CURRENCY REFORM POLICY

Hawera Star, Volume LIV, 24 August 1935, Page 5

CURRENCY REFORM POLICY

Alberta Definitely Headed for Social Credit Government CANDIDATES LEAD THE FIELD BIG GAINS IN RURAL AREAS (United i*rese Association —Dy Electric Telegraph Dony right.’ CALGARY, Aug. 22. Alberta is definitely headed for a social credit government led by Air. William Aberhart. At 10 o’clock tlie provincial election returns showed that 20 Social Credit candidates had been elected and that 36 others were leading for their constituencies. The United Farmers Party elected two candidates, . the Conservatives three and Liberals one. Major Douglas, originator of social credit theories, was recently engaged for a term of years as economic adviser to the Alberta Government. Social credit candidates swept the rural ridings and were among the leaders as the proportional representation count proceeded in the cities in the early morning, says a later message.

The standing of the parties is:— Elected: Social Credit 31, Liberal 1 Leading: Social Credit 29, Liberal 1, United Farmers 1.

The Premier. Air Reid, and at least four of his United Farmer Government) Alinisters have been personally defeated. Air. Howson, Liberal leader, has been elected.

Air Aberhart, himself, is not a candidate, but it is believed he will run at a by-election. He received returns at the (Prophetic Bible Institute, where he organised the Social Credit League. Air Aberhart has announced that experts will aid in establishing social credit. The Government will invite Major Douglas to assist in the initial administration work.

• Alajor Douglas is already under a consultation contract to the Alberta Government. He said some months ago that Air Aberhart was performing good work and was making the people social credit conscious, hut he did not favour Air Aberhart’s plans and aims. Air Aberhart’s plan proposes to pay a basic dividend, tentatively of 2 5 dollars a month, to every adult, with an allowance for children, from the levy on unearned increment in non-ne-gotiahle certificates issued by the proposed credit office. The just price would be fixed by a commission.

Government Will Not Raise Opposition to Plans PROVISION OF EXCHANGE FUND . ? ■' . . Received 2.0 p.m. to-day. OTTAWA, Aug. 23. The Government intends to raise no opposition to the new social credit regime in Alberta. 4Phe proposed issue of scrip is allegal under the Bank Act, but no action will be taken unless it conflicts with the business of other provinces. Social credit makes necessary a large foreign exchange fund for Alberta, but the Bank of Canada will only provide the same in the regular way by payment in Canadian legal tender.