THE ALBERTA EXPERIMENT.

Taranaki Daily News, 10 September 1935, Page 6

THE ALBERTA EXPERIMENT.

Economists, qualified and unqualified, are likely to watch with much interest the career of the first Social Credit Government in the world. It has taken office in the Canadian province of Alberta, and in circumstances that provide the most exacting test of the new economy. The treasury is empty, and there was a run On the local savings bank it was unable to meet as Soon as the investors were aware of the Government’s election. Indeed the Social Credit Ministry’s first action was an appeal to the Federal Government for a fairly substantial loan wherewith to meet current expenses while tire new credit system is- brought into operation; Supporters Of the Government will no doubt point to the empty Treasury as indicating the nonsuccess of the existing financial system, but less optimistic people Will be inclined to think it indicates a flight of capital from the province that is likely to limit enterprise and add therefore to the problem of unemployment, especially aS men of energy and initiative who do not believe in the new finance are likely to leave Alberta for localities where established practice is preferred to untried theory. At all events it seems apparent that the “dividends” every citizen Will receive if the social credit system works well are postponed for a year at least. That is a very brief period of waiting, however, if the province is being put oh the read to easy recovery, mg* even the opponents of the new system will admit that there must be time aUowed tor its establishment; The Alberta Government has been given its opportunity by the electorate. It has no opposition in the Legislature to overcome, and it should therefore be in a position to make the experiment it has begun with every chance of success* if such is possible.