ALBERTA

Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 13

ALBERTA

THE SCRIP ISSUE

TRADERS STANDING OFF

(From "The' Post's" Represen.tativ,e.) , .. VANCOUVER, July 15. A year has passed since the Social Credit Party was elected to power in Alberta. There is'no sign of-the dividend of twenty-five dollars a month, on a definite- promise of which Mr. Aberhart and'his followers were elect-

cd. On the other hand, there are signs of dissatisfaction, which may lead to :aa ■.open.'; bi'each . jnj the party' before 'the "zero"'hour for payment of the dividend arrives. . The unemployed are causing Mr. Aberhart anxiety. ' They have begun to hold demonstrations at Parliament Buildings, demanding work and wages. * In hundreds they invade the corridors .leading;'to his office and that of the Minister of Works. The new provincial highway'works programme is expected ■ ..to .be.inaugurated shortly. Workers will be paid in scrip, redeemable at " the end of a year by-the Government. ,: Working 'men .have not, as a unity expressed\their opinion of the scrip pay- . merit scheme, as /they;',expect the scrip to be honoured immediately, by the - retairstores, if not by'the Gbvernment. The retail stores of Alberta will hot

t accept' scrip money, for the reason that . .wholesalers and manufacturers have - refused rto accept it. The Chambers bf Commerce at Edmonton and Calgary, . the two principal' cities, have also , banned it; their members have given : .-an undertaking not to handle'it. : Traders in other provinces, who supply " goods to. Alberta, have made a similar -.. decision. ~ .• Nevertheless,.Mr. Aberhart maintains his optimism about scrip. He told . his Prophetic ..Bible. Institute, .in his - weekly announcement on public ' af- • fairs, that he had been receiving letters from, various parts of ..North . America. and' Europe, mainly .from curio ' hunters, ottering to buy individual scrip money bonds. "I think we might -; consider "this as a means of helping •.. our revenues," he said; "we are con- ' templating issuing 'keepsake' bonds to ." the extent of a hundred thousand dollars, which would -give us a .good foundation." .. ;' ■ . The Alberta Government has defaulted for a second time on its loans, [nterest was reduced by half—from 6 to 3.per cent.—on a university loan, ■ maturing this month. , The Edmonton City Council, the largest buyer of - :hese'bonds, refused to accept a reduc"i ;ion in interest without bondholders • oeing consulted. Holders of Alberta loan scrip outside the province have Iqrmed a Dominion-wide association to :ake protective action against the mandatory reduction to 2i per cent, of all .nterest on public indebtedness. A new problem has presented itself n' the prolonged heat wave on the prairie. In parts of Alberta, and par;icularly in Saskatchewan, the wheat :rop will be sharply reduced by the brought. The price of wheat has risen 2ightpence a bushel in ten days. Prayers are being offered for rain, at 1 :he instance of Mr. Aberhart. . The

Dominion Government, with a huge-

:arry-over, 150,000,000 bushels, on • its lands, is in a fortunate position, with the price nearly doubled since it.com-,-nenced to accrue, and will be able to balance the losse v s on wheat pools incurred in the early years of the depression, when the price was as low as rwo shillings a bushel. Farmers whose srops have failed will naturally look to the Government, which is mailing a profit, for help. They will also look to Mr. Aberhart for a redemption of his promise to pay them a Social Credit dividend, With provincial taxes in Alberta higher than in other provinces, it is difficult to see where funds 'ire, to be found to meet demands betr.d i:ie normal needs oi government, /i British Columbia, the neighbouring orovince, revenues are buoyant, with repudiation, once openly discussed, now in the last degree improbable.