IN ALBERTA.

Waikato Times, Volume 119, Issue 19883, 12 May 1936, Page 9

IN ALBERTA.

(To the Editor.) Sir,—He_latives have forwarded me the enclosed, published in a leading London paper, as from their Albertn uorrespoiident.~—l am, etc., CANTAB. Cambridge, May it. The Social Credit Government has defaulted on the redemption of £040,000 worth of bonds. 9. gold de—benture of 1921. "Mr Aberhart. the Premier, in addition to being unable to fulfil his- election promises of monthly dividends of £5 for everybody, has been nufieted by n storm of unrest following higher taxation. He has refused to submit to Federal regulations to protect further advances to the province. Default appeared, therefore, to be his only course. This is the first time that any Canadian Government has failed to re—deem its bonds. “.\ly inquiries have failed to reveal where the bonds are held. The cniire 13—year issue was ‘payahle to hearer.‘ Therefore no records exist or the present. owners. it is known, however. that practically the entire issue, on which payment has not been mutlu, was sohi to Canadians in 1921. “or Alberta‘s debt or, roughly, £li2,000,(l00, more than 50 per cent. is hold in the United States, 15 pm" cent. in iircui iiritain, and the remainder in (innudn. .\inny municipalities have .\lhurln bonds in their sinking funds account." ,