Calgary, Aug. 27.
Following an overwhelming majority in the provincial election at Alberta, Mr. William—Aberhart, leader of the Social Credit Party, to-day cabled Major Douglas, pre pounder of the system of economic theories bearing his name, to come to Alberta to help the new government, Deiails concerning the working of the scheme show that every adult will take @ pass-book monthly to the Government clearing-house, where he will ber credited with $25, with which can pay the grocer, butcher, landlord, and others.
The credit will be non-negotiable, and a grocer will have to deposit with the clearing-house to receive new credit to pay his own debis, thug maintaining constant circulation of the credit.
Mr. Aberhart hopes to persuade at Toast one bank to lend a branch as a clearing house, but, if he is unsuccessful, he will establish his own clearing house, ud-holders Assured Hitherto, the Social Credit Party, which entered a candidate for each of the 63 seats, has won 47 seats, and leading in nine of the remaining ten constituencies.
The Liberals have so far obtained four seats, and the Conservatives two.
The province of Alberta, as a result of the landslide in favour of the Social Credit Party, has become the first territory in the British Empire to elect a social credit povernment, An emphatic assurance that British holders of Alberta bonds need not be frightened by the advent of the Social Credit Party was given by: Mr. Aberhart to-day.
He said there would be no repudiation or confiscation. The credit of Alberta was more important than anything else, and they would maintain the rights of investors.
Mr, Aberhart could not give details of his programme at present, bhut said his plan would not contravene the Constitution.
Text read from the printed page and cleaned; old type leaves the occasional error.