SOCIAL CREDIT

Evening Post, Volume CXXII, Issue 85, 7 October 1936, Page 13

SOCIAL CREDIT

ACTS

OF PRIVATE DEBTS

(From "The Post's" Representative.) VANCOUVER, September 9. A picture of Social Credit, as vlsioned by Mr. William Aberhart and his followers, may be gathered from a recital of the legislation passed at the special ■session of the- Provincial Assembly, just held for the purpose of establishing the new principle. ■•'•■ The major legislation passed includes

the following:— Albert Credit House Act.—Provides for implementation of whole Social ■ Credit Plan. ' Trade and Industry Act Amendment. —Provides for establishment of board to fix "just" price's, manufacturing, wholesale, and retail. Reduction and Settlement of Debts \ .Act—Provides that all private debts, ■:-' contracted prior to July 1, are reduced *.: Itoy payments since that time, whether . ■■-: made on principal or interest; Balance ■." "■■-then remaining to be paid in ten annual •-■' instalments, three at 5 per cent, of the '■'•.'■'principal,'four at 10 per cent, and '-■'• three at 15 per, cent. Provincial Certificates Act.—Validates issue of Alberta scrip or "veloc-< - ity dollars"; authorises cities and muni- ' cipalities to accept them from the Government. Municipalities Securities Interest Act.—Provides" that municipalities may - not collect taxes to pay more than 3 ~ per cent, interest on bonded debt. i. .1/ * Judicature Act Amendment Act— "' " Prevents legal action against the Government or any of its members. Legislation, submitted by the Opposi- • tion, providing for the payment to depositors of 9,000,000 dollars in the Savings Bank, suspended since the election ~ ~«j?f the Social Credit Government, was • vV-'defeated. No appeal is allowed against the decision of any of the boards set up under the Acts passed at the recent session. ' The Licensing of Trades and Business "Act was amended to provide that " ; 'penalties, such as cancellation of ' licences, may be imposed on firms convicted of violating the Hours of Labour..Act, which prescribed a work-, ing week of 54 hours for males.and 48 "* "hours for females. A clause in the Provincial Securities Act ratifies the Order in Council rev 'during by half the interest paid on Alberta's bonded debt of £32,000,000. Mr. Aberhart decided that members of the Legislature would not receive any payment fot? their services in atitending, the special session, which lasted only a week, but, on their earnest plea, he agreed to advance them £ 50 each against next year's indemnity of £350. . ««!. On the closing day of the session, *;<:• <the banks issued a grave warning to .:.-* 'Mr. Aberhart that his debt legislation """'"-would have the effect of curtailing '- ■' ""bank loans in Alberta, because of con- -..; editions, such as reduced income which ■-■•■ '-the legislation would cause. It was l"' -met by a retort by their Minister of -■"■'•Social Credit, Mr. Lucien Maynard, 1 '"'that the Government considered it had ■ ■ ""power to wipe out debts, principal and ■ "'interest, altogether.