The Object of Industry

C.H. Douglas

We are often told that it is obviously absurd to say that the financial system does not distribute sufficient purchasing power to buy the goods that are for sale. We [i.e. social crediters] never said it! What we do say is that, under the present monetary system, in order to have sufficient purchasing power to distribute goods for consumption, it is necessary to make a disproportionate amount of capital goods and goods for export. In this country, and in every modem country, in order to make the present monetary system work at all, you have got to make a whole lot of things that are not immediately bought in order to distribute what is already available.

Although you may not require lathes and may have enough bread, the employees of the lathe-maker cannot get bread unless they make lathes; and so they make lathes to make shells to make war to get bread which is already available. Under Social Credit the emphasis on what is produced would be different. Only what was wanted would be produced.

(Speech at Westminster, 1936)

-- reprinted in The Social Crediter, Summer 2005