This is a letter to the Editor of the Ararat Advertiser dated Monday
24th July, 2001
It is from Dudley Madden of Ararat.
Congratulations to the independent candidate for Wannon Robert O'Brien for his very realistic policy for a debt free financial system.
The Commonwealth Bank was established in 1911 with the specific purpose of creating the necessary finance for governments projects.
It is incredible that it has only been used twice in this way.
The Transcontinental Railway was financed with newly created money and the job was completed without a penny debt.
Sir Denison Miller was the Governor of the Commonwealth bank during World War One.
After the war while in London, he made the statement, “During the war I did something which before I would never have dreamt could have been done.
“I created 350 million pounds of new money to help finance the war and if the war had gone on I would have created another 350 million.”
John Curtin and Albert Ogilvie both advocated the right to create our own money free of any debt.
Instead of supporting the hopeless major parties, we should get right behind Robert O'Brien because he is on the only right road to recovery.
Dudley Madden,
Ararat