WHAT IS DEMOCRACY

Bay of Plenty Beacon, Volume 9, Issue 97, 10 July 1946, Page 8

WHAT IS DEMOCRACY

Sir, —I take it, that your correspondent "Onlooker" is not confused, as I am reported to be. Therefore I suggest the objective of his interpretation of the word Democracy, and also the word State, is to cover the deficiencies of supposed Democratic Governments controlled by foreign finance, which controls "Party Politics" today. If the was in control of its financial policy and by the people, it would then be Democracy. Hence the last word on policy is with finance, not with administration, and is concerned with the control of credit by the banks. To democratise the policy of production we have to democratise the control of credit. The essence of the existing money system is that it creates an artificial scarcity of purchasing power on the one hand and places the power to - relieve this scarcity in the hands of an International Organisation on the other hand; so one cannot have a Democratic Government when the Treasury is controlled by Foreign finance. Therefore, 'party politics' is a sorry farce and reduces a Parliament to a sham. In a speech, Mr Phillip Benson, President of the American Bankers' Association, "New York Times" June 11, 1939, said: 'There is no more direct way to capture a Nation than through its money system.' The late Vincent C. Vickers, former director of the Bank of England stated in 1936: 'As we stand today, money and credit is not controlled by the State but by interested parties, creating no real wealth, working to make money out of money Yes, money was merely a means of exchange for goods, but being concerned by interested parties, it is what is causing our troubles today.' If my friend would go back to. 1917, he would find the same old gang that caused the trouble in Russia (vide, Maloneys report) and is causing the present world trouble "the International Banker." Witness the stranglehold on the British Nation today, and the New Order (the Old Order intensified) "a charter of subjugation," under the Bretton Woods Plot. Social Credit is ethically Christian and Democracy its foster par- t ent. Yours etc., W. BRADSHAW.