The Fighting Programme Of The Social Credit Party – Part 1 Finance: Establish A Sane Economic System
.
LAST MONTH we published the Introduction to The Fighting Programme Of The Social Credit Party – see link below. The Social Credit Party was formed in the early 1930s. Led by John Hargrave – sometimes called Britain’s forgotten visionary – it promoted the Social Credit ideas of Major Clifford Hugh ‘C. H.’ Douglas.
The National Liberal Party regards both Major Douglas & John Hargrave as points of reference. By ‘point of reference’ we mean that we find some of what they said and/or did of interest. However, it does not mean that we put them on a pedestal, so to speak.
This is particularly so in the case of Major Douglas. We admire his alternative economic ideas, but have no time for his anti-Jewish views. To some extent, they were the ‘spirit of the age’ & effectively served as a cultural and historical go-to for some people (particularly in the 20s & 30s). However, we vehemently disagree with such sloppy, mistaken and poisonous thinking.
With the above in mind, the following is the Social Credit Party’s vision for a sane economic system.
>
The Fighting Programme Of The Social Credit Party – Part 1 Finance: Establish A Sane Economic System
1. Finance: Establish a Sane Economic System
.
Economic Freedom THE ECONOMIC FREEDOM AND SECURITY OF EVERY CITIZEN IN THESE ISLANDS TO BE ESTABLISHED.
.
The Monetary System Finance to be subservient to the Will of the People and to be operated on a debt-free basis.
.
The sole object of production is consumption: therefore the monetary system to be made to reflect the economic facts of Real Wealth Production.
.
Banking Banking and Financial Institutions to function as a National Book-keeping Service and not as money-lenders and credit manipulators.
.
Usury Usury to be abolished.
.
Basic Principals Of Social Credit The following basic principals of Social Credit to govern the financial mechanism of the internal economy of these islands in order to fill the existing gap between purchasing power and make the home market effective:-
.
a) Consumer purchasing power to be collectively equal, at any given moment, to the collective cash prices and services offered for sale to the consumer (irrespective of the “cost” prices of such goods and services as now calculated). Such purchasing power to be cancelled or depreciated only on the purchase or depreciation of such goods and services.
.
b) Credits required to finance production not to be supplied from savings but to be new credits relating to new production, recalled only in the ratio of general depreciation to general appreciation.
.
c) Distribution of purchasing power to individual citizens to be progressively less dependent upon employment. Wages and salaries to be progressively displaced by the National Dividend as productive capacity increases per man-hour.
.
Social Credit Mechanism The following mechanism to be immediately set up and put into operation:-
.
1. THE NATIONAL CREDIT OFFICE to be opened which shall calculate and authorize the issue of
.
2. THE NATIONAL DIVIDEND based upon the productive capacity of the community as a whole as a flat-rate share of the Nation’s Real Wealth to every citizen, whether in employment or not, and over and above wages, salaries, or dividends from investments.
.
3. THE PRICE ADJUSTMENT to be applied, whereby prices are prevented from cancelling out the increase in consumer purchasing power, thus avoiding inflation.
WITHOUT THE APPLICATION OF THESE THREE POINTS THE REST OF THE PROGRAMME OF NATIONAL REGERATION CANNOT BE CARRIED OUT.
.
Budget The Budget to show Real Wealth Production (including Imports) on the one hand, and Real Wealth Consumption (including Exports) on the other.
.
Taxation All forms of taxation to be systematically lowered and finally eliminated.
.
Land Ultimate ownership of land to be vested in the Crown. A National Land Office to be established and no transfer of real estate directly between either persons or business undertakings to be recognised without the approval of the Government.
.
Foreign Trade An Import-Export Clearing House to be established in order to facilitate international trade and to eliminate any kind of foreign financial ‘hold-up’.
.
• THIS ARTICLE should be read in conjunction with The Fighting Programme Of The Social Credit Party – Introduction https://nationalliberal.org/
Date: February 6, 2023
Categories: Articles