GET YOUR ANTI-FREEZE FOR WINTER

"The Reserve Bank will pump $300 million into the trading banks this month to make sure Australia does not suffer a 1974 style credit squeeze." The Sun (Melbourne) April 9th.

There is one principal reason for this injection of large volume of credit into the Australian economy at this time - taxation. It is being squirted in, so that the Taxation Commissioner can come and siphon it out again, but leaving Mr. Businessman with an increased debt. The Taxation "take" for the June quarter is in excess of $1,500 million. Many companies increase their overdrafts to meet the tax demands. The Banking System is unable to meet the requirements (financial) of the business world currently because of the restriction of their liquidity as a result of its drain into Mr. Phillip Lynch's bobby dazzler bonds.
Bank "liquidity" is the base for their lending programmes: The more of it they have, the larger the volume of credit (overdrafts) they can create at interest, of course. (For interesting details read "The Money Trick"; price $1.20, post free from all league offices)

Mr. Lynch (busily at work with his mop) has "mopped up" over $1,000 million with his new bonds; and most of this amount has come from building society deposits (so that they now are forced to pay higher interest to attract deposits back to them) meaning higher interest rates for building society borrowers: dearer housing. Fixed deposits in banks have been shot into the new bonds, and this has eroded bank liquidity.

There are other reasons as well, and foremost in the Government's thinking would be the continuance of business viability. Mr. Fraser and Mr. Lynch don't want any more Mainline crashes, and Cambridge Credit Collapses. Failure of businesses, big and small, means unemployment; and unemployment means loss of votes, and the possible loss of those nice ministerial salaries. So what do they do? A neat cosmetic job. Release just enough money for business to stay afloat.
If the credit wasn't released the story would be that hundreds of businesses, large and small, would go to the wall. The credit has only to be released for a few months; the Taxman will scoop it all up again.

NATIONAL SECRETARY OF INSTITUTE OF ECONOMIC DEMOCRACY REPLIES TO 'BULLETIN'

Mr. Jeremy Lee sent the letter below to the Editor of the (Sydney) Bulletin in reply to a criticism of the Australian League of Rights in the form of an article by Mr. Peter Samuel, in its issue of April 10th. 1976.

Dear Sir, Peter Samuel's article -"The Rabid Right Re-emerges", is pretty rabid itself ("Bulletin-April 10th.) His customary lack of pre-occupation with the facts has never been more evident. In the process he has done the National Country Party an injustice, apart from misrepresenting the League of Rights. Could it be that Peter Samuel has his own little axe to grind?
Why, for example, did he fail to mention Doug Anthony's subsequent admission that his charge that the League was 'pro-Nazi' was inappropriate? It was, one imagines, a realisation by the Leader of the Country Party that many League members had been fighting against Nazism whilst he was still in short pants.
Why did Peter Samuel fail to mention that the Queensland Country Party publicly disassociated itself from Mr. Anthony's wild and inaccurate Charges?
Why did he fail to mention the serious embarrassment experienced by not a few Country Party officials at the 'confidential' report prepared, allegedly by Peter Warwick, the Federal Secretary of the Country Party at the time? Confidential, one assumes, because so little of it could stand the cold, hard appraisal of an objective audience. More than once public denials were made as to the very existence of the report in some quarters, even while it was being surreptitiously circulated in others.
Why did he fail to mention that the reason for Ralph Hunt's outburst against the League in 1972 was an attempt to extricate himself from a situation entirely of his own making? Having paid tribute to the League at a rural meeting in Western Australia Mr. Hunt was apparently unable to stand by his views before a wider and more critical audience.
The tone of Peter Samuel's article, apart from its inaccuracies, seems to imply that political representatives should spurn both 'right' and 'left', and confine their attentions to the Samuellian definition of 'centre'. Such categorisation is more in keeping with. Huxley's Brave New World than with constitutional democracy."

FROM BRITISH 'ON TARGET'

U.S. One Worlders Encourage Italian Reds. (issue of April 10th)
This column has previously mentioned links between the Italian Communists and the Rockefeller controlled U.S. Council On Foreign Relations (C.F.R.) a body, which behind a form of respectable names on the letter-heading, has for half a century used its influence to direct U.S. foreign policy in favour of One Worldism and a merging with Communism.

Fresh evidence of this appeared in 'The Observer' (Jan. 4th. 1976) which reporting U.S. concern with the advance of Communism in Europe stated: "There is, though, within the State Department and the C.I.A a significant measure of disagreement with this approach. A Harvard Don argues in ... 'Foreign Policy'(the Council on Foreign Relations 'insider' paper) that Washington should instead try to influence the Italian Communist Party in a direction favourable to fundamental U S. interests'. This echoes what some Government officials say; that treating the Italian Communist Leader, Berlinguer and his followers as reformers carries less risk than cold-shouldering them".

"Down the years the arguments used by U.S. policy makers for supporting Communism is that the Reds are reformers; China, Cuba and Cambodia were all sacrificed on that altar.

"It is apparent that the pro-Communist elements in U.S. Government are as powerful today as they were in the powerful days of Alger Hiss. If the west is to survive, a complete clean-out of the higher levels of the government, intelligence, media and academic fields is called for."

AUSTRALIAN BROADCASTING COMMISSION TAKES A GRILLING

The political and media obsession with numerical balance - column inches or on-time air - had tended to distort news values; The General Manager of the A.B.C., Mr. Talbot Duckmanton, said yesterday. - The Age (Melbourne) April 12th 1976.

Mr. Duckmanton did raise some stimulating points in his address to a Liberal Party convention in Brisbane. We are in agreement with Mr. Duckmanton that "equal inches" or "equal time" do not guarantee that a balance of views has been achieved. In fact this "equality" of exposure in the media need not necessarily mean very much at all. Why? It's the way it's done.

There are many ways of killing a cat. The type of questions that are asked; the inflexion of the voice; the innuendos; sweeping generalisations; condemnations by association. All these are the box of tricks of an experienced interviewer, and he/she can bring them out skillfully for use in the service of his particular bias if any. And most interviewers on the A.B.C. are well biased towards the Left.

Such an interviewer can do more harm to a person, or point of view in five minutes than can be corrected, or "balanced" by a less skilful approach in half an hour. Mr. Duckmanton was right enough when he stated that many complaints concerned commercial stations (and channels). We know this is right; we have seen, for example, the race issue presented in a most inflammatory manner on a Melbourne commercial T.V. channel.

There was no doubt in our minds that the purpose of the current affairs programme in question was to inveigle inarticulate viewers at large into attempting to defend Australia's traditional immigration policies in the company of skilled performers; including no less a colorful personality than Mr. Al Grassby himself. This programme took place about the time that the Racial Discrimination Bill (now Act) was being debated, and was quite obviously intended to knock out some of the public opposition to the Bill.
As it transpired the Senate took the vicious "teeth" out of the Act; but it should not have been passed at all.

The Liberal-N.C.P Opposition (at that Time) were alarmed that they might alienate the New Australian vote if they were NOT seen to be in disagreement with racial discrimination. Quite ridiculous; the majority of the Europeans have much the same views on racial issues as the majority of Australians. We did not see any repetition of this outrightly subversive T.V. material on the channel in question, and we believe that protests to the advertising sponsors had the desired effect. It is a pity that individuals have no such ready sanctions with the A.B.C. We know that if a Board of Directors of a sponsor company sees letters of protest concerning a T.V./radio programme advising that patronage of their product/s will be withdrawn, then the effects are electric. The programme Stops.

The League's view is that the A.B.C. has a lot going for it, and it is a pity that it can't clean up its current affairs programmes, and rid this area of subversive influences. The managerial structure is obviously top heavy, and there's too much bureaucracy. The ABC's drama, musical, comedy and other programmes are first-class. The Commission does a service of national importance to Australia in promoting symphony orchestras and bringing great instrumentalists and artists of world renown to this country for our cultural benefit. Mr. Duckmanton also said that politicians recognise that the ABC is the only national information service. We doubt the news services of the commercial TV channels would agree with this statement.

BRIEF COMMENTS

The following important item was published in "Weekly Review" (U.K.) March 31st; ... "The Queen's Prerogative is being questioned by (British) Labour Party Marxists encouraged by the energy minister Mr. Benn. A committee under his chairmanship seeks to remove the Queen's right to dissolve Parliament and call a general election. They argue that the Speaker of the House of Commons should have this power. "It seems that the British socialists have learned quickly from the lesson of their Australian brothers, who had to face an unwelcome election when the Queen's representative, took the unprecedented step of dismissing Australia's most rotten government in modern history. The Queen has always acted upon the advice of her minister's. But what if a Marxist government should take control? The Queen's prerogative could be distinctly awkward.

A Students news-sheet from one of the universities in Melbourne re-prints a statement, which according to this sheet, was printed in The Australian March 18th. The students newssheet titles the article "Go Tell It To The Fairies", which follows:. . . "Nigerian writer Wole Soyinka said to his white audience at the Adelaide Arts Festival:... 'I am just ministering to your desire for self-flagellation. Audiences of white intelligentsia are the most self flagellating body in the world. They tend to drop every card, and say, guilty, guilty, please … I see it all the time, in the lack of challenge for points which are obviously debatable."
The university students' sheet asks the question. . . "Who paid Mr. Soyinka's fare to Australia to tell the Adelaide Festival Fairies what it in particular, had been saying for years. The League's opinion is that if it were paid by a Communist-front organization it is the last trip that Wole Soyinka will be having.

We have been watching the pronouncements and activities of the Young Liberal Movement for some years and we don't like what we observe. Now young Libs, are calling for the resignation of Sir John Kerr, the Governor -General, whom the Young Libs say is no longer regarded sufficiently favourably by Australians. The Young Libs are really out of step with the Liberal Party, which supports the Governor General as do the majority of Australians, even now, so soon after the political explosion last December (1975) We firmly believe that more and more Australians will give their support to the Governor-General when they have had the opportunity to examine the issues more deeply for themselves, and the League intends to help our countrymen do just this.

Planned Obsolescence