Henry Kelliher

Henry Joseph Keliher was born on 2 March 1896 in Waikerikeri valley, Central Otago. Served as Director of the Bank of New Zealand.

Keiliher's passion was monetary reform; in the 1930s he published a pamphlet, New Zealand at the crossroads, and promoted the idea that the state alone should create credit. In 1956 he gave evidence to the Royal Commission on Monetary, Banking, and Credit Systems.

### New Zealand at the Crossroads

Authorities cited

* Falconer Larkworthy, banker
* Christopher Hollis. "Christopher Hollis states that between 1914 and 1920, banks in Britain invented one thousand million pounds additional credit money. P.16 On following page he refers to Hollis' "Breakdown of Money" publication.
* Arthur Kitson, two chapter quotes: Economic Security, p. 43, and "Influence of the Press" p. 115
	+ Douglas apparently cribbed some material from Kitson
	+ Kitson is said to have been drawn closer into conspiracy theories involving cabals of jewish financier's profiting at the cost of social goods.  Possible personal grudge- some material appears to insinuate this was due to Kitson's financial ruin after initially profiting handsomely from an invention.
	+ Irving Fischer refers to Kitson several times in his book "Stable money; a history of the movement", for example see p. 51 here.
	+ A book on Ezra pound discusses Kitson's relationship to Douglas's ideas (for example this page)

* "J.  Morgan Rees"-  chapter quote on page 20. "The economy complex"  no references found online
* "McNair Wilson" chapter quote on page 12.  The quote does not appear in "Monarchy or Money Power" by Robert McNair Wilson, but portions of the quote do.
	+ publisher Eyre and Spottiswoode ltd (1933), (1934), 2nd ed. available on Scribd
	+ free text available at archive.org
* G. M. Coogan chapter "Demand for Monetary Reform" quote  page 77
	+ Gertrude Coogan, "Money Creators- Who Creates Money - Who Should Create It" (1935) Archive.org copy "There can be no Liberty without Economic Freedom — America can have no Economic Freedom without an honest money system — one removed from the controls of the socially irresponsible private Money Creators."
	+ Her book said to be "distributed widely by right-wing populist groups" in the 1970s
	+ Was advisor to Father Charles Coughlin who was threatened with being tried for sedition by the US attorney general for publishing "Social Justice" newletter in 1942.  It appeared to be a national socialistic formulation, and Coughlin's popularity as a radio personality fell when he defended German persecution of jews.
* Eimar O'Duffy prolific Irish journalist.  Championed "non-socialist critics of capitalism"- often with a Catholic Nationalist perspective.
* Rev. P. T. R. Kirk, Vicar of Christ Church, Westminster, and General Director of the Industrial Christian Fellowship, and anglican organisation continuing to this day: [link]
* Dr. A. Mansbridge -UNKNOWN Chapter quote: “Man has largely solved the problems of mass-production but has made no corresponding advance in the problems of mass-distribution.
* Robert E. Hemphill: Chapter quote on widespread ignorance.  Probably not Robert H Hemphill.  Even though H, not E appears in book.  I think it is a typo.because there is no Robert H.  But is a relevant Robert E.  Robert W. is  South Carolina democratic representative, but  Robert E. Hemphill is Credit Manager of the Federal Reserve Bank in Atlanta, who wrote of dependence on commercial banks for money creation.  This book has a page that refers to Hemphill as a former member of the Federal Reserve Board.
	+ Hemphill makes a very similar statement to the Kelliher assertion about the vice that private banks have on money creation.
		- "We are completely dependent on the commercial banks.  Someone has to borrow every dollar we have in circulation, cash or credit.  If the banks create ample synthetic money, we are prosperous; if not, we starve.  We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible; but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied...”

### References

1. ↑ New Zealand at the cross-roads : a political, economic, and financial review of an inadequate and faulty money system, with special application to questions of the day, together with suggestions of remedies to retrieve individual and national prosperity, stability, and security / by Henry J. Kelliher. publisher: Te Awamutu [N.Z.] 1936. Link to a library nearest you with a copy:[1]