Search results
Results From The WOW.Com Content Network
Social credit is a distributive philosophy of political economy developed in the 1920s and 1930s by C. H. Douglas.Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them.
In the years around 1920 the British engineer C. H. Douglas developed a theory on banking and welfare distribution, a theory which he called "Social Credit", and which soon became the cornerstone of an international movement with the same name. However, Douglas himself warned against viewing the Social Credit solely as a scheme for monetary reform.
In the 1930s and 1940s, the social credit movement in British Columbia was largely fractious, and made up of various small groups, the largest of which being the Social Credit League. The British Columbian movement was largely at odds with the Albertan wing and sought to distance itself from William Aberhart's religious preaching.
In the 1940s, Social Credit supporters in Quebec often ran under the name Union des électeurs. This was a social credit organization that was formed in 1939 by Louis Even and Gilberte Côté-Mercier as the political arm of their religious organization, the Pilgrims of Saint Michael. They shared some ideologies, but did not merge or collaborate ...
From 1932 to 1935, Aberhart tried to get the governing United Farmers of Alberta (UFA) to adopt social credit. [2] However, the 1935 UFA convention voted against adopting social credit and UFA Premier Richard Reid rejected the proposals as being outside the province's constitutional powers, so Aberhart entered Social Credit candidates in that year's provincial election.
Aberhart's government did not implement much of the Social Credit policies promised in the party's election platform, because of the province's very poor financial position in the depths of the Depression. The federal government's opposition to Social Credit was a significant block to Aberhart's policy goals.
Notable supporters of Social Credit or "monetary reform" in Britain in the 1920s and 1930s included aircraft manufacturer A. V. Roe, scientist Frederick Soddy, author Henry Williamson, [citation needed] military historian J. F. C. Fuller [7] and Sir Oswald Mosley, in 1928-30 a member of the Labour Government but later the leader of the British Union of Fascists.
The Federal Surplus Commodities Corporation was one of the so-called alphabet agencies set up in the United States during the 1930s as part of President Franklin D. Roosevelt's New Deal. Created in 1933 as the Federal Surplus Relief Corporation, its name was changed by charter amendment on November 18, 1935. In 1937 its administration was ...