LESSONS FROM ALBERTA

Hawke's Bay Herald-Tribune, Issue 184, 21 August 1937, Page 4

LESSONS FROM ALBERTA

- It is quite probable that not a very great many are taking very much interest in the news we have been getting during the last week or two as to the doings of the Prenjier, Mr Wiiliam Aberhart, in the Canadian province of Alberta. Perhaps, however, greater interest would be stimulated were it realised that the possibility of something like what is being attempted there is reasonably to be implied in the threats which our own Prime Minister js holding out here. Addressing his constituents only two or three days ago, the Member of Roskill, -Mr A. S. Richards whether with or withput good warrant, stated that during the session that is to open a fortnight or sq hence "further steps toward the complete control of banking would be taken by the Government." When this statement was referred to our Prime Minister for CQmment, he said in his usual cryptic way : "While the Government is getting satisfactory service from private . banking corporations it will be satisfied. If we do not, then we shall provide it ourselves." That means, if it means anything at all, that unless the private banks, with all the resources at their command, come to heel at the Government's whistle, then the Government whip in the form of compuision will be brought into play. That is precisely the method which Mr Aberhart is now seekmg to adopt in Alberta. According to the cable messages the plan he proposes to introduce is a system of licensing for all financial institutions — not banking alone — with licences that may be withdrawn at any time by the Government, thus forcing them to close their doors, while fecourse to the courts for relief is to be prohibited. . It may be, of course, indeed probably is, that Mr. Savage has no quite such drastic steps in contemplation, but if he is to do anything really effective; it can scarcely but be along something the same, though perhaps "a little" less dangerous lines. "It may be, too, that Mr. Savage is 'only indulging in a litle bombast wherewith to tickle the ears of the rather numerous section of his immediate following which is bent rather on pulling others down than on in^proving conditions for the mass of the population. What we have to understand, however, is that Mr. Aberhart' s and Mr. Savage's points of departure are very much ahke and there is always the possibility of them travelHng along much the same road, even if not for the same length of it. Fortunately for the people of Alberta they have a federal government which can exercise a restrainirtg hand upon their Premier. Hfere, however, we.have a Government which is entirely a law unto itself, with a strong and absolutely docile majority in the House, no member of which, on pain of losing his seat, is allowed to have or to give expression to any dissenting judgment of his own. Nor can it be overlooked that this same majority has already passed legislation that places it in the power of Mr. Savage's Government, in many ways to take action such as Mr Aberhart is attempting in Alberta. And who shall say, in the light of events during the last eighteen months, that they are not itching to give it play ? The main hope for the co.untry of reason prevailing lies in the Minister of Finance, who is believed to hold anything but the extreme views with which a number, perhaps the majority, of his colleagues are possessed. " It may also be reasonably expected that the personal contacts he has made during his sojourn abroad may have impressed him with the perils that must attend on giving way to these revolutionary views, But, at the same time, it cannot but be lecognised that there is always the danger of his being overborne by the weight of numbers which seems to be on the side of those mairily desirous to truckling to the extremists among their political supporters. Hence, in large part at any rate, the widespread anxiety to learn from his Budget and his exposition of it how far he may have succeeded in securing acceptanqe for a policy of moderation such as may spell at least $ome fair measure of safety and stability for the country's finance Uoth public and private.