HOW IT WORKS.

Auckland Star, Volume LXVII, Issue 296, 14 December 1936, Page 17

HOW IT WORKS.

ALBERTA PAYS DIVIDENDS.

370,000 CITIZENS REGISTER. EDMONTON (Canada),. In the expectation that the payment of promised dividends will begin this winter 370,000 men and women of Alberta have registered under the provisions of the law enacted by Premier Aberlmrt's Social Credit Administration. Mr. Aberhart has said that in the beginning dividends will be from £1 to £2 per month, payable not in cash but in credit, with increases as production increases in the province. In brief, this is how dividends are expected to be paid: Each month the individual will present his account book at the State credit house. In it will be marked his dividend; for example, five dollars. With his account book will go blank, non-negotiable cheque forms. This man may pay three dollars to his grocer for Alberta-made goods, filling in one of the cheque forms for that amount. Because it is non-nego-tiable, the grocer must take the cheque to the clearing house, where his own account is credited with three dollars, a like sum debited from the man's account and the cheque filed away to be destroyed eventually. The grocer then may pay the three dollars to his wholesaler by writing another cheque and eventually it is expected to filter through the hands of the manufacturer and back to the producer. The dividend will not be in cash or scrip, but in credit based on the | resources of Alberta. Social Creditors j claim bank credit is created in the same i way —by a banker writing a few figures in an account book and cancelling them j as cheques are drawn against them. Dividends will not be paid to all j people of Alberta all at once. They will be introduced in a staggered series, first to constituencies where the necessary machinery is ready and to the others as arrangements are completed.