CONFIDENCE AND CREDIT

Wanganui Chronicle, Volume 79, Issue 208, 5 September 1935, Page 6

CONFIDENCE AND CREDIT

A LBEKTA’S {Social Credit Government goes into office not only with the handicap of an empty Treasury, but with the greater disadvantage of a lack of general confidence in its credit structure. Last week payment on the Alberta Government Bank's saving certificates had to be suspended, following a rush by depositors to withdraw in fear of the coming inauguration of the new regime. Clearly the investing public of Alberta have little confidence in the new Government, yet one of the first acts of the provincial Legislature is to appeal to the Dominion Premier, Mr. IL B. Bennett, for a twelve-m ill ion-doll ar loan. An assurance has been secured that the Dominion Government will treat Alberta ‘‘fairly,” but if help is to be obtained Alberta scorns to have less than nothing to offer in return, if extravagant theories are her only assets. Kecent events in Alberta again point to the danger of allacking that valuable possession of society—confidence in the

credit structure. Once the supports of sound financial methods arc knocked away, confidence vanishes and the elements of collapse appear. Alberta is liable to find that, social credit only means lack of credit.