The federal member from Burnaby-Coquitlam, B. C., Mr. Erhart Regier, arose in the House on June 3 and made several statements which bear comment. Mr. Regier was criticizing the borrowing policies of the Conservative government, maintaining that heavy borrowing was selling Canada out to the United States. We are interested in setting down these passages of his address because they are so typical of those individuals who take it upon themselves to criticize something or somebody about which they have never taken the trouble to inform themselves.
"Throughout its entire history, while the C.C.F. has advocated monetary reform, it has never advocated turning the handle of the printing press and turning out money for which there is no value. There is only one political movement of which I know that has advocated that and that is the Social Credit movement."
The thousands of Crediters who might happen to read Mr. Regier's words will shake their heads and sigh at this poor man's ignorance. Social Credit does not and never has advocated "the printing money for which there is no value". If Mr. Regier had ever taken the trouble to read even the skimpiest outline of Social Credit doctrine, he would know that this doctrine lays down as one of its principal tenets that, "whatever is physically possible should be made financially possible". In other words, let the credit of the nation be based upon the real concrete wealth of the nation, its actual and potential capacity to produce goods and services. This is a principle which we have stated and repeated constantly in everything that has ever been written or spoken about Social Credit. If a nation is capable of producing in a year 35 billion dollars worth of goods and services to meet the corresponding needs of the people, then why should we let the man-made barrier of a corrupt and outmoded financial system stand in the way of realizing those goods and services?
"Let me warn the minister that if he pursues his present course of action, those irresponsible advocates of monetary reform are going to grow in influence throughout Canada." Are we irresponsible because we advocate monetary reform, Mr. Regier? You have just stated above that your party, the Socialist party of Canada, has always advocated monetary reforms. As far as being "irresponsible", sir, let us assure you that we are a highly responsible group, "responsible", that is, to the people of Canada, our fellow citizens, and not to the clique which is manipulating the financial system to their own benefit.
You are right on one point, — there must be monetary reform. But what kind of monetary reform? What have you to offer, Mr. Regier? More borrowing from the financiers! That is what Mr. Fleming, whom you so severely criticize, is doing when he follows "his present course of action". Then what? Stop making money and issuing it? Mr. Regier, even you must realize that our nation's population is growing at a rapid rate. The needs of the people are ever increasing. The resources of the country and the people are more than adequate to meet those needs. Yet, this cannot be done unless credit, and yet more credit is made available. Well, Mr. Regier, if you don't want Mr. Fleming's method and you criticize the Social Credit method as "irresponsible", then just what do you want?
Yes, we are going to grow in influence through Canada, Mr. Regier. We are going to do so because we have a positive, rational program of reform which goes far beyond mere monetary reform and reaches down to the very roots of social existence. We are going to grow in influence because the masses of men and women throughout the land are sick and fed-up with shouldering the ever-growing mountain of debt which is all that you and your kind can contrive to keep the country's economy going.
They are beginning to realize that Social Credit has something positive to offer, a way out of this slavery which has been imposed upon us by the existing financial system. And these men and women are just as intelligent as you are, Mr. Regier — more so, in fact, since they have studied the system which you have branded as "irresponsible" and found that it brings the only hope for the redemption of society.
"I am very annoyed and I regret very much the evidence of the growth of a movement such as the Union of Electors in Quebec, where they are able to persuade municipality after municipality that the minister should use the Bank of Canada to finance without interest all the capital needs of our municipal goverments. The list of municipalities advocating this measure is becoming alarmingly large."
Having proper regard for Christian charity, as is always the practice of our movement (the Union of Electors), we certainly wouldn't go out of our way or take any positive steps to cause anyone annoyance or regret without very good reason. Besides, we are much too busy. But if our growth is causing you annoyance and regret now, we fear that these sentiments in you, Mr. Regier, are going to increase in violence in the not too distant future. For the reports from our directors and workers presently active in the Western provinces, show that our movement is being received with the greatest enthusiasm everywhere. Yes, Mr. Regier, we are even working in British Columbia, so store up lighting and thunderbolts, for we shall probably be calling around on East Burnaby in the very near future. Yes, and the list of municipalities which are advocating our resolution that the Bank of Conada advance interest-free credits for the financing of municipalities, school commissions and other public bodies, is growing longer and longer even while you fume with annoyance and regret.
Why are all these municipalities supporting this motion? Because they too are irresponsible? Are you inferring that the men who have charge of administering their towns and cities haven't the intelligence to see that they are being led down the path to economic and financial chaos by us? Or that they are too malicious to care? Or could it be, Mr. Regier, that these men, who are so close to the problems and difficulties of the people have comprehended the cause of the crisis in which the people find themselves and have found the means off extricating those to whom they are responsible from this same crisis?
Yes the list of municipalities is becoming larger. And if you want to use the word "alarmingly", we'll use it; it is becoming "alarmingly" large for those who support the financial regime which milks the nation of its wealth for the financiers leaving nothing but debts for the people!
"This is an irresponsible recommendation and the minister well knows that it is irresponsible."
Well, if the government and the ministers · and the other members of the House feel that their first responsibility is to the financiers, then it certainly is "irresponsible." For it (the: motion with reference to the Bank) would make the government throw off this responsibility to the money masters, and shoulder its true and just responsibility to the people. It would make the Bank of Canada fulfill its proper function of aiding the Canadian people financially, not leave it to serve the vested interests of those who manipulate the financial system to their own profit.
"However, if the minister is going to follow his reactionary policies these counter-movements are going to grow. You will find one city council after another throughout Canada endorsing the submissions of the Union of Electors."
You will, indeed, Mr. Regier! And, incidentally, thank you for publicly witnessing before the assembled representatives of the people, to our growth and influence.
Yes, more and more municipalities will swing over to supporting that principle which says that the financial system should aid the people, that it should make possible the conjunction between the vast production of Canada and the needs of the Canadian people — not hinder and obstruct such a conjunction. We are not going to comment on the "reactionary" (and note how redolent that adjective is of the Communist vocabulary) policies of Mr. Fleming, the Minister of Finance. He is only serving that master whom he has been taught to serve and before whom all his predecessors have obediently genuflected — the existing financial system and the men who operate it.
Social Credit, taught and expounded by the Union of Electors will certainly grow. And not only because it advocates the financing of municipalities and other public bodies through interest free credits issued by the Bank of Canada. It will grow because it is the only philosophy which offers a practical solution to the social and economic problems of our day. It is the only doctrine which offers such a solution yet leaves the individual with his liberty and the dignity which God gave him and intended him to keep.
Mr. Regier is a member of the CCF party. It is acknowledged that the CCF is the Socialist party of Canada. Socialism puts forth many schemes which it claims will better mens'conditions. But all of these plans involve the subordination of the individual to the state, the regimentation of all individuals under the welfare state. These plans strip man of his dignity, deprive him of the right to act freely, to make his own decisions, to plan his life for himself; and they do nothing to relieve society of the unbearable mountain of debt, ever-growing, which the existing financial system thrusts upon it.
Of course Mr. Regier is annoyed and regrets to see the growth of the Union of Electors. It is the one movement which can obstruct and halt the march of Socialism which Mr. Regier and his party would like to realize in Canada and in every other part of the world where men are still free.
All Mr. Regier can recommend as a solution to our financial problems is "... a survey by means of a national investment board, royal commission or otherwise of the credit resources, available within the Canadian economy." Another royal commission, Mr. Regier, to spend the taxpayers' money compiling volumes of data which will eventually end up gathering dust in the government archives? Mr. Regier, let's not be naive. It doesn't take a royal commission to measure the credit of Canada. Our credit is only bounded by the limits of our natural resources and the industry, talent and ingenuity of Canadian men and women. How narrow a limit are you going to place on these? What prevents men and women from laying hold of these resources and utilizing them to meet the public and private needs of our nation? What is actually preventing them from utilizing for their needs the already vast surpluses, which the government is storing up at the cost of millions and millions of dollars every year?
One thing and one thing only, Mr. Regier; the antiquated, antediluvian system of finance under which this country (and the whole world for that matter) has been laboring for too long. That system which says that not one penny of new money may be put into circulation unless it comes into being as a debt owed by the country to private financial companies! That is what obstructs our emergence from debt. That is what makes it impossible for municipalities to meet their justifiable needs without going further and further into debt. That is what keeps hundreds of thousands of Canadians living either in want or on the brink of it, fearing every day for the want and privation which tomorrow may bring.
Don't prate to us about irresponsibility, Mr. Regier – either you or any others of your ilk who may think along the same lines. Look to your own responsibility as a representative of the people; look to your responsibility to get them out from under this financial dictatorship, and not by methods which would substitute in its place the dictatorship of the state as is propounded in the philosophy of the CCF and other Red-tinged parties!
Social Credit offers the only hope to men and women to get free from financial dictatorship which today binds us, without leading into the tyranny of Socialism. Social Credit would restore to the government the control and issuance of money and credit; it would make the credit of the nation parallel the physical, real wealth which is produced through the industry and the genius of the people. It would thus restore credit to the people, to society where it belongs. Thus it becomes social credit. It would make it possible for every man, woman and child to have the means to live decently and comfortably in security; for the resources of the land and the productive ability of the people have already placed at the disposal of society more than is sufficient to make this possible. Thus Social Credit fulfills its responsibility to the people. And those who prattle of "irresponsibility" do so either because they are either too ignorant or too lazy to learn or because they are malicious enough to oppose a measure which is in the best interests of the people.
Earl MASSECAR