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The Correct Use of Money

on Tuesday, 01 December 1959. Posted in Social Credit


Money is only a mechanism by means of which we deal with things — it has no properties except those we choose to give it. A phrase such as "There is no money in the country with which to do such and so" means simply nothing, unless we are also saying "The goods and services required to do this thing do not exist and cannot be produced, therefore it is useless to create the money equivalent of them." For instance, it is simply childish to say that a country has no money for social betterment, or for any other purpose, when it has the skill, the men and the material and plant to create that betterment. The Banks or the Treasury can create the money in five minutes, and are doing it every day, and have been doing it for centuries. — Control and Distribution of Production, 9-10.

Looked at from this point of view, money is simply a ticket. A railway ticket is, in its truest sense, a limited form of money and differs from any other sort of money in that the owner of it only believes, and is only justified in believing, that he will receive in return for it a particular form of service, i.e.: transportation. — Warning Democracy, 15

Money the Agent of Distribution

The analogy of the "Limited" railway ticket is for all practical purposes exact, a railway ticket being a limited form of money. The fact that a railway ticket has money-value attached to is entirely subsidiary and irrelevant to its main function, which is to distribute transportation. A demand for a railway ticket furnishes to the railway management a perfect indication (subject, at present, to financial limitations) of the transport required. It enables the programme of transportation to be drawn up, and the availability of a ticket issued in relation to this programme enables the railway traveller to make his plans, in the knowledge that the transportation that he desires will probably be forthcoming. Social Credit 62

The measurement of productive capacity takes place, or should take place, in regions other than those occupied by the ticket office, or its financial equivalent, the bank: and the proper business of the ticket department and the bank is to facilitate the distribution of the product in accordance with the desires of the public and to transmit the indication of those desires to those operating the industrial organisation, to whom is committed the task of meeting them. They have no valid right to any voice in deciding either the qualifications of travellers, or the conditions under which they travel. Social Credit 63.

A Monopoly Controls the Tickets

We have to realise that there exists, and is being exercised for anti-social purposes, a monopoly of the ticket supply, without which distribution cannot be carried on. That monopoly has to be broken. How it is to be broken is a very serious problem, a problem that has got to be faced and solved, or the civilisation with which we are acquainted will shortly cease to exist.

Manchester Economic Research Association

High Finance On Its Defence

So rapid was the progress made by these ideas between 1919 and 1923 both in this country and abroad, and so constantly did ideas derived from them appear in the Press, that the interests threatened by them became considerably alarmed, and took what were, on the whole, effective steps to curtail their publicity. In this country the Institute of Bankers allocated £5,000,000 to  combat the subversive ideas of ourselves and other misguided people who wished to tinker with the financial system. The large Press Associations were expressly instructed that my own name should not be mentioned in the public press, and no metropolitan newspaper in this country or the United States was allowed to give publicity, either to correspondence or to contributions bearing upon the subject. In spite of this, the Canadian Parliamentary Inquiry at which I was a witness managed to expose on the one hand the ignorance of even leading bankers of the fundamental problems with which they had to deal, and on the other the lengths to which the financial power was prepared to go to retain control of the situation. — Warning Democracy 138

The New Zealand Social Crediter for June 15, 1959

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