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May 30 1975. Thought for the Week: "Soviet Government desire Guarantee (sic) Trust Company to become fiscal agent in United States for all Soviet operations and contemplates American purchase Eestibank (former Estonian Bank) with a view to complete linking of Soviet fortunes with American financial interests."
William H. Coombs, reporting to the U.S. Embassy in London, June 1, 1920. Quoted by Dr. Antony Sutton recent Research Fellow, Hoover Institution, Stanford University, U.S.A. in his work - "Wall Street and the Bolshevik Revolution". ($9.00 post free from G.P.O. Box 1052J, Melbourne. Vic. 3001)
THE REAL SIGNIFICANCE OF THE W.A. PARTY POLITICAL CONFLICT
Mr. Eric D. Butler reports from Perth at the
conclusion of a two-week programme in West Australia
The decline was further emphasised when at last year's Federal Elections, the Country Party lost its only two W.A. seats to the Liberal Party. It is true that re-distribution made it more difficult for the Country Party to hold Moore and Canning. But the Queensland State Elections showed that Mr. J. Bjelke-Petersen was able to win large numbers of votes in urban areas with his type of leadership and positive policies. Attempts to have the National Country Party in W.A. support the "Petersen Plan" were rebuffed by a number of prominent figures in the Party, some maintaining such a bitter anti-League of Rights attitude that they refused to consider any policy, which the League of Rights was supporting.
But the rapidly growing electoral support for
the "Petersen Plan" has created a changed situation in which the National
Country Party could use its break with Sir Charles Court and the Liberal
Party to inject a completely new note in West Australian politics. I
was asked at several public meetings about the Liberal-Country Party
split, and my views were also sought by several National Country Party
officials. I pointed out that I was not involved in party politics,
and found most of the inter-parry controversies petty and often only
involving power struggles and personality clashes. But I did observe
that the National Country Party had only three options:
"Recent vicious attacks on the League of Rights in the West Australian Legislative Assembly provide further evidence that the Labor Socialists throughout Australia fear the growing influence of the League through its grass-roots educational activities. Speaking in the W.A. Parliament on April 10th, Mr. Bryce re-hashed all the old smears about the League, his real purpose clearly being to frighten Liberal and Country Party Members by claiming that large numbers of them were being influenced by the League. I only wish the influence was as great as Mr. Bryce claims!
Labor Member Burke also supported the Bryce anti-League attack. If the Liberal and Country parties are genuine in their claims to be opposed to the Whitlam Government's Socialist programme, then they must start attacking the financial policies, which are being used to advance this programme. If the Queensland Premier had waited until he obtained agreement with Liberal Party leader, Sir Gordon Chalk, on his anti-inflation policy, he would never have given Australia the only real lead a political leader has provided for a long time.
"If the National Country Party in W.A. uses its independent status constructively in the W.A. Parliament, while giving the type of lead given by Premier Bjelke-Petersen, its break with the Court Government could lead to its increased electoral support and also have a marked impact on many of the Members of the W.A. Liberal Party. It could help the overall anti-Socialists battle.
Never before have electors been so willing to listen to the League. But its leaders will require much more vision and courage than has been shown to date. West Australian League actionists should see the new situation in State politics as a challenge to intensify their rapidly growing activities with some healthy competition.
A REMINDER FOR ERIC BUTLER'S MELBOURNE ADDRESSWe make a last request that all Melbourne and near-Melbourne supporters make every effort to be present at The Victoria, 215 Little Collins Street, Melbourne, next Monday evening, June 2nd. 8 p.m., to hear Mr. Eric Butler give an address dealing with the great issues of the day. Entitled "The Traitors of Western Civilisation", this address has generated tremendous enthusiasm in New Zealand, the U.S.A., Canada and Southern Africa. Tell all your friends and others who should be present at a time when Australia faces its greatest peril.
The "Weekly Review" (U.K.May 21st) turns
the spotlight on Mozambique, Portuguese province in Southern Africa,
to receive "independence" on June 25th. Mozambique will be as "independent"
as Czechoslovakia, and Lithuania. To quote the "Weekly Review":-
"A Soviet K.G.B. detachment has arrived in Laurenco Marques, Mozambique,
to organise and train the new FRELIMO police, and also to assist FRELIMO
leader, Samora Moises Machel, in establishing the 'United Movement for
the Liberation of Zimbabwe (Rhodesia). Mozambique is to receive its
complete independence from Portugal on June 25th, of this year, and
all Portuguese army personnel will have to be withdrawn by this date.
Machel has declared that Mozambique is the first Marxist People's Democracy
in Africa, and reaffirmed his determination to 'liberate' Rhodesia.
The Australian News of May 8th, published
in London by the "Australian Information Bureau", quotes Australian
Prime Minister Whitlam as saying that the United Kingdom should remain
in the Common Market. Mr. Whitlam says that "his view that Britain should
remain in the Community had not caused a ripple of criticism in Australia....Mr.
Whitlam said it would be of no advantage to Australia for Britain to
withdraw from the Common Market."
We learn from the same issue of The Australian
News quoted above that Australia is pledged to implement "reforms"
in the Cocos Islands to help the people there towards "self-determination."
But Australian delegate to the United Nations, Mr. Harry Hinchchiffe
"warned that this would take time. Addressing the U.N. Decolonisation
Committee Mr. Hinchchiffe said the Cocos Community was generally conservative
and not receptive to change. They were also a happy and contented people.
Economically the population of the island was dependent on the Clunies
Ross family which circulates its own paper money on the island." The
small community of 700 people in the Cocos Islands may be "happy and
contented", but the international do-gooders are determined to impose
upon these people the same type of "progress" they have imposed elsewhere.
And of course they must do away with the money circulated by Mr. Clunies
Ross, which has a very low depreciation rate, and use the type of money
circulating in Australia, now depreciating at the rate of over 17 per
cent a year.
A brutal act of barbarism is being set in motion. Mr. Whitlam only very recently has scorned the possibility of any blood bath in South Vietnam as a result of the Communist victory. Weekly Review (U.K. . .May 21st.) reports that the expected blood bath has already commenced. Catholic Church sources provide reports that at Phanrang the Bishop and five priests were executed in the market place; South Vietnamese army officers executed, and beheadings of members of the local police. At Ban Me Thout the Bishop was executed, two priests as well, bullets in the back of the head, and some 450 schoolteachers in the region suffered mass execution. Further reports of mass executions are coming in.
Senator Webster has recently said that he fears for the sanity of certain members of the Parliamentary Labor Party. He said that some of their views and policies had an air of the unreal about them. This is a thumping allegation. Nevertheless, we would have to go along with it. "Whom the Gods wish to destroy, they first send mad". (Proverb of ancient Rome.)
At least one Liberal is not limp. Senator Ian Wood, Queensland, has said that his colleagues in Opposition at Canberra were weak and "jelly-backboned" with respect to their stand on the Racial Discrimination Bill. We agree. Senator Wood said that he was strongly opposed to the Bill, and that they should have thrown out this legislation. It is a pity that there are not a few more Senator Ian Wood(s) at Canberra. Then the Party Members could not be justly termed the "Limp Liberals."
Dr. Geoffrey Dobbs, in British On Target (May 24th,) comments upon a political ploy, now being engineered in Britain to influence a YES vote on the Common Market. Dr. Dobbs comments: "many....are suffering from an illusion when they suppose that an anti-Market vote on June 5th will lead to even more Left-wing policies being adopted in Britain, if not to a Left-extremist take-over. The reverse is more likely to be true, since an anti-Market vote will land this (Socialist) Government in such a fix that it may be possible to get rid of them; while a pro-Market vote will confirm it in power until it has broken the back of all resistance to the State Monopoly it calls Socialism. "The illusion is based upon the absurd idea that Messrs. Benn, Foot, Mrs. Castle etc....who have been selected as the hatchet-men of Socialism, and are therefore attracting the main burden of unpopularity, are a separate clique of 'extremists' who are acting in defiance of the will of their more moderate colleagues, and will not be allowed to continue doing so if this Government is confirmed in office. It is pitiful the way this transparent maneuver of identifying these Left-extremists with anti-Marketism, accompanied by outrageous Leftist threats (e.g. to pension funds, and to private patients) is succeeding in bouncing Tory and moderate votes into the pro-Brussels camp.
A strange Jewish voice has raised itself to warn Jews that they should not oppose the entry into Australia of members of the Palestine Liberation Organisation. Mr. Barry Cohen, M.H.R. for Robertson, N.S.W. is so hostile to the Australian League of Rights that his "democracy" has become twisted. He wants League officials hit with punitive fines, and even imprisoned. Perhaps he is one of those whom Senator Webster (above) has in mind. Mr. Barry Cohen (The Age, Melbourne, May 15th) says that Jews ran the risk of alienating many politically active and freethinking people. Such people (Mr. Cohen said) often supported the Israeli position, but believed the issue of free speech was at stake. Mr. Barry Cohen isn't interested in freedom of speech for the Australian League of Rights. That's "different". Mad? Hypocritical? Intellectually dishonest? Mr. Barry Cohen may be in for a shock.
Proper Functioning of a Financial SystemWe do not suggest that the Government should issue money in unlimited amounts. If it embarked upon a policy of creating money to assist consumption, the condition, which applied to the creation of the magic money -(goods, labour, and skills are available) -, would still need to be observed. If so much money were issued that it exceeded the nation's ability to produce, or if it exceeded the total prices of the nation's production, we would then have, in reality, the oft-quoted theoretical situation of too much money as against too few goods. And eyen though the money might not be 'chasing' the goods, and would not have the tragic effects of the present imbalance (too many goods chasing too little money), it would none-the-less be most unsatisfactory.
The purpose of any economic system should be to use the skills and resources of the nation to produce all that its citizens need, and then to distribute this production to all who want it. In other words, the amount of money in circulation at any time should approximately equal the total prices of goods available at that time. In order to calculate the amount of money which could be safely issued as deficiency money, the Government would need to be able to estimate, at any given time, how much production money was in circulation and also the total prices of goods on sale. The amount, which would then be issued as deficiency money, would be the difference between these two figures. With modern methods of collecting statistics, and with the use of computers to speed calculations, this would be a very simple task.
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