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10 Free issue of MICHAEL
by Louis Even
A debt-money system
The debt-money system introduced by Oliver
into the Salvation Island made the little community
sink into financial debt in proportion as it developed
and enriched the island by its own work.
This is exactly what happens in our civilized
countries, is it not?
Canada of today is certainly richer, in real wealth,
than it was 50, 100 years ago, or in the pioneers’
age. But compare the national debt, the sum of all
public debts of Canada today with this sum 50, 100
years, three centuries ago!
Yet the Canadians themselves produced this
enrichment by their labour and their know-how.
Then why should they be collectively indebted for
the result of their own activities?
For example, consider the schools, the munici-
pal aqueducts, the bridges, roads and other fabrics
of public character. Who built them all ? Builders of
the country. Who supplied them with the needed
materials? Manufacturers of the country. And
how come they can be employed in public works?
Because there are other kinds of workers who
produce food, clothes, shoes, who supply all the
things and services required for the wants of the
constructors and manufacturers.
Thus the whole population of Canada by its
work of different kinds, produce all those develop-
ments. If we must obtain goods from abroad, we
send other goods abroad in exchange for them.
Now, what do you see? Competent and skilled
people are required for the construction of schools,
hospitals, bridges, roads and other public works.
All the members of society agree to compensate
these workers for their contribution.
You pay much more than the double price
So far, no problem. However, the population is
made to pay more than the price of what it pro-
duced. Their own production — a real enrichment
— has become for the Canadians a debt burdened
with interest. When years add to years, the sum of
the interests can equal or even exceed the amount
of the debt imposed by the system.
It happens that the population may have to pay
two, three times the cost of what its members pro-
duced.
In addition to the public debts, there are indus-
trial debts, also loaded with interests. They compel
the manufacturers and contractors to increase their
prices beyond the cost of production, in order to
reimburse the capital and the interests; otherwise
they would become insolvent, bankrupt.
Both public and industrial debts are paid, plus
interest, by the Canadian population, to the finan-
cial system. We pay taxes for the public debts, and
a surplus of price for the industrial debts. Prices are
swelling while the purse is flattened by taxes.
A tyrannical system
These and many other facts are indicative of a
money system, a financial system which controls
instead of being a servant; a system to dominate
the people — as Oliver dominated the fellows of
the Island before they rebelled.
And if the money masters refuse to lend, or if
they make their conditions unbearable for the public
bodies or for the manufacturers, what happens? It
happens that the public bodies give up many pro-
jects, no matter how urgent; and the manufactur-
ers give up development or production plans that
would answer to real needs of Canadians. This is a
cause of unemployment. And those who still have
something, or who earn a salary, must be taxed to
prevent the unemployed from starving completely.
Can you imagine a more tyrannical system, with
so baneful effects on every Canadian?
A bar to distribution
And this is not all. Not only the money system
indebts the producers, or paralyzes the production
it refuses to finance, but it is a wretched financial
tool for the distribution of the goods.
Notwithstanding the fact that stores, shops and
warehouses are full, and that everything is at hand
for an even greater production, the distribution of
the goods already produced is stunted.
You can obtain only that what you can pay. In
face of an abundant production, there should be an
abundance of purchasing power, of money in the
wallets of the people. Such is not the fact. The reali-
From parable
to reality