Salient. The Newspaper of Victoria University College. Vol. 19, No. 6. May 31, 1955

Compensation for Disparity

Compensation for Disparity

The question now arises as to how this disparity caused by the flaw can be remedied. As the interest bill can be considered as a necessary charge by the trading banks to cover their costs of operation the most common-sense way seems to be to provide the people of New Zealand with the purchasing power to meet this charge without going further into debt. In other words to compensate them for this necessary charge.

The very essence of the Social Credit remedy is the insistence on the necessity to find out in any given period, a year if you like, Just what New Zealanders have produced and what purchasing power they have received to enable them to buy it (or exchanged for it). If there is a deficit, as Social Crediters believe under normal circumstances there will be, then the deficit must be made good by creating sufficient purchasing power debt-free. As in New Zealand taxation takes a good deal out of the pockets of New Zealanders then obviously the first use of this debt-free money must be to finance services at present financed by taxation.