Home > Social Credit Party of Alberta

The party was founded in 1935 in the depths of the Great Depression by evangelist William Aberhart. It shocked Canadian political observers by winning the first election it contested in Alberta only months after its formation.

Initially, the party attempted to implement its radical populist policies, such as the issuance of prosperity certificates to Alberta residents (dubbed funny money by detractors) in accordance with social credit monetary theory. Three government bills were refused Royal Assent by Lieutenant-Governor John C. Bowen. The Supreme Court of Canada subsequently ruled the legislation unconstitutional because banking and fiscal policy is a responsibility of the federal government. Bowen also refused royal assent to the Accurate News and Information Act, would have forced newspapers to print government rebuttals to stories the provincial cabinet objected to. The government also repealed legislation allowing for the recall of members of the Legislative Assembly by petition when Aberhart himself became the target of recall efforts.

Thwarted in their attempt to gain complete control of Alberta's banks, Aberhart's government eventually succeeded in gaining a foothold in the province's financial sector by creating the Alberta Treasury Branches in 1938Events January -June January 3 The March of Dimes is established by Franklin Delano Roosevelt. January 11 Frances Moulton is the first woman to become president of a US national bank. January 20 Wedding of king Farouk I of Egypt and Farida Zulficar in Cai. The government's relationship with Bowen became so acrimonious that the lieutenant-governor even threatened to use his reserve powers to dismiss it. In the end Bowen chose not to take this extraordinary action, probably because Social Credit would likely have been re-elected in the ensuing general electionA general election is an election in which all members of a given political body are up for election. The term is generally used to refer to elections held for a nation's primary legislative body, as distinguished from by-elections and local elections.. ATB has become a lasting legacy of Social Credit Party policies in Alberta, operating as of 2004 as an orthodox financial institutionA financial institution acts as an agent that provides financial services for its clients. Financial institutions generally fall under financial supervision from a government authority. Examples of basic types Bank Building Society Check cashing store Cre and crown corporationIn Commonwealth countries a Crown corporation is a state-controlled company or enterprise (a public corporation). Crown corporations, in theory, operate on a day-to-day basis at arm's length from the political control of government. Direct control by gove.

"Bible Bill" Aberhart died in 19431943 is the common year starting on Friday. Events January January 4 End of term for Culbert Olson, 29th Governor of California. He is succeeded by Earl Warren. January 11 The United States and United Kingdom give up territorial rights in China. January 1 and was replaced by another evangelical preacher, Ernest ManningErnest Charles Manning ( September 20, 1908 February 19, 1996), Canadian politician, was Premier of Alberta between 1943 and 1968, the longest term of office of any Alberta premier, and the second longest serving premier in Canada. Manning was born in Car. Manning's government was more pragmatic, and under his leadership, the party abandoned social credit monetary theories, and turned into a more traditional conservative party. After the war, Manning moved to purge the party of anti-Semitism, which had been an element of its Christian populist rhetoric until then.

The discovery of significant reserves of oil in 1947 transformed Alberta from one of Canada's poorest provinces to one of the country's richest with resource revenues pouring into the government's treasury.

Manning retired in 1968 and was replaced by Harry E. Strom. But after over three decades in office, the Social Credit Party had become tired and complacent. Social Credit was defeated in 1971 by Peter Lougheed's Progressive Conservatives, and never came close to taking power again.

Social Credit remained in the Legislature as the Official Opposition until 1982, and then disappeared from Alberta politics until 1993.

In 1986, Social Credit, Western Canada Concept and the Heritage Party of Alberta joined together to form the Alberta Political Alliance. The Alliance fell apart when the WCC left, followed by Social Credit. The APA continues as the Alberta Party.

Rekindled and under the leadership of Randy Thorsteinson, a Reform Party of Canada activist, Social Credit made a showing in 1993. In 1997, the party took over 7% of the popular vote, but failed to have any of its members elected.

In April 1999, Thorsteinson, a devout Mormon, resigned to protest an internal party proposal to limit the involvement of the Latter Day Saints within the Party.

In November 1999, James Alberts was elected to lead the party over Jon Dykstra and Norm Racine . Wiebo Ludwig was disqualified. Thorsteinson founded the Alberta Alliance Party in October 2002.

• re-regulation of energy services,
• creation of a public automobile insurance provider, and
• the use of government funds to build meat packing plants in response to the BSE crisis.

The party also vehemently opposes privatization of the Alberta Treasury Branches.

The Canadian social credit movement was largely an out-growth of the Alberta Social Credit Party. The Social Credit Party of Canada was originally strongest in Alberta, before developing a base in Quebec when Réal Caouette agreed to merge his Ralliement creditiste movement into the federal party. The BC Social Credit Party formed the government for many years in neighbouring British Columbia, although this was effectively a coalition of right wing and centrist forces in the province that had no interest in social credit monetary policies.