|Subject:||RE: [socialcredit] douglas-alberta-1934|
|Date:||Wednesday, August 15, 2007 23:32:14 (+0000)|
|From:||John G Rawson <johngrawson @.......com>
Leaving aside the methods, depreciation charges are simply comparable with
investment of savings. A "B" cost, surely.
Regards. John R.
From: MODERATOR <email@example.com>
Subject: [socialcredit] douglas-alberta-1934
Tue, 14 Aug 2007 21:57:37 -0700 (PDT)
>I attach in PDF format what I believe
to be a accurate
>version of Douglas' 1934 testimony to the
>I just noticed this from page 89 of the attached
>"Suppose you issue $10,000 worth of stock, and you put
>up a factory.
The physical process of depreciation
>takes place; it is always insisted upon by
>auditor, and your figures are written down. You ought
>to have a transfer
back into purchasing power of those
>figures which are written down, because you
>your plant for the production of something which is
>sold to the
public. Now you can write down those
>physical assets, and apply some of the
issues of the
>money to re-transferring into cash the physical assets
written down, and that disposes of quite a
>considerable amount of the money
which is issued."
>I wish that the Committee had cross-examined him on
a bit to clarify what he was saying.
>Compare it to this from Warning
Democracy, which we
>were discussing a couple of weeks ago:-
>"...one of the
first requisites is to deal with the
>immobilisation of bank credits in fixed
>"There are many ways of doing this, and perhaps one of
would be the automatic writing up of the
>bank credits of any limited company to
>the increase in its fixed assets, as certified by
>chartered accountant during a given accounting period.
>"The effect of
this, so long as the result was not
>defeated by rings of prices, would be to
>by enabling competitive concerns to get a proportion
overhead charges out of prices charged for
>The thrust of
all of Douglas' financial
>recommendations was to increase the rate of profit
>what I have characterized as macroeconomic accounting
increasing the quantity and scope
>of what is produced from productive
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