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Hello Trevor,
Thanks for your well written and thorough
reply. As you probably are aware already from my previous exchanges with
Don Bethune, I'm not going to try to engage in ''essays in persuasion'' where my
own views of 'social credit' conflict with those of many down under.
I realize the "N Z Democrats for 'Social Credit'" seem to have
their policies pretty well set, (in stone? ~ well, perhaps! ), and far be
it from me to try and change them. I'll be observing with great
interest to see how they come out if you're successful electorally, which I
sincerely hope one day you will be.
As regards one thing in your reply, where you
wrote,
"The situation you describe in BC stems from using the process of peeling
off existing debt based money and applying that to a project as
'debt-free'funding when in reality it is absolutely not. Nor is it Social Credit
as I envision the concept."
I can fully agree with the latter sentence, but not really with the first
one. It was 'debt-based' money to the US government, of that there's
little doubt. But it was 'debt-free' to us, since we didn't have to pay it
back. (In fact, if I recall correctly, Premier Bennett loaned $450
million of it to Quebec for that Province to initiate their hydro-electric power
developments, since we didn't need it all at once. And made a pretty good
'interest' return on it in the process.)
The point is, though, the spending of that and other infrastructure
development funds did fuel an 'inflation' here in BC. At first it wasn't
very noticeable. But shortly it became a rather pressing problem, since
the raising of wage rates to try to keep up with rapidly rising consumer prices
made many BC exports increasingly uncompetitive. It also led to public
sector wage demands being made which tried to parallel settlements in private
industry. And when Premier Bennett tried to control that, it led to the downfall
of BC's most successful government.
It should be noted that Major Douglas, in giving evidence before an Alberta
Legislature committee was once asked:-
Q. ~ "Looking at Canada as a unit, rather than as Provinces, you
would consider~I would like to get your opinion on this because it is one on
which I know there are differences of opinion~would you consider that the
idea of the Dominion simply issuing new currency for the purposes of building
public works is a method of carrying into effect in any way the idea of social
credit?"
A. (Major Douglas). ~ "It would be absolutely
catastrophic"
Hopefully, one day, some time and some place, the 'Douglas' version of
Social Credit will get a fair trial. I think that place, wherever it ends
up being, will be quite pleased with the results.
Best regards,
Joe Thomson.
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