SOCIAL CREDIT
CONSTITUTIONAL ISSUE. EFFORT TO CONTROL BANKB. OBJECTIONS BY FINANCIERS. United press Assn.—Elec. Tel. Copyright. (Received August 6, 3.15 p.m.) EDMONTON, August 5. A constitutional struggle has begun over the Bill introduced by Mr W. Aberhart, Premier, to control the banks. The bill provides for 500 dollars licenses for all financial Institutions, with five dollars for all employees, except for the Bank of Canada. A special Credit Board will control the licenses and have power to refuse or cancel them. Trust, loan and insurance companies will be included in the licenses only after pledges have been given not to disturb the property rights of any citizen of Alberta. A supplementary Act closes the Alberta Courts to any action involving the constitutionality of Alberta Statutes. Financiers are considering making a demand to Ottawa to disallow the Act, and will appeal to the Supreme Court of Canada to declare it ultra vires, and demand that the Lieutenantf-Governor refuse to sign it under the British North America Act, which says that banking-measures are reserved for the Dominion Government.
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Waikato Times, Volume 121, Issue 20265, 6 August 1937, Page 8
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176SOCIAL CREDIT Waikato Times, Volume 121, Issue 20265, 6 August 1937, Page 8
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