Evening star., 1938-06-05
BY NORMAN M. Macleod.

O1iC uuOW II Cdu CIlcCk GIlc cause
Of financial radicalism In the Do
minion, the Canadian government
is stalking $6,000,000 out of the national
treasury upon q large-scale gamble to in
fiict a major defeat upon Hon. William
("Bible Bill) Aberhart and his social
credit forces in next Wednesdays general
election in Saskatchewan.
The government is using the Sc, ,000, 900
to buy out the private stockholders in the
Bank Of Canada and wholly nationalize the
institution.
Thus is it hoped to nullify the campaign
which Alberta's Evangelist-Premier has
been carrying out throughout the Canadian
west to the effect that participation by
wealthy private interests in partial owner
ship Of the Central Bank OF the Dominion
has resulted in a sinister influence being
welded upon the policies of the institu-
ton.
Instead Of the credit of Canada being
managed for the benefit of Canadians, the
formidable and demagogic Bible Bill" has
been charging to the Saskatchewan voters,
it is being manipulated for the benefit Of
the privileged few.
To meet this allegation the federal au-
thorities are prepared to buy out for ap-
proximately $6,ooo,o0o the IS ,ooo, 900 inter-
est which private stockholders have held
hitherto in the s1o,oo0.o 900 Central Bank.
Aberhart's Defeat Seen.
With this move initiated from Ottawa,
Canadian political circles are growing in
creasingly confident that next Wednesday s
Saskatchewan election-a critical contest
in which the very issue of Canadian ma
tional unity Is involved-will see a major
defeat inflicted upon Crusader Aberhart
and his social credit forces.
This optimism Is based upon adyices
reaching the federal authorities from the
political front where the Albertan Evangel-
ist-Premier is trying to extend his author
ity over q second of Canadas nine prov
inces-with view to sweeping ultimately
to nationwide power.
The financial radicals are reported by the
most reliable Western political sources to
be waging formidable, but losing battle.
Even the fact that Premier Bible Bill"
has raised his promise of consumer divi-
dends" to pledge Of $1,000 per year for
every family of four is said to be leaving
the Saskatchewan voters definitely unen-
thusiastic-due possibly to the fact that Al
bertan citizens have not yet been paid the
more modest s25 per month which Mr..
Aberhart promised them, although a social
credit government has been in power there
Tor almost three years now.
Unity Might Be Split.
II Premier Aberhart is checked In his
attempted Saskatchewan invasion. Cana
dian political observers will regard the
event as marking the turning of the tide
of financial radicalism in the Dominion.
and as the beginning of the end of the
bizarre social credit government. On the
other hand, If Premier Aberhart should
win, 1t is conceded that he would march
within few months to further victories in
Manitoba and in British Columbia and that
Canadian national unity might be split
between East and West at the head of the
Great Lakes.
Thus while actually provincial, next
Wednesdays Saskatchewan contest is of
national importance, and the Dominion
government under Prime Minister w. L.
Mackenzie King is lending every resource
at its command in aiding the return Of the
existing provincial liberal administration
under Premier William Patterson.
In addition to the intention which they
have already announced Of fully nationaliz-
ing the Bank of Canada, the federal au-
thorities, before the campaign closes, are
expected to play another lace in the hole"
which they possess. That Is to say, they
are expected to disallow certain debt can
collation. and reputation legislation passed
by Premier Aberhart at the recent session
of the Abertan Legislature and now con-
stituting q powerful factor in the social
credit leaders promise to Saskatchewan
voters.
Bizarre In Character.
This legislation is of bizarre character.
In the flrst place, it imposes straight 2
per cent tax on the face value Of all mort
cages and . penalty for non-payment Of S
per cent per month-thus extinguishing
the mortgage in 20 months If the levy is
not met In the second place, it provides
that, In the case Of farm mortgage, the
farm home and 160 acres surrounding it
shall be exempt at all times from fore
Closure stipulation which automatically
cancels all mortgages on farms Of 100 acres
or less and makes thousands of larger
acreages virtually valueless because of the
security withdrawn from them. Finally, in
the case Of city property, it is stipulated
that MORTGAGE cannot foreclose without
first making payment of $4,000 to the
person he is evicting-a provision which