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From: myers@uwmacc.UUCP (Latitudinarian Lobster)
Newsgroups: net.politics
Subject: Re: What Social Credit is.
Message-ID: <1666@uwmacc.UUCP>
Date: Thu, 7-Nov-85 12:03:30 EST
Article-I.D.: uwmacc.1666
Posted: Thu Nov  7 12:03:30 1985
Date-Received: Sun, 10-Nov-85 15:32:19 EST
References: <787@cybvax0.UUCP> <82@ubc-cs.UUCP> <530@calgary.UUCP>
Organization: Ken Kopp's Fresh Seafood Tank
Lines: 26

> > >The Social Credit they advocate consists largely of the government
> > >minting money and giving it to citizens, instead of taxing anyone.
> > >Sort of a trickle-up scheme.  Please correct me if I've misunderstood.
> > 
> > I *think* that that is basically what Social Credit is about.
> 
> Social Credit is a ideology / economic theory developed by a certain
> Major Douglas in the early part of this century, and popularized during
> the Depression, especially in Alberta.
> 
> The theory as I understand it is that the economy has a continually
> increasing need for a medium of exchange, which, if not satisfied, leads
> to a depression. Social credit advocates printing of new money to satisfy
> this need and its distribution to the populace (and also maybe using it
> to finance the government, I think). They don't like the present system of
> allowing the private banking system and central bank to create money.
> 

Anyone interested in this topic might want to research the socialist
government of the city of Milwaukee, Wisconsin during the depression.
A Milwaukean that I know once related a story to me about a meeting he
had with the mayor of that time, who talked alot about their experience
with ``Milwaukee Money'', which after a stormy beginning grew to become
acceptable currency anywhere in the city.

Sorry I don't have more info.  jeff m