In view of bill Ryan's announcement, I hope this gets through because this topic had not run its course.
NZ's State housing Department was a normal Govt. Department, funded according to the annual Budget. I can think of no reason why it would pay 1% on its funds to the Govt., which certainly did not run up debt to its own Reserve Bank. I think that reference is confused with other operations for local bodies and private industry Boards. Apple and Pear marketing was another cooperative.
In forming our own Party policies, which include this sort of action, we have decided that the amount of new money needed will be limited, perhaps very much so. Money of this nature used for government expenditure (small g., including any Dividend paid.)would be debt free. But for Local Bodies, it would be necessary to spread what was available round as low interest loans, available to others as the first recipients repaid them. This is basically what was done in the 30's.
Whatever the method, badly needed money was put into circulation. And in those days, the trading banks were bound byreserve ratios, so Res. Bank money coming to them increased their base for lending.
Regards.
John R.
From: johngrawson@hotmail.com
To: socialcredit@elistas.com
Date: Sat, 2 May 2009 04:15:56 +0000
Subject: RE: [socialcredit] question regarding Australia and New Zealand during the Depression
Graeme, there's history somewhere about the founding of the Commonwealth Bank, and its financing of the Commonwealth Fleet (of merchant ships) to get your produce overseas. And possibly other activities. I read the story many years ago and forget the detail.
Regards.
John R.
> From: telergy@bigpond.com
> To: socialcredit@elistas.com
> Date: Fri, 1 May 2009 22:39:01 +1000
> Subject: Re: [socialcredit] question regarding Australia and New Zealand during the Depression
>
> News to me too, in Australia.
>
> Although our coins were all produced by mints which were owned by The
> British Mint until the 1960s, Australia did print it's own notes from 1915
> by a "Note Printing Australia" since 1915 or so. This was and is owned by
> our Reserve Bank,
>
> As to whether there was "monetary seignoriage" to bail us out of the
> depression, I will keep looking. Where's John Herman?
>
> Graeme Taylor
> ----- Original Message -----
> From: <william_b_ryan@yahoo.com>
> To: <socialcredit@elistas.com>
> Sent: Friday, May 01, 2009 9:00 PM
> Subject: [socialcredit] question regarding Australia and New Zealand during
> the Depression
>
>
> >
> > Ellen Brown is not defending her arguments at the present time, but is
> > focusing "on the more important work of exposing what is really going on
> > in the economy today and suggesting better solutions," so I'll put this
> > question to the list, and especially our Australian and New Zealander
> > subscribers. Perhaps someone will get back to us on this:
> >
> > It has to do with her assertion that during the 1930s and 40s, the central
> > banks of Australia and New Zealand accommodated their governments to spend
> > Greenback-type money into circulation for infrastructure projects, thus
> > helping those countries to avoid the effects of the Great Depression. For
> > example, in her essay dated March 6
> > http://webofdebt.wordpress.com/monetary-proposal/ she wrote:
> >
> > "A truly federal central bank would issue funds directly to the Treasury
> > as debt-free U.S. Notes, or as 'national credit.' This was done
> > successfully in Australia and New Zealand during the 1930s and 1940s. A
> > state-owned central bank funded public projects that put people back to
> > work, at a time when most of the rest of the world was struggling with a
> > depression brought on by a global shortage of bank-created money."
> >
> > This is news to me. Where did this come from? I am not aware that either
> > government did anything especially innovative or unorthodox during that
> > period.
> >
> > I am presently converting into plain text a document sent to me by Wally
> > Klinck, "Major C. H. Douglas Before The New Zealand Government's Monetary
> > Committee Notes of Evidence and Examinations With Correspondence
> > preliminary thereto" from 1934. This statement is from one of the initial
> > questions to Major Douglas, on February 24, 1934:
> >
> > "In this country we are suffering from an economic depression and it is
> > commonly known that we are suffering severely in consequence. How can
> > that be remedied in a land of plenty, and we have a land of plenty and
> > there is poverty and stress everywhere?"
> >
> > So from this question we know that any Greenbacker-type policy that might
> > have been introduced must have been introduced after this question was
> > asked, if New Zealand was relieved from the Depression before other
> > nations.
> >
> > This piece from the Internet suggests that New Zealand's monetary policy
> > helped that country recover from the Depression, but it says nothing about
> > Greenback-type money being spent into circulation. It says specifically
> > "fiscal policy was not the driver of recovery from the Great Depression."
> > http://antidismal.blogspot.com/2008/11/new-zealands-recovery-from-great.html
> >
> > I have also been studying the book, *Recovery from the Depression* By R.
> > G. Gregory, N. G. Butlin, published in 2002, which is a compilation of
> > several essays by various authors discussing the Depression experience in
> > Australia and New Zealand. Chapter 5 entitled "Depression and Recovery in
> > New Zealand" by G. W. Hawke is available online from the archive at
> > Googlebooks. I've seen nothing in that chapter that talks about
> > Greenback-type money.
> >
> >
> >
> >
> > ---------------------------------------------------------------------
> > Some introductory materials to the discussion topic of this list are at
> > http://www.geocities.com/socredus/compendium
> > You're subscribed to this list with the email telergy@bigpond.com
> > For more information, visit http://www.eListas.com/list/socialcredit
>
>
> --------------------------------------------------------------------------------
>
>
>
> No virus found in this incoming message.
> Checked by AVG - www.avg.com
> Version: 8.0.238 / Virus Database: 270.12.11/2089 - Release Date: 04/30/09
> 17:53:00
>
> ---------------------------------------------------------------------
> Some introductory materials to the discussion topic of this list are at
> http://www.geocities.com/socredus/compendium
> You're subscribed to this list with the email johngrawson@hotmail.com
> For more information, visit http://www.eListas.com/list/socialcredit
Find out with SEEK Salary Survey Earning enough?
---------------------------------------------------------------------
Some introductory materials to the discussion topic of this list are at
http://www.geocities.com/socredus/compendium
You're subscribed to this list with the email johngrawson@hotmail.com
For more information, visit http://www.eListas.com/list/socialcredit
SEEK - New Zealand's #1 jobsite Kick start your career now! |
RE: [socialcredit]
Reply to this message
