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Thursday, 5 March 1942

Mr MORGAN (Reid) .- I do not desire to impede the Government in its desire to have this legislation passed, hut, I have to make clear where I stand. 1 deplore the fact that the Government feels that it is bound to adopt the method of raising money set out in this proposed legislation. I am in full accord with the sentiments of the honorable member for Riverina (Mr. Langtry), and I cannot put the matter in better words than he used. It is time we realized that we are losing this war. Why, we have i>t every round! The only points we have trained have been those won by our Russian ally. It is because we have adopted the wrong organization and the wrong method of finance that, in spite of the fact that our resources of men are four times as great, as those of the Axis powers - we have people as against their 300,000,000 in manpower - and the bulk nf the raw materials, we cannot take a single point. If we had a proper monetary system, we could bring our preponderance of man-power and raw materials together. The Leader of the Opposition (Mr. Fadden) let the cat out of the bag when he described money as being an indispensable commodity. He snowed that money has become a commodity lent out at a profit instead of being a means of bringing men and materials together. The only way to make money serve its true purpose is by using it to bring men and materials together. Until we do so we shall continue losing in this war. We must make money the servant instead of the master of man.

I deprecate the attacks made on the Minister for Labour and National Service (Mr. Ward), who is to be commended on the stand he has taken, even though he is a member of the Government. It is obvious to anybody who has been here to-day and has read the inspired press references to the Minister for Labour and National Service that the attacks upon him are guided by an unseen hand. It has gone out into the country that " Ward has to be put on the skids ". Every effort will be made to drive the honorable member out of the Government. If possible this opportunity will be used to split the Ministry, especially by those who desire to raise the old issue of a national government. The days of the old hustings catch-cries of " sound finance ", " inflation ", " confidence " and 60 on used in order to create fear, have gone. They were used in order to retain power by the people who represent moneyed interests. It is now time, as the Minister for Labour and National Service has intimated, that, profit wa> taken out of war. ft is unfortunate that the honorable members opposite who have villi fi ed the Minister for Labour and ti onn I Service do not follow the example set bv the honorable member for Robertson (Mr. Spooner), who was constructive, not destructive, when be suggested that the resources of the country should be pooled, that commodities should be rationed and mobilized. and that recourse should be bad to the coupon system. That would do away with the present financial system and make money perform its true function as a measure or yardstick. Then we would be in a position in which our resources could be directed to the objective which we all have. We would have food, clothing and shelter, which is all we need. Of what use would it be to make profits and accumulate money if this country were to be taken by the enemy, who is almost on our shores? If that policy of pooling our resources were applied, our effort would be " all-in " and we could apply ourselves to the prosecution of the war to a successful end.

We have not only the enemy outside to consider; we have the enemy within - money power. That is the real enemy confronting us. That is as true to-day as it was when Lincoln said -

There are two enemies I have to fight - the one in front ofme - the Confederate Army, which I can seek out and deal with effectively, and the one behind - the unseen money power - which is more subtle in its methods and is the more insidious of the two.

We have that enemy within to-day; it is as insidious as it was in Lincoln's day, and it has to be dealt with as effectively as the enemy without. The outofdate money system is clogging the war effort. The influences behind that system are responsible for the attack upon the Minister for Labour and National Service. Those same influences are at the back of an effort to institute an even more orthodox method of finance than that which operates to-day. I quote this passage from the Sydney press -

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