SOCIAL CREDIT.

Waikato Times, Volume 118, Issue 18764, 20 December 1935, Page 9

SOCIAL CREDIT.

(To the Editor.) Sir, —Mr Hunter is always reasonable in his letters, and no one could doubt the sincerity of his belie! in the benellts to he derived from the adoption of the Douglas principles, but his answer to my questions was vague. Perhaps that was to be expected, l’or I realised, wlien reading my letter in print, that it assumed a great deal; In fact, assumed an intimate knowledge on the part of Mr Hunter of all the economic opinions expressed by these economists. 1 agree with him that the cable ,messages do not give much prominence to these matters, but possibly they do not create as much interest elsewhere as they do here. I can say more delinilcly that they command practically no interest at Home. I intend to write to a friend, a leading economist in Toronto, and ask for particulars of the King Ministry’s . policy in tills respect. The experts who advised the National Executive of the British Labour Party certainly did, as Mr Hunter stated, admit that the use of social credit would result in trade expansion, but the statement was carefully qualified, and I would draw your correspondent’s attention to the qualillcation. Social credits, they said, “would lend to cause monetary and industrial expansion,” but they added that the proposals “offer in any case no permanent cure for the recurring capitalist depression.” And surely it is a permanent cure we want. I am particularly interested in the Swedish expert, Professor Cassel, with his strong advocacy of a sterling bloc, and would be glad if Mr Hunter would indicate where his views coincido with those of Major Douglas. Frankly .1 did not,like the implication that some personal pride prevented these advanced thinkers from supporting or endorsing the Douglas theory. They are big men, in the best,sense, and not likely to be influenced in that way. Last year I read in the Manchester Guardian a review of a book written by an economist examining the major plans advanced for the removal of the depression, and it made the statement than the author had not even referred to the Douglas plan, which seemed to indicate that it has not the prominence at Home that enthusiasts give it here. —I am, etc., 11. GIRVAN. Hamilton, December 19.