DOUGLAS CREDIT PLAN
Variation Incorporated in American Bill PAYMENT OF PENSIONS (Received January 17, 5.5 p.m. Washington. January 16. An American variant of the Douglas Social Credit scheme called the Townsend Plan, after its sponsor, Dr. Francis -Townsend, a Californian physician, was introduced as a Bill in the House of Representatives to-day. The Bill calls for the payment of a pension to every American citizen over 60 on condition that they discontinue all gainful pursuits and spend the money within territory under United States jurisdiction not later than a month after receiving it. An initial Treasury grant of two billion dollars, enough to pay the first month’s benefits, and a two per cent, sales tax to keep it going, is provided in the measure.
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Dominion, Volume 28, Issue 97, 18 January 1935, Page 9
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124DOUGLAS CREDIT PLAN Dominion, Volume 28, Issue 97, 18 January 1935, Page 9
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