BROKEN HILL CHIEF WARNS ON FOREIGN OWNERSHIP

"The managing director of BHP, Sir Ian McLennan, warned today there were dangers in allowing excessive overseas ownership of Australia's mining industry." - The Herald, Melbourne, June 10th.

In all the castigation which come from the Socialists about BHP being a monopoly, it is seldom mentioned that BHP is Australian owned, controlled and directed. It ranks as one of the great mining and steel industries of the world, and has to compete on a world basis with world competitors for her markets including the Australian market. Figures of ownership are interesting, shares are held as follows. Australia 83.9 per cent - U.K. 9.8 per cent U.S.A. .2percent - others 1.3 percent. Against these figures we have those quoted by Sir Ian McLennan on the control of Australia's mining output by overseas interests. ln 1963 this was 36.8 per cent. By 1967 to 51.4 per cent, the latest figures available, but as Sir Ian McLennan points out the percentage has undoubtedly risen based upon the fact that since 1967 the investments of overseas interests in mining have increased.
He concluded that at the present rate of growth of overseas control the position by 1980 would be untenable.

Mining could be the key industry in Australia in the next two decades, and control will not lie in the hands of Australians but those whose real interests lie outside Australia. To increase the jeopardy of Australia's real interests the Liberal Government sets up the Industrial Development Corporation which will feed funds from international sources into Australian industry and effect a control through an agency which while ostensibly Australian would only reflect the policies of those international interests which channel funds through its doors. No wonder international socialists Whitlam and Cairns welcomed the establishment of the I.D.C.

What the BHP has done can be done again. Australian capital and know-how can develop our resources using the present banking structure. That is if the present banking policy was not dictated by the equivalents of Messrs Cairns, Whitlam and Coombs, of whom the latter's successor is following similar policies to socialise Australia. Government control through organisations like I.D.C. in association with international finance, lead directly to complete socialisation.

DR. CAIRNS EXPOUNDS HIS PHILOSOPHY

"In a given situation Communists can be right. If they are right I will never say that they are wrong. If a Communist stands for something that is right and if that thing concerns me I will stand with him for that thing." - Dr. J. Cairns, M.P. speaking in the House of Representatives. Page 1067 Hansard, April 14th, 1970.

Dr. Cairns had been quoting Professor Staughton Lynd. "The proper foundation for government is a universal law of right and wrong self-evident to the intuitive commonsense of every man; that freedom is a power of personal self-direction which no man can delegate to another; that the purpose of society is not protection of property but fulfilment of the needs of living human beings; that good citizens have the right and duty, not only to overthrow incurably oppressive governments, but before that point is reached to break particular oppressive laws; and that we owe our ultimate allegiance, not to this or that nation, but to the whole family of man."

Dr. Cairns commented that, "Professor Lynd wrote that as a summary of the great American tradition of radicalism, which is my political philosophy." By some peculiar process of mental acrobatics Dr. Cairns said this philosophy; which rejects "the protection of property", and says, "that we owe our ultimate allegiance, not to this or that nation, but to the whole family of man, is the very anti-thesis of Communism."

We can only conclude that Dr. Cairns believes the process enunciated in "education" of destroying fundamental values has now completed the full cycle, and that people will now happily go out and destroy "oppressive governments" which protect property and national pride and freedom, to replace it with an allegiance to the unpropertied "whole family of man." It may not be Communism, but of a surety, Marx, Lenin, Stalin, Khruschev, Laurie Aarons and Ted Hill would approve.

MR. GORTON'S LOSS OF CONCEPT

Mr. Gorton survived his sternest test in Liberal Party organisation by his blunt disavowal of centralism. He said he was not entirely sure of what the words "centralism" and "centralist" meant. "But if they mean a system or person who wants all power, all policy-making all administrative decisions concentrated in one place, then there are none of us here who could possibly be described as centralist, "Mr. Gorton said - The Age, 9 June 1970.

The seeming innocence of Mr. Gorton on such vital matters is not good enough, not when he is Prime Minister of Australia, wielding such enormous power to shape policies which effect the lives of every Australian. Such remarks coming from a schoolboy making his first excursion into social studies could be excused, but not when they come from the first executive minister of the country. However every indication from the policies pursued by Mr. Gorton is that he does not understand the philosophic roots from which they are derived.

The remarks quoted above were made to the Federal Council of the Liberal Party and so far as we know they were not challenged by anyone present. In fact the newly elected Federal President, Mr. R.Southey spent his time defending Mr. Gorton. Mr. Gorton went on to defend three socialist measures his Government is pursuing, the filching of State Rights over off shore mineral rights, the socialisation of the medical profession by a process of gradualism, and the establishment of the Industrial Development Corporation with all its inherent possibilities of eventual control of Australian industry by the same process of gradualism, recognised by Dr. Jim Cairns and Gough Whitlam as such, but not so recognised by Mr. Gorton. We may well ask why Mr. Gorton cannot see the obvious? The answer can only be that he is philosophically naturally a socialist and it is a natural reaction for him to centralise rather than decentralise.

The real core of the problem lies within the Liberal Party itself where the rot has gone so deep that it cannot deal with the Gortons. Sir Henry Bolte answering a questioner at Geelong during the Victorian elections said that the States had no chance of getting back their taxing rights. Central control of finance is the key to socialist Government. Mr. Gorton informed the Liberal Council at Canberra he had no intention of returning taxing powers to the States. If Mr. Gorton really does want to see the Federal system of divided powers between the central and state governments retained, then he must return the states sovereign financial powers. Otherwise he is like the man who protests that he wants to cure his alcoholism and will do anything to do so except give up alcoholic drink.

500 READERS CAN COMPLETE DEFICIENCY FUND

LOAN CURBS MAY BE EASED

"Employment figures show quick response to restrictions. Government imposed credit squeeze is expected to be reversed soon", - The Australian, 16th June 1970.

The correspondent mentions that the Federal Government's economic "advisers"; (this means the economists in the Commonwealth Treasury, and in the Reserve Bank, who have been trained at the London School of Economics) have been surprised at the quick response of the economy to measures to curtail the supply of money. Sifting through the usual morass of economic jargon, we learn nothing new. The standard economists have no answer to inflation, but deflation! What is evident is the sensitivity of the present balance in the economy. Hence the "surprise" of the economic experts at the "quick response".

We can predict, without any claims to cleverness, that any unexpected restrictive pressures from overseas; especially from the International Monetary Fund, would dislodge the Australian economy virtually overnight, with calamitous consequences. This would also apply to most other countries of the non-Communist world. Nor is there any daylight ahead. We are informed that the Government's economic advisers are fearful that, in view of the impending Senate elections, that the Government could indulge in an "excessively expansionary" budget, (bribes to the electors) requiring further monetary restraint next year.

This is the policy of "controlled inflation" now followed as standard practice; a go budget, followed by a stop squeeze. It is significant that this is the policy advocated by the London School of Economics men, and that the London School of Economics itself is the child of the English Fabian (Socialist) Society.

It is not surprising, therefore, that the policies of credit control, and taxation, now followed, are making the lot of the Small businessman, and farmer, increasingly difficult, especially the farmer. Only those businesses with larger reserves are able to withstand this gradual erosion of their bases, in turn based upon capital; hence the growing number of "takeovers" by larger local, and overseas, companies.

In the rural areas, the call from the "experts" are 'get big or get out'. Irrespective of the Government in power at Canberra, the "experts" in the jockey's seat in the Treasury, and the Reserve Bank, who are responsible for the enforcement of the policies they have learned at the (Socialist) London School of Economics, will guarantee the steady elimination of the small businessman, and farmer, and the drive towards monopoly in the various avenues of production. These policies must be exposed.

MASS MEDIA BELITTLE CHURCH

"There was a tendency for the mass-media to denigrate the Church, and make it appear a complete and utter failure, the Anglican Primate of Australia, Archbishop Sir Philip Strong, said yesterday". The Australian June 16th, 1970.

There does appear to be a growing, very slowly growing, awareness that there is something wrong with the mass media of communication and information (Press, Radio, T.V.). The American Vice-President has given them several blasts. Our own Postmaster-General has very recently let fly some home truths concerning the mass media. And now the Anglican Primate of Australia gives vent to valid complaint. There is no doubt at all that subversive elements have penetrated the mass media and are working furiously to belittle the moral and the decent, and to enthrone permissiveness.