Word: aberhart
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Dates: during 1935-1935
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Social Credit. Forty-seven candidates were run, exclusively in the West, by the not-yet-national Social Credit Party of Alberta's new radiorating Premier William Aberhart, a great admirer of Father Coughlin, a restive disciple of the calm British originator of the Social Credit theory, Major Douglas, and a political bigot who makes his followers take vows to read nothing and listen to nothing uttered by anyone against either himself or Social Credit (TIME, Sept. 2 & 16). The Aberhart party, victorious in Alberta, offered to pay all Canadians $25 per month in credit if and when a Social...
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...
Said Father Coughlin after conferring with Premier Aberhart: "Social Credit is nothing new and has been in the Constitution of the United States since it was written...