ALBERTAS DIVIDENDS

Wanganui Chronicle, Volume 79, Issue 306, 28 December 1936, Page 5

ALBERTAS DIVIDENDS

370,000 CITIZENS' REGISTER. EDMONTON, Nov. 5. In the expectation that the payment of promised dividends will begin this winter 370,000 men and women ot Alberta have registered under the provisions of the law enacted by Premier Aberhart's Social Credit administration. Mr. Aberhart has said that in the beginning dividends will be from £1 to £2 per month, payable not in cash but in credit, with increases as production increases in the province. In brief, this is how dividends are expected to be paid: Each month the | individual will present his account book at the state credit house. In it ‘ will be marked his dividend, for ex- i ample. 5 dollars. With his account ; book will go blank, non-negotiable I cheque forms. This man may pay 3 dollars to his ! grocer for Alberta-made goods, filling | in one of the cheque forms for that i amount. Because it is non-negotiable, ; the grocer must take the cheque to i lhe clearing house where his own account is credited with 3 dollars, a like i sum debited from the man’s account I and the cheque filed away to be ■ destroyed eventually. The grocer then ; may pay the 3 dollars to his whole- ■ saler by writing another cheque and ; eventually it is expected to filter j through the hands of the manufar-| turer and back to the producer. I The dividend will not be in cash or scrip but in credit based on the resources of Alberta. Social Crediters claim bank credit is created in the same way—by a banker writing a few figures in an account book and cancelling them as cheques are drawn against them. Dividends will not be paid to all people of Alberta all at once. They will be introduced in a staggered series first to constituencies where the necessary machinery is ready and to the oth'ers as arrangements are completed.