Sir Josiah Stamp on Christian Economics

Extract

Catching sight of my own name by chance in a periodical several weeks old, I discovered to my astonishment that I had apparently been mentioned in a book by Sir Josiah Stamp which was published this year. Sir Josiah Stamp, needless to say, is not only a director of the Bank of England and a railway magnate, but also an “eminent economist” and indeed the chosen publicity-man who is ever ready to defend the existing financial system with voice and pen and a limitless supply of tact and urbanity.

Curiosity had to be satisfied, and at the first opportunity I looked up his book, which is called Motive and Method in a Christian Order (Epworth Press). As regards myself, the results of the search were very disappointing. The distinguished author had indeed mentioned me (amongst others) and even quoted extensively from a little book of mine, but only by way of illustrating how unwise some of the clergy are in committing themselves to the “Douglas Credit System.” I call this disappointing, because I have never at any time been a follower of Major Douglas or an adherent of his scheme, and indeed was at considerable pains to distinguish myself from the Douglasites in that same little book from which Sir Josiah Stamp took his quotations. I have even criticized the Douglasites quite a lot in their own periodicals; though not in articles addressed to the general public, because it seems a pity to give the impression that moneyreformers are at loggerheads, when they are all united in their exposure of the private Money-Power. Also it is true I have often used the terms “social credit” and “national dividend,” but Sir Josiah Stamp can hardly be unaware that these ideas are common amongst others than Douglasites and by no means involve acceptance of such junk as the A + B theorem, etc., which the Douglasites are now finding it so difficult to throw overboard quietly.