A NEW CHARTER FOR AUSTRALIA

A Policy For The People

THE FIRST ESSENTIAL STEPS:

TO END Financial Chaos, Debt, and Poverty in a Land of Plenty.

TO END the cause of taxing the people to pay
interest on the Bankers‘ Debt-money.

TO PAVE the way towards a true standard of life.

OBJECTIVE: Justice, Freedom and Security for all

CONTENTS:
Section 
(1) Labor's Official Policy on Finance.

(2) Our Way of Escape: Some Sections of the Banking Commission Report

(3) Thirteen Charges Against the Present Debt System

(4) Some Notable Admissions.

(5) Principles Amplifying Labor's Policy—-
 An Ideal Objective.

By STANLEY F. ALLEN, F.C.A. (Aust.) ,
Chartered Accountant, 88 Pitt Street, Sydney, N.S.W.

"Now when our land to ruin's brink is verging,
In God's name let us speak while there is time;
Now, when the padlocks for our lips are forging,
SILENCE IS CRIME."J. G. WHITTIER.


A MOVE IN THE RIGHT DIRECTION.
A SUMMARY OF FINANCIAL REFORMS AS LAID DOWN BY THE LABOR MOVEMENT.

1. The Commonwealth Bank to be developed on the following lines:
(a) A nation-wide Trading Bank handling the ordinary business of the community,

(b) A Savings Bank performing the ordinary functions of sum a.
Bank; and
(c) A Credit Foncier System for the purpose of pr  -  _,,g.6~ W,
to primary producers and home builders. 
r 1 \ ' ‘ 0'
. .. p
2. The following is adopted as a declaration of polic   xi  
tion thereof. ;;»§.~,% -xii  iii?‘-‘ ~
-.0,     ".‘»=§-R‘, 4
PURPOSE. I
The utilisation of the real wealth of Australia to ensure a maximum
standard of living consistent with the productive capacity of the Common-
wealth through national control of its credit resources and the establishment
of an efficient medium of exchange between production and consumption.
PRINCIPLES.
(1) The direction and control of credit resources and banking to be vested
in the Commonwealth Bank, operating under the powers and responsi-
bilities-defined by the Commonwealth Parliament.
(2) The ensuring of essential community purchasing power by the organisa-
tion of employment and the expansion of social services to enable Aus-
tralian primary and secondary industries to operate at their maximum
capacity.
(3) The control of interest rates to reduce the burden upon public and private
undertakings.
(4) The financing by the Commonwealth Bank at the actual cost of issuance
and service of public works at not less than award rates to aid national
development.
PLAN OF ACTION.
(1) The operation of the Commonwealth Bank to be removed from and made
entirely independent of private banking interests and free from sectional
influences or constraint.
(2) The abolition of the Commonwealth Bank Board and the re_- 1:. - ' -1
ment of the original method of control as set up at the timg;',».I_'\@1- Q
monwealth Bank was founded.  (
(3) Expansion of the bank’s business as a trading bank, with b ' iin I
all suitable centres, in vigorous competition with the private ‘banking
establishments. .
(4) A statutory provision that the banking of all public bodies shall be
reserved for the Commonwealth Bank.


NATIONAL CREDIT.
A National Credit Advisory Authority will be set up to collaborate with
the Government and the Bank to plan the investment of national credit and
thus utilise to the fullest extent the real wealth of Australia.
Page TWO
Our problem is distribution, not production—and in a, machine age it is
more an unempayment problem than that of unemployment.
Objects to attain include: _
(a) To finance the building of homes and to adjust mortgages at present
existing to present values by amortising private mortgages and replacing
them with loans issued under the authority of the Commonwealth Bank.
(b) To plan future agricultural development with loans issued at nominal
rates of interest to promote closer settlement and to effect complete
adjustments of existing farm mortgages.
(c) To plan the extension of Australian secondary industries to secure a
maximum of industrial self—sufficiency, and to provide for effective
transport services for the nation.
OUR WAY OF ESCAPE FROM DEBT AND
EXCESSIVE TAXATION AND POVERTY, BY
A PROPER MONETARY SYSTEM
The Australian Royal Commission on Banking (July, 1937), whose inquiry
was conducted by men having strong leanings to the present system, came
to certain radical and vital conclusions, notwithstanding their orthodox out-
look. Note these excerpts from the Commission’s report.
OBJECTIVE.
CLAUSE 516-
“The general objective of an economic system for Australia should be
to achieve the best use of our productive resources, both present and future.
“This means the fullest employment of people and resources under
conditions that will provide the highest standard of living. 
“It means, too, the reduction of fluctuations in general economic activity.
“Since the monetary and banking system is an integral part of the
economic system, its objectives will be to assist with all the means at its
disposal in achieving these ends.”

RESPONSIBILITY.

PART OF CLAUSE 530- A
“The Federal Parliament ultimately is responsible for monetary policies,
and the Government of the day is the Executive of the Parliament.”
COMMONWEALTH BANK‘ OWNERSHIP
PART OF CLAUSE 519-
“The Central Bank should be the Commonwealth Bank, organised mainly
in the form in which it exists at present. Because its sole concern is the
general public interest, the Central Bank should be publicly owned and
controlled.
PART OF CLAUSE 522-
“The function of the Commonwealth Bank should be to regulate the
volume of credit and currency in the light of the general objective of the"
monetary and banking system. . . . The Commonwealth Bank should also
T851119/fie the Currency so that in kind and in amount it is always adequate
to the requirements of the community. The Commonwealth Bank should,
therefore, have at its disposal powers sufficient for the discharge of these
responsibilities.”
Page Three
“What a man thinks out for himself, he never forgets." So read up the
questions that matter. Ask: Why is there Debt, Taxation and Poverty in a
land of plenty?
RELATIONSHIP TO TRADING BANKS.
PART OF CLAUSE 538-
“On their part, the trading banks and the financial institutions must
co-operate with the Commonwealth Bank. In the end, the responsibility
must rest on the Commonwealth Bank to enforce its policy, and on the
trading banks and other institutions to conform to the policy and to assist
in carrying it out.”
PART OF CLAUSE 504—
“Because of this power, too, the Commonwealth Bank can increase the
cash reserves of the trading banks. For example, it can buy securities or
other property; it can lend to the Governments or to others in a variety of
ways; and it can even make money available to Governments or to others,
free of any charge.”
This admission that the Commonwealth Bank “can make money avail-
able to Governments or to others free of any charge” is of the utmost impor-
tance for the future of Australia.
Often, when it is suggested that the Commonwealth Bank make money
available for Governments and industry “free of any charge,” there is a
wail and cry from the “sound financiers" that this would lead to inflation,
but THEY HAVE NO COMPUNCTION IN ALLOWING THE PRIVATE
TRADING BANKS CONTINUALLY TO CREATE AND LOAN THEIR
COSTLE!'<F‘-TO-CREATE DEBT MONEY AT INTEREST.
Mr. R. W. Gillespie, Chairman of Directors of the Bank of New South
Wales, at the Annual Meeting of Shareholders of that bank, in November
last (194m admitted fl"-at “The Banks subscribed the whole of the Govern-
ment’s first War Loan." Is there any wonder that taxes and poverty increase
when millions are borrowed in this manner?
PRIVATE CONTROL OF CREDIT.
“No nation can be really free where a financial oligarchy is permitted
to hold domination and no democracy can be aught but a name that does
not shake it from its throne.”
f “Cur present privately controlled monetary system is the greatest monopoly
o e age.
While small businesses may be allowed to exist for a time, they find
themselves eventually being swallowed up by big combines and trusts and
gen, lalter, these combines become dominated and controlled by the money
onopo y.
HOW THIS MONOPOLY CREATES MONEY.
Irving Fisher, Professor Emeritus of Economics at the Yale University,
explains the money trick: I
“When you borrow 500 dollars ‘from a Commercial Bank, it is quite
different from borrowing 500 dollars from a friend.
“When you borrow from a friend, the transaction adds 500 to your cash
and takes 500 from the cash of your friend.
“The total sum of money in circulation is not changed, but borrowing
500 dollars from a Commercial Bank is an entirely different transaction.
“The Bank creates the 500 dollars of credit which it enters on its ledger.
and you enter on the stub of your cheque book.
“It is, in effect, 500 dollars of new money.
“The purchasing power of the nation has increased 500 dollars.
Page Four ‘
You should read “If"—-the story of man‘s madness and of his greatness.
“It is almost as if the Bank had printed 500 dollars of new bank notes
and lent them to you."
(Quoted from “Free Money,” by D. L. De Witt.)
Lord Bryce, in his book on “Scientific Solution of the Money Question,"
says that:
“Man’s most dangerous and insidious enemy is the Money Power.” And
President Wilson admitted in 1911 that:
“The financiers are more powerful than the nominal ruler
THE MONEY SYSTEM OF THE OLD ORDER.
_ Daniel Webster, the great American statesman, although holding Tory
sympathies, said that: g
“There never has been devised by man a plan more specious by which
labor could be robbed of the fruits of toil than the banking system.” And
he goes on to say also “it robs the producing, manufacturing and mercantile
classes of their honest earnings.”
Thirgen Charges Against the Present Monetary System.
(1) Under our present money and banking systems our economy is geared
to financial racket which LOADS THE PUBLIC WITH DEBT AND
THEN COLLAPSES WHEN FURTHER DEBT CREATION IS HALTED.
(2) Our debt money system creates A CHRONIC SHORTAGE OF MONEY,
so far as the great majority of the people is concerned.
(3) Our supply of money being built largely on debt is DEFLATIONARY
IN CHARACTER. It starts pulling itself out of circulation immediately
after being injected into circulation, regardless of how badly it may still
be needed in circulation. It creates a constantly increasing demand for
money with which to pay the interest, in addition to that needed with
which to repay the principal, of thedebt which gives birth to its existence,
and thereby forces increasing debt or deflation. The public press, the
academic economists and our other common propaganda mediums and
agencies continually preach to us about the evils and dangers of inflation,
while the people and the country are usually suffering from the evils
and ravages of deflation.
(4) Our money supply is NOT FURNISHED SO AS TO MEET the needs
of increases in population, expanding business, the growing capacity to
produce made possible by inventions and otherwise, nor of THE NEEDS
OF PROGRESS IN GENERAL.
(5) In general, the greatest defect of our money system is its failure to
supply us steadily with a sufficiency~—yet not more than a sufficiency-
of monetary means of exchange.
<6) NO GOVERNMENTAL POLICY has been declared under the law in
regard to regulating the supply and value of money, but this is illegally
delegated to the DICTATORIAL CONTROL of the heads of the privately
owned Monetary System. This is an unconstitutional delegation of power.
(7) Under our present system of debt money there is LACKING ANY
PROPER AND SCIENTIFIC REGULATION of the supply of money,
and, therefore, of the value of money.
<8) Our present money system is unstable in character and SUBJECT TO
INFLATION AND DEFLATION MANIPULATIONS BY SPECULATORS
and those who live off of the fluctuations of money and markets.
Page Five
“All other changes—however admittedly necessary and urgentl—must wait
upon the change in our Money System. It must be Socialised to serve both
consumer and producer.”-Read “Money.”
(9) Lacking satisfactory Governmental regulation of the supply and value
of money, our money system also is SUBJECT TO WIDE VARIATIONS
FROM TOO MUCH OR TOO LITTLE PUBLIC CONFIDENCE.
(10) Our present systems greatly tend toward the CONCENTRATION OF
WEALTH instead of serving properly as the most potent forces in dis-
tributing wealth, and thereby complicate the greatest modern economic
problem-THE PROBLEM OF DISTRIBUTION-the exchange of goods
and services—in place of aiding materially in the solution thereof.
(11) The evils of our present money and banking systems together are the
CHIEF CAUSES OF UNEMPLOYMENT.
(12) They aid in FLEECING OUR OLD PEOPLE OF THEIR SAVINGS and
create a constantly greater need for old age pensions.
(13) Taxation, and poverty in a world of plenty, increases as the bankers
loan their debt-money to Governments, industry and people.
SOME NOTABLE STATEMENTS THAT GO TO
SUPPORT ‘A CHANGED MONETARY POLICY.
ABRAHAM LINCOLN’S GREAT CONCEPTION STILL AWAITS
FULFILMENT.
He stated: “How the monetary needs of an increasing number of people
advancing towards higher standards of living can and should be met by the
Government.”
“Such needs can be served by the issue of national currency and credit
through the operation of a national banking system-—Government has the
power to regulate the currency and credit of the Nation.”
“The Government should create, issue and circulate all the currency
and credit needed to satisfy the spending power of the Government and the
buying power of consumers."
“The Taxpayer will be saved immense sums in interest, discounts and
exchanges.”
“The financing of all public enterprises, the maintenance of stable Gov-
ernment and ordered progress, and the conduct of the Treasury will become
matters of practical administration." '
“Money will cease to be master and become the servant of humanity
Democracy will rise superior to the money power.”
Lincoln’s work was not in vain, for the knowledge of money, and what
it should do and could do, is growing at a great pace.
BANKERS MAKE ADMISSIONS.
Three Prominent Men Speak the Truth.
Who is to Govern?
“When it is remembered that Kings and Governments have, throughout
the ages, insisted with jealous care on the prerogative of issuing money and
controlling currency within their jurisdiction, it is somewhat strange to
find modern States accepting an axiomatic, a limitation of their sovereignty
in the sphere of money, so far-reaching in its effects on their own powers
and on the daily lives of their citizens, as is involved in their agreeing to
Page Six
Our soldier boys are asking, “why millions pf pounds can now be found,
that they may be fed clothed and sheltered, yet before the war and amidst
plenty, the dole was their reward”?
conform in all circumstances to a standard of value over which
no control.” By Sir Basil Blackett in “Planned Money.”
IMPORTANT TO CIVILISATION.
they have
“When one gets a complete grasp upon the picture, the tragic absurdity
of our hopeless position is almost incredible-—but there it is.”
“It (the banking problem) is the most important subject
persons can investigate and reflect upon.”
intelligent
“It is so important that our present civilisation may collapse unless it
is widely understood and the defects remedied very soon."
By Robert Hemphill, former Credit Manager of Federal Reserve Bank
of Atlanta, America.
OUR ENEMIES--A WARNING.
Mr. E. J. Kelleher, a Director of the Bank of New Zealand, said:
“If the British Empire was to escape the burden of crushing interest
payments aiter the war, it must immediately replace its privately created
finance by State issue—State-created money would be interest free. To fight
a war with privately created money is to fight two enemies, one outside our
country and one within,” he added. “The second is the enemy of perpetual
national debt which we have never defeated.”
From “Sydney Morning Herald," June 10th, 1940.
AMPLIFICATION OF LABOR POLICY
By the Author.
PLANS FOR A WORTH-WHILE NEW ORDER
and
Principles for which the Australian People can Fight and Work.
OBJECTIVE.
(1) To establish a state of true democracy within Australia, by using the
powers vested in the elected Parliament to ensure that the standard
’ of living of the Australian people shall be limited only by the capacity
of the country's resources to produce and deliver goods and services.
(2) To establish and maintain a state of society based on the principles of
Justice, Freedom, and Security for all.
(3) To use Austra1ia’s wealth and vast resources for the welfare of the
Australian people instead of for and on behalf of the Financial Institu-
tions and vested interests.
Two Declarations that Labor can subscribe to—being
to meet the needs of the age.
(1) THE RIGHT TO LIVE.
suitable
“By the word ‘man’ in this Declaration is meant every living human being
without distinction of age or sex.
“Every man is a joint inheritor of all the natural resources and
the powers,
inventions and possibilities accumulated by our forerunners.
“He is entitled, with the measure of these resources and without distinc-
tion of race, color, or professed beliefs or opinions, to the nourishment,
covering, and medical care needed to realise his full possibilities of physi-
cal and mental development from birth to death.
Page Seven
Money is not wealth—it is a mechanism. Read “Money.”
“Notwithstanding the various and unequal qualities of individuals, all men
shall be deemed absolutely equal in the eyes of the law, equally important
in social life, and equally entitled to the respect of their fellowmen.”
From the English Declaration of Rights.
(2) THE RIGHT TO WORK AND LEISURE.
“The right to live involves, also, the right to have work so limited as to
leave ample leisure time, and so remunerated that everyone will have a
fair share in the well-being which scientific and technical progress
renders possible, and an equitable distribution of which could and would
now assure to everyone the full.intellectual, moral, artistic, and technical
development of all his or her faculties and sufficient subsistence for
everyone incapable of work."
From the French Declaration of Rights.
FINDING MONEY FOR WAR AND PEACE.
(1) The Government shall take all such steps as are necessary for the
adequate defence of Australia against aggression, limited only by the
ability of the nation to produce and acquire goods and employ services,
and the financial system shall be adjusted to any extent necessary to
accomplish this purpose.
(2) To eliminate and prevent financial profiteering through the flotation of
loans, and to safeguard the people against the lowering of living standards
as a result of increased taxation, the Government shall instruct the
Commonwealth Bank Board to provide for the financing of Australia’s
national defence, public works, and other services, by costless credit, that
is, by credit created and issued according to the statement in the report
of the Royal Commission on Banking, Section 504.
Australia must be defended by all the means at our disposal, and, as
orthodox finance has proved itself incapable of administering the peace,
so it will, through its methods of administering war expenditure, enslave the
community and multiply its own fortunes, without making a maximum war
effort possible.
The plain position is this: Australia produces the steel, cloth, leather
and other materials which are essential for munitions or supplies, or can
acquire them in exchange for other products which other countries need.
The labor is available to transform the raw materials into finished products
in Australian factories, and all essential foodstuffs are here in abundance.
The money necessary to act as a medium of exchange can be created by
the Commonwealth Bank free of any charge; why should a privileged section
amass profits through the national emergency? Is there any difference
between profiteering in food and supplies—which is very rightly condemned
-and profiteering in money, about which little or nothing is said? Of course
there is not, and we invite the citizens of this democracy to make it plain
that they will not tolerate profiteering of any kind.
AUSTRALIANS! . . . SECURE NOW FOR YOURSELVES ECONOMIC
JUSTICE AND SECURITY AND ESTABLISH AN ECONOMIC FOUNDA-
TION FOR LASTING PEACE.
The following policy is designed to prevent the tragic experience of the
last war, the outstanding feature of which was the betrayal and repudiation
of the promises made to those who made such big sacrifices, even of life
itself.
Page Eight
Secure a copy of “Money—What Is It?”—a clear exposure of the Money
Swind‘e and how money is made and by whom.
Electors are reminded that if we do not learn wisdom from the past
and give time and thought to making plans to meet the economic crisis of
peace, our people will be thrown into another depression.
Peace will bring an end of war-time spending; this will mean a sudden
and drastic reduction of our national income. Added to this will be the
uncertainty of overseas markets and almost certain economic chaos of
Europe.
If the crisis of peace finds our nation unprepared to meet it, the economic
distress which will result may release the destructive forces of violent revo-
lution, and bring to our land unspeakable horrors.
The last war left Australia with a gigantic national debt. The national
debt at the 30th June, 1939, was £1,294,033,000, an increase of 19 millions for
the year.
The interest which has to be paid on this huge sum takes approximately
half the total Federal revenue, that is, if revenue receipts total 100 millions
(which was the approximate amount for the year ending 30/6/39).
Therefore, it is‘ obvious that if the huge expenditure for war purposes
is added to the national debt, which it is the intention of many Governments
to do, the burden of interest to be paid will increase taxation to beyond
breaking point.
A consideration of these facts should make it clear that if the experience
of the last war, in matters of finance, is to be repeated, our economic system
must break beneath the intolerable strain placed upon it.
If our nation is to avoid such a calamity, and also build a firm foundation
upon which a permanent peace may rest, the plans must be prepared and
the building started without delay.
, I invite the serious consideration of fellow Australians to the following
policy, and trust that, after consideration, they will co-operate in doing
everything possible to have the policy put into action.
AUSTRALlA'S CONTRIBUTION TO THE NEW ORDER.
The First Steps to be Taken.
The Debt-Money System Must End.
Money Must be Made to Serve Man.
. The Essential Principles for a Changed Monetary System.
The first and most important step is for the Commonwealth to assert
its constitutional right under Section 51 to use its unlimited power over the
‘""uance and proper control of money in all its forms, and provide debt-free
money for defence, all national undertakings and services.
(Hospitals, schools, railways, water conservation, adequate pensions, and
many other urgent needs are crying out for the doing—we have the materials
and the men to do the jobs—but the common answer is: NO MONEY.
Strange, yet tragic, that we cannot control this Ticket (Money) System to
make it satisfy human needs to serve the people’s welfare.)
Such control to provide:
(a) For the setting up of the necessary authority and machinery per
medium of the Commonwealth Bank, to carry into effect this policy.
(b) For the private banks to cease to dictate or control the monetary
system, but to co-operate in administering the above policy, such
banks to be paid for the services rendered in handling the Govern-
ment’s and people’s money.
Page Nine
Millions of pounds can be found for war—why not for peace?
(c) For the necessary machinery to enable the producer to satisfy the
needs of the people, and to secure for himself adequate return for
his efforts. (Producers could be assured of a “just price," thus
providing a reasonable basic margin of profit, as the employee could
be assured of an adequate basic wage.)
(d) For the necessary safeguards to protect the people against price
manipulations and any form of exploitation.
(e) For the assurance to all of a standard of living in keeping with the
country’s capacity to provide the necessities of life, such standard
to cover the unemployed as, well as the employed. In short, what is
found to be physically possible must be made financially possible.
(f) For progressively reducing the National Debt, thereby drastically
removing the need for excessive taxation, direct or indirect.
Note: It is essential that the private Trading Banks shall cease to create
financial credit which they have, in the past, loaned to Governments at
interest.
EFFECTS OF THESE CHANGES.
(1) It will bring to an end the debt-money system with its twin evils-
taxation and poverty as we know them to-day.
(2) It will remove for ever the danger of the financiers’ deliberately planned
periods of inflation and deflation, and therefore it will free industry and
commerce, labor and agriculture, from all fears of panics and depressions.
(3) It will enable the Commonwealth to more easily carry into effect the
ideals of that New Order referred to by the London “Times,” but which
is impossible under the existing system . . . “to feed the hungry, clothe
the naked, house the homeless, and render to each according to his need."
t Peace on earth and goodwill to all men may then become a reality-why
no ?
GENERAL PRINCIPLES.
BANKING.
Credit is the life-blood of the community, and must not be arbitrarily
controlled by a few officials acting upon outworn dogmas. Parliament, while
not interfering in the management of the Commonwealth Bank, must order
its policy.
STANDARD OF LIVING.
The Australian standard of living will depend upon the productivity of
Australia, and must be maintained on that basis.
The adequate supplying of the home market must be the first considera-
tion of a sane economic system.
On the assumption that the purpose of an economic system is to produce
and deliver goods and employ services, rather than make work for work’s
sake, mechanisation of industry and the benefits of research must be placed
to the benefit of the community in increased paid leisure; the spectre of
unemployment for some and overwork for others should not be allowed to
exist side by side.
DEVELOPMENT.
The haphazard methods of the past must be scrapped, and orderly pro-
cedure substituted,’ designed to serve the best interests of the community.
Page Ten
,, .
De we want a change? If so, what kind? Read “The New Order.”
Soil erosion, largely the outcome of individual greed, must‘ be cprrected,
reafforestaticzn undertaken, water conservation provided for, and electrifica-
tion, or the countryside made a reality. " ;,
The maintenance of family life depends largely on decent homes; slums
and Jerry-built structures must have no place in the new -Australia. <1
AUSTRALIA FOR A FREE PEOPLE. ‘ ‘ 
We believe in Australia. It is a great and rich country—it is ours‘ and
Xe nigist guard it and make it a home fit for humans and for heroes to
ve . '
 We must first recognise the utter futility of trying to rectify all the
" _ ;.;,~;-_-‘g onditions, such as wages, hours of work, balanced budgets,
.;»,,,__,,  mi  _
; l’, _ .r,_-~  _ exchange, prices, unemployment, youth problems, and
Mar‘ <1 t-"1 11- .. , _ _ . . .
. ,_.....,,.g,._..».   ll the ownership of the right to create and control money
..;w¢i;,A:)“j‘Y&,fi   e Commonwealth. ‘~ . ;
" ~‘  f: _ i all money existent to-day is a false debt to the private
banking ll’lStltl1lZl3nS, the real sane and sound method is for the sovereign
State (the Ccmmonwealth) to use its own national (social) credit to redeem
its own security. ‘ ‘ _ <
THERE IS NO JUST NEED FOR "THE STATE OR LOCAL GOVERN-'
MENII‘ bodies to borrow private bank debt-money or to he hampered ‘from
acquiring the necessary financial credit for all essential ratgunal works and
A services. i
THE NEW DEMOCRACY. '
,’ “Out of the Welter of suffering to be endured we must fashion .a
new world that will be something better than the stale reflection of the
old‘ bled white.”—Antho'ny Eden. '
If the declarations of our leaders mean anything at all, they indicate
‘ that, when we have established a vicfiwious peace, we shall enter a new
‘world, where there will be hope, freedom, and security.
It is certain that this new world will not take shape on this occasion
any more” than it did after the last war if social life is to continue to be
a desperate struggle for the right to live; and under our present leadership,
unless some unforeseen change occurs, a new order is unlikely to arise. ,
*" The responsibility, therefore, of ordering our own destiny rests with
the piople themselves, and. through our Parliamentary institutions, we must
ensur that our will is carried into effect, not in some distant future or after
the war, but now.
Human beings want economic security, which only adequate food, cloth+
‘ : and shelter can give them.
 _ ;h_’.;:q-__,,- vital _question to consider is: “Can Australia, with its vast
 _ ,;'  capacity to produce, satisfy that want?” The physical facts
"f,§"'f:;,"‘.-gj  = an~emphatic “Yes.” '
  st essential step is for the Federal Parliament to assert its
author,”-as laid down in the Constitution (Section 51) in respect to
currency and banking, and this would not necessarily mean taking over the
private trading banks. The people’s Government must determine the policy,
and the banks, like any other private person, must carry out that policy.
Let us get on with the job at once, because ii‘ we do not end the bankers’
debt-money system it certainly will end us.
Our slogan must be: A debt-free, interest-free Australia, providing
freedom in security for all.
Page» Eleven
w ,4 '"
' it
‘ ‘ " FlNANClAl.‘. DICTATORSHIP.
I A' BANKER'$ CQ‘NFESS,lO,NS SHOULD COUNT.
Since the above Charter was first cireulated,.“The Dai‘y Mirror,” Sydney,
published a seriesof articles from Sir¢Vincent Vickers which exposes the
Money Trick. Portion reads: .. ~
“Unless we can contrive to design and establish an improved and re-
formed financial system,’ which is_the first essential towards a new and better
economy in our own country, no satisfactory outcome of the war is possible."
l " “It would have been wise to-have expended some of our energies in
strengthening our home defences by placing democracy in an impreg able
position under a money-machine managed and controlled by its GOV6I‘Il%1EI1l5
and worthy of the public confidence." (“The Daily Mirror," 24/10/41.)
Sir Vincent C, Vickers, November, 1939, after 22 year - I, ,~.'.»_ ,  1
lvickers Ltd., a Director of the Bank of England from 1 ?'<.,'. .',-'“"?'_""?~?"‘  
Deputy-Lieutenant of the City of London, has lifted the 11,.‘  .i"~" ‘
Box of Tricks in his book “Finance in the Melting Pot." 
“I hold views,” he says, “which the London Press  - =*"‘”“;"“"
Let us recognise that great social change is coming to H o ' try ‘also,
and that a serious social upheaval, even in this country, is not impossiblem
that prompt action only can ensure that the future shall bring reform anc’
not revolution. ‘M *
“I have watched for ten years every move, every wriggle, of fin natal
policy; I have seen the effects of the greatest financial blunder the alorld
has ever known-—our return to the gold standard after the war.
“It isf mainly the money system which is dragging us back, because itt
remains undamentaly as ‘it was a hundred years ago. As long as the
present system is allowed to remain unchanged, nothing can permanently
alter the present traglcstate of affairs or resolve this devastating economic
paradox. ‘
“It. is the ‘same story wherever you turn. Reform and Progress, deve'bp-
ment in every field of human activity is being held up by wantof money
and the persistence of an out-dated nfiney system.” Q
I In a book written just‘ prior to his death, viz., “Economic Tribulations,"
1e says: ‘
“If once we can decide what it is that constitutes a barrle"r between
the producer and the consumer, whilst both remain dissatisfied, we shall
have discovered not only the main cause of the world's discontent and if
the existing enmities and jealousies among the nations, but at the sa e
time the true road to the peace of the world.” '
Of the “Enemy Within” he says: “Are we now fighting to uphold,
Freedom and Democracy, or are we fighting to uphold and strengthen
the dictatorship of international finance? But this world power, with its
permitted control of the national money supply and with its support Qf a_
monetary system that has plunged every nation into the  of.
irretrievable debt and the world into economic strife, should nogg  
estimated.” 1 - -1;, _;’. _  53%.;
________._ *i.{,~.§,,?,gv fly
Other Books by the Author ore: " ‘ <
“If——the Great Paradox." 1/1 posted." I “Money'—What Is It?" 1/1 posted.
“The New Order—What Is It To Be?” 6d.
All obtainable from S. F. ALLEN, Box 1178, G.P.O., Sydney, orftooms 5 and 6,
2nd Floor, 88 Pitt Street.
This booklet is dedicated by an Australian to the Labor Movement in
appreciation of the growing thought towards the proper issuance and control
of Financial Credit (Money) for and on behalf of the people.
v W7 l 'l'he Worker Trustees. 238 Castlereagh-st., Sydney. 40-Hour 'VVe9k—1603-