Coventry is the English city, of more than 200,000 population, which was so heavily bombed by German air raids in November 1940 and April 1941, with about 70,000 houses damaged or destroyed. An active Social Crediter of Coventry, Mr. Syd Conn, sends us a copy of "The Coventry Standard", May 14, 1954, in which the following news: The rates paid by Coventry residents are far from adequate to meet the needs of the city at the present time, the Lord Mayor of Coventry, Ald. H. B. W. Cresswell, stated on Saturday.
The Lord Mayor was pledging his support to the Social Credit Movement at a rally of leaders of the movement from all parts of the country, in the Beake Avenue Hall, Coventry.
The requirements of the city were governed by the amount of interest it was paying out on debts, said the Lord Mayor. "That, in effect, means that you are going to have a very small margin left to buy your requirements while you are keeping pace with the payments of your debts," he added.
Coventry could have been rebuilt much faster if the physical and material facilities of the world had been governed by a sensible financial system, said the Lord Mayor. Britain today was run under an eighteenth century financial system, which could not possibly be efficient under twentieth century conditions.