"NOTHING TO FEAR."

Hawke's Bay Herald-Tribune, Issue 185, 23 August 1937, Page 4

"NOTHING TO FEAR."

After nearly two years in office the Aberhart Government in Alberta is being forced into open conflict with the banks and financial institutions of the province. Legislatioh is to be put through enforcing the reduction of debts and postponement of repayment. Banks and insurance and trust companies will have to submit to the Government's decrees for Mr Aberhart's Bill provides for the licensing of these institutions. A licrnue fee of 500 dollars is to be imposedf with five dollars for every employee A special credit board Will have power to refuse or cancel licences. Failure to produce the results demanded of them will make the banks liable to cancellation of their licences. Some time ago when capital funds were being transferred out of Alberta Mr Aberhart criticised the action of those persons who showed such little faith in the virtues of Social Credit. He denied that his Administration had any intention of attgching private bank accounts or tbe contents of safety deposit vaults. "We are not Robin Hoods, we are Social Creditors," he declared, "We do nofc steal from the rich and give it to the poor. But we are trying to, and we will, rnako tlie poor l'icher without robbing or hurting anyone.'» Mr Aberhart acknowledged that soxne capital had bceu sent out of the Province, but could make no estirnate of tbe amount. Mr Aberhart said there is no need for fear on the part of anyone owning securities or possessing a bank account in Alberta. "You need bave no fear tbat this Government will take anything from you," he declared. "The great aim of this Government is to provide a feeling of security.'-'