15 April 1977. Thought for the Week: "To those
of you who still feel that money should be based on gold or silver,
I would point out that, in actual fact, money does not, never has, nor
ever will, depend on these metals. The real value of a banknote lies
in your belief, which amounts to a certainty, that, in accepting it
in exchange for your own goods or services, you in turn will be able
to exchange it for the things or the services you yourself require."
The Earl of Tankerville, in "Poverty Amidst Plenty"(1934) |
CANADIAN LESSONS FOR AUSTRALIANSMr. Eric Butler reports from Canada There is growing friction between the 'Federal and Provincial Governments, with the Marxists so successfully exploiting the anti-Ottawa feeling in Quebec that they hold the key positions in a Provincial Government working to take Quebec out of the Canadian Confederation. If the Marxists do not make the same mistake they did in Chile, where they pushed too hard too fast, it is possible that a Marxist base will be successfully built right at the strategic heart of the North American continent. When Mr. Pat Walsh, a Quebecer himself, warned years ago of the possibility of an eventual Marxist takeover in Quebec, there was the usual reaction of "But that couldn't happen here." It was Prime Minister Pierre Elliott Trudeau who fostered the policies, which have produced the present Canadian crisis. His attempts to impose bilingualism across the country did not produce a harmonious "pluralistic society", but has resulted in mounting friction. Ironically, having fostered the policies, which produced the Quebec explosion, Mr. Trudeau now presents himself, being a French-Canadian, as the only man who can hold the Confederation together. In spite of record unemployment and a high inflation rate, Trudeau's electoral stocks have clearly recovered. Not that the Progressive Conservatives offer any real alternatives. As Mr. Trudeau's "experts" are the same type who are advising the Fraser Government, it is not surprising that the Trudeau Government, in spite of rigid controls, has not been successful in reversing inflation. There are approximately one million unemployed, while Canadian agriculture, like Australian agriculture, is being destroyed. The Liberal immigration policy of the Trudeau Government has produced the same inevitable results, which are so evident in Britain and other countries. One cannot help but notice the impact in Toronto, where the fundamental Anglo-Canadian fabric of society is being rapidly shattered. Although written in the most cautious language, a Toronto board of education report has stated, "The spectre of racism is approaching" as a result of an influx of non-Europeans. Racial tensions are mounting rapidly. In 1971 there were only 616 West Indian students in Toronto. Now one school alone has a West Indian attendance of over 25 percent. In Vancouver it is the influx of Indians and Pakistanis, which is producing race friction in perhaps the most British type city in Canada. If the Australian Government will not learn from the British experiences, perhaps it might heed the Canadian experience. Admittedly this means practicing a policy of discrimination. But it is high time that more people frankly and openly stated that they support what in fact they instinctively practise. There was a time when a person who discriminated was admired. But the semantic saboteurs have taken fine, wholesome meaning words and perverted their meaning. In Canada and elsewhere, I see advertisements everywhere by the "gay" societies. Throughout the history of the growth of the English language; the term "gay" has meant the very opposite of the fostering of sexual perversion. Regrettably Canadian society manifests all the sicknesses infecting other Western societies today. There has been no more graphic example of this than the Prime Minister's young wife, Margaret, the mother of three small sons, going off to "do her own thing", and refusing to accept her responsibilities both as a mother and the Prime Minister's wife. She wants to be "liberated" so that, as she said in one statement, she can show the nipples of her bosoms at public functions! There is one other lesson, which Canada has for Australians; the political party game offers no hope of any salvation from growing disasters. Meeting with politicians at Ottawa left me with no doubt whatever that the only remaining hope for Western nations is that grassroots movements, directed by men and women motivated to serve, not to gain power for themselves, will grow to the point where politicians, irrespective of their labels, will either genuinely serve their electors, and uphold fundamental principles and values, or be swept from office by outraged electors. It is as certain as the sunrise that the election of a Conservative Government at Ottawa will no more stem the tide of disintegration than the election of the Fraser Government stemmed it in Australia. In the meantime one notes with hope and thankfulness the rapid upsurge of the Canadian League of Rights, increasingly attracting the best Canadians to its ranks. |
MR. JEREMY LEE
|
GUNN 'IN THE GUN'In a recent interview on television, Sir William Gunn, member of the Board of the Reserve Bank, and main instigator of the Australian Wool Corporation, was asked why he thought that his own considerable land empire had crashed; to which, among other things, Sir William Gunn said that he had over borrowed. The growth rate had been insufficient to meet loan interest and redemption, and nemesis had arrived. Australian woolgrowers might well ponder on this fact as the Australian Wool Corporation struggles with its huge debt burden. This year it has already repaid to the Commonwealth $85 million, and has to find a further $160 million before the year is out. With a current stockpile of 1.2 million bales, where will it get the money to repay the Treasury? according to the Financial Review (March 16th, 1977) 'from the private Trading Banks.' The old story of trying to borrow themselves out of debt. The Reserve Bank, if it was directed, could finance the Wool Reserve Price Scheme at 1% interest. But if woolgrowers are meek enough, the Bank will continue to bleed them white. Those who have held the New Zealand wool-marketing scheme up as an example to emulate might be interested to learn that New Zealanders now have part of their wool cheques compulsorily withheld under a new income retention scheme. No interest is paid on the money withheld, and it is not available to producers until five years after its original acquisition, unless they die first! It's an example of bureaucracy gone mad! |