Word: aberhart
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...most distasteful chore of the week, the Dominion Premier, who holds his House of Commons seat from Alberta, made a Federal loan of $2,500,000 to that Province's newly-victorious Social Credit Premier William Aberhart (TIME, Sept. 2 & 16). Such seemed to be the price charged by Social Crediteers for withholding their attacks from Mr. Bennett personally in the election. Other provinces of Canada's West simultaneously ganged up for loans on the Federal Premier who finally approved last week provincial loans totaling...
...Alberta new Social Credit Premier Aberhart, having got his $2,500,000 loan, announced that he was leaving for Detroit to confer with Radio Priest Coughlin. Said William Aberhart: "I am going to see Father Coughlin because I am in search of the most expert advice on this continent! We do not need Henry Ford's assistance but I should like to talk to him also because of his interest in economics...
Urged by reporters to define Social Credit as he intends to practice it, Premier Aberhart obliged: ''Briefly, what Social Credit means is that we are going to take what we produce, increase it scientifically, and distribute it to all. Like any company the Province of Alberta will deposit security in the banks, then instruct the banks to credit we citizen-shareholders with $25 each monthly. The citizen will draw on that credit, his 'dividend check' being the same thing as cash-and naturally just as good...
While Premier Bennett anguished and Premier Aberhart communed at Detroit's Shrine of the Little Flower, an extremely tall, imposing British cleric in black gaiters and frock coat landed in Manhattan on his way to Alberta. As newshawks swarmed around him the very Rev. Hewlett Johnson, Dean of Canterbury, observed: "Newspapermen? Ah yes. Terrible people! You aren't usually so eager for a sermon. Well, this is my chance...
Social Credit, preached the Dean, is "about ready to be embraced by the young people in America," but in older England, "the idea must be put to soak for a while." Evidently afraid Social Credit will fail in the hands of Premier Aberhart, the Dean rapped: "I can assure you that a failure, even the collapse of the Government in Alberta, would not mean the end of Social Credit. ... At present banks create money in the interest of Finance. The people should create money in the interest of Production! You get inflation only if you create money faster than...