REGIME IN ALBERTA.
LEGISLATION ANNOUNCED. COMPULSORY CONVERSION. Received March 17. 1.50 p.m. EDMONTON, March 16. The Premier (Mr W. Aberhart) announces that legislation to call in all Alberta bonds and replace them with a new issue bearing 3 per cent, or less,* is to be. introduced in the Legislature frithin ten days as. a compulsory conversion of the 160,000,000 dollars provincial debt to save seven . thousand dollars daily in interest. He is also planning legislation to compel a reduction of the high home mortgage interest rates. He Stated that he had waited since December for some word from the bondholders regarding -interest reduction, but had had no response, so he must go ahead with the compulsory measures.
The new proposed Alberta business code plans to unite all retailers in an organisation to protect industry from alleged abuses as lawyers and doctors protect their professions. Maximum and minimum prices will be set for all products, and strict legislation is promised against misleading advertising and unethical practices. When a commodity is sold at a price which is considered too high or too low the newly established trade department will investigate the matter.
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Bibliographic details
Manawatu Standard, Volume LVI, Issue 92, 18 March 1936, Page 2
Word Count
190REGIME IN ALBERTA. Manawatu Standard, Volume LVI, Issue 92, 18 March 1936, Page 2
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