Word: creditors
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...mining area of western Quebec. Only once in 30 years (in 1930) had Pontiac ever voted anything but Liberal. But last week, in a by-election to fill a vacancy caused by M.P. Wallace Reginald McDonald's death, Pontiac turned the Liberals out. The winner was a Social Creditor, Real Caouette, 29 (pronounced...
...with a flair for oratory and big promises. He plumped for abolition of income taxes on wages of $3,000 a year or less; $20-a-month Government "dividends" for everybody; $60-a-month handouts for all unemployables 21 or over. Like any good Social Creditor, he berated banks, and for homey campaign purposes he gave his party a fine French-Canadian name: L'Union des Electeursc de Pontiac. He spent only $4,500 campaigning, but he wound up with about 11,000 votes - a few hundred more than the dumfounded Liberals, 4,000 more than the Conservatives...
...also deserted his accounting firm, which promptly went into bankruptcy, some $18,000 in the red; one unhappy creditor held a worthless check...
...also was billed 5.5 billion lire by Mussolini. He never got around to paying this debt to a creditor going out of business...
Fred Vinson told the world last week exactly how the U.S. Treasury Department stands on foreign loans. In his Kentucky accent (which makes "barrers" out of "borrowers") the Secretary of the Treasury reviewed a program which will make the U.S. a creditor nation to the tune of $7 billion-but no more...