges, depreciation, etc. Can he show one industry which In any given period of time pays out in wages, salaries and dividends—potential purchasing power —what it charges in prices for the goods it produces or the services it renders?—l am, etc., HUIA. Hamilton, September SO, 1933.