Social Credit and the Family
February 8, 2017
Children’s Breakfast, Frederick Daniel Hardy
OUR monetary system places great burdens on families and makes it difficult for men to be providers and women to be nurturers. Furthermore the policy of full employment is ineffective and unnecessary — and difficult to achieve with advanced technology, which eliminates many jobs. The basic problem is not simply jobs, but availability of money.
Michael Watson at the Clifford Hugh Douglas Institute for the Study and Promotion of Social Credit writes that there is a better way.
Social Credit, by wresting control of the overall policy of the monetary system from the private banks and placing it back in the hands of the public via the establishment of a National Credit Office, would break the monopoly of the private banks regarding the issuance of new money. The NCO’s new compensatory consumer credit (meant to balance the flow of incomes with the flow of prices) would be ‘debt-free’ and it would be issued in the form of a national or citizen’s dividend that is distributed equally to every individual, employed or unemployed, as a kind of credit for the work of the vast and abundant production made available by machinery. All citizens who receive the dividend are effectively shareholders in the total national production. The National Dividend will ensure at least basic economic security for individuals and by extension, their family units, without making employment a strict necessity. A nation free from excessive or improper private bank debt would also mean a government free from bank debt, so many of the taxes levied on the citizens could be abolished or reduced, including income tax as well as estate taxes and laws or death duties that have spoliated the wealth and inheritances of families of all classes including the poor and middle classes. These forms of taxation are nothing less than robbery that is designed to prevent families from achieving independence from the servile worker economy. Government spending would also be reduced as most or all of the welfare state social programmes would be abolished and replaced by the National Dividend.
This new found economic security would strengthen traditional family units by releasing them from financial stress. It will also lead to a fairer and more just distribution of wealth, purchasing power and property by providing all individuals, regardless of their socio-economic status, the opportunity to seek the fulfilment of marriage and family life, to establish their own family units and to acquire the necessary property. The resulting permanent stability will lead to stronger and longer lasting marriages, thus allowing families to prosper, grow and develop their landed estates and to pass their legacy onto their children and their children’s children.
