SOCIAL CREDIT

Bay of Plenty Beacon, Volume 4, Issue 181, 17 November 1941, Page 4

SOCIAL CREDIT

Sir, —While replying to Mr Braclshaw, I wish to apologise for a mistake in my last letter, due to Incor* rectly rewriting the original, now the copy. The phrase "His (Mr Hogan's) unstinted praise of Germany" should have read "Unstinted praise of Germany's finances.'* However, this in no way contravenes, the. implications enumerated in that letter, which were all dependent on the latter phrase. * And so to friend Bradshaw, who among other things is my modesty in not attempting >to solve those post war problems, which as yet have not appeared. Nevertheless I am quite confident that man will solve the problems ahead with, the same ingenuity, he has used in solving every other impasse with which history has confronted him. It is also certain that ''Social Credit" and other nostrums born during the last depression when people were desperately seeking a "way out;" will -bear no relation to future problems. "Social Credit" has never been more than a-conglomeration of half truths and contradictions, and its jargon^—"Figures in books," "Costless credit," "The Jews," etc. has been used by opportunist politicians including Hitler and Miosley, with varying success —there is not one unequivocal statement in the whole theory. Mr Bradshaw is rather comical with his treasury vouchers which are probably just as difficult for Albertaeans to acquire as were other types of monetary tokens of equivalent nominal value. Will he deny that private banks are in existence in Alberta? In New Zealand the currency is issued by the Reserve Bank and these notes are just as "*tough" to get, as were the notes issued by the trading banks. The fact is that "Social Creditors" have 1 a fetish—the fetish of bank notes and vouchers—they see in currency some mystical virtue which so hypnotises them that, they over* look the mundane truth that currency of whatever name is only a medium of exchange and not an end in itself. Recently in a house full of bank notes in one of cur cities, there died an old lady who was none the less poor for all that, for, not only did she not transport them to the happy hunting grounds of old souls with pots of money, neither did they have any intrinsic value while they remained with her in her solitude. Finally Mr Bradshaw confirms my previous remarks on Alberta by vaguely asserting that the ■ province was "emerging from capitalistic domination," apparently this emerging is a very painful process—-why tha word "'Capitalistic" (a new one social credit jargon) is substituted J'or financial, is also a bit vague, but perhaps Mr Bradshaw now wishes to upset the whole box of tricks. 1 wonder. Yours etc., 5 H. C. BROWN, Taneatua.