DEMANDS ON BANKS

Taranaki Daily News, 6 August 1937, Page 7

DEMANDS ON BANKS

FINANCE FOR DIVIDENDS. ' LEGAL BATTLE EXPECTED. Calgary, July 26. Albcrta's Social Crcdit Party has callcd a spcciol scssion to give the Prcmier, Mr. Aberhart, a last chance to enaet the njdical legisldtion which i» expectcd to put the Social Credit doctrinc into opcrntion. Two reprcscntatives of Major Dbuglas, who nrrived recently from England, have been advising the Government on how to proceed. Whethor this is their own plan, or one approved by Major Douglas himself, has 'not been announced. The first public Intimation cnmc wlth a letter addrcsscd to tlio managerg of nll banks by the Government, demanding that thc banks assist tho proposals by linnncing n monthly dividend of £5 sterling to cvery man and woman in Alberta. With these px-oposals ;x schcme for a lower eost of living will be joincd. "Taxatlon will bo quickly nnd drasticnlly eut," says a Governmcnt announcement, which dcmands public support for "the right ordoring of money," Ihe letters whiclx have lieen sent to Ihe banks eonclude with thc slgniilcant statcment: "The sort of nation which must be taken immcdialely is indionted hy Ihe dellnltely nsccrtaincd fact that for cvery shilling owned by tho people of Alberta orily twopenco with which to ptiy it is at present nvallablc to them." The Government cnlls on Ihe banks to dcclare whcthcr tliey will conforrn with the ncw reKiilat.ions which, from timo to timo, will he proniulgatcd. The indjcations are that a Court battle will enstie. Banks niul weallhy cit.izens have rcmovcd their cash holdinR.s to otlier provlnces, nnd some cnrious nnd riotous scencs nre expectcd.