"Many people fail to realise that with the enormous productive capacity of our industrial system today, it is no longer necessary to work so hard or so long as in former times. In fact, most of the goods required, particularly food and clothing, can now be produced in abundance with less personal toil. Yet there exists poverty in most countries. The real trouble is that money and money power now exceed their rightful use, to serve as a medium of exchange. In reality, money which should simply act like a river to carry the ships containing food from one town down to the next is now more important than the goods it carries. The river refuses to carry the goods down to the next town and the people are poverty stricken. The boots and shoes are in the warehouse in the principal streets. Money prevents them being taken down the side streets or out the country to the shabby and bootless children. The river called 'money,' does not flow sufficiently strong, or enough of it to those places, to help them get the goods. Naturally, one might say, why then does not the Government go in for a proper drainage system to enable the goods to be taken where wanted: It is mainly due to the fact that the people and even the Government have not in the first place got away from the false notion that money is a commodity of intrinsic value. This view continues from the time when it was so and the false notion is fostered by the suggestion that money is inseparable from gold. In the second place, there still exists the false notion that banks do not create money, but only safeguard the deposits of their clients. There also exists a failure to realise the growing rate at which machinery, electricity and steam are replacing man-power and making so much of this physical work superfluous, and the possibility of providing sufficient for all, as a result of the immense possibilities in modern production. To meet the ever present problems of unemployment and poverty, which are causing physical and moral crimes, it is clear that the Government must govern its people and take on its rightful function of supreme control of the issue of credit and control of the money system, seeing that the real security for credit is the goods produced and services rendered by the people themselves."