Social credit

Monetary reform in the shape of social credit was a doctrine that advocated the distribution of money for purchases by consumers. This doctrine was transformed into a political platform by William Aberhart, Alberta’s Social Credit leader. A populist with little concern for convention, he became premier in August 1935. In 1937 he passed legislation to compel chartered banks to lend money to Albertans; it was repealed by the federal government. This political movement received support elsewhere in Canada, notably in rural Quebec.