Let us face the fact, that British Rail is under funded, and was put into private hands, as a solution to that problem and it makes the problem worse. We could all recognise the truth of that statement if we took the trouble to look.

British Rail provides an essential, vital, national service, whether we like that responsibility or not. Make no mistake, it is our responsibility, because it is us, what needs it.

Therefore if we heed our Editor and agree that we need a firm, fair and sensible approach, and also confront the fact that British Rail is under funded, and has been ever since the day that British Rail was an unborn foetus in the brain of Isambard Kingdom Brunel, we shall see that we need some new think, to solve the problem.

Take a look at the real estate value of British Rail today and see that it is an astronomical sum of money. Money which did not exist during its gestation in the brain of Brunel. In other words new money had to come into existence, to put British Rail there. Lots of new money was required.

Where did that new money come from? Do not ask any body other than I, because they cannot or will not tell you. I will tell you, it was borrowed into existence. It was issued as credit by private banks. Ask the banks what the hell they are playing at, and they will tell you What we do is perfectly legal, read the Tonnage Act of 1694. And sure enough, it is legal.

But computer money has turned credit into debt. The Tonnage Act no longer serves. We need a new system for creating and issuing new money. It should be and now it must be, the sole privilege of Government to create and issue new money and to do so correctly, under our supervision.