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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 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 ...
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.
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.
In 1936, the Alberta Social Credit Party-led government of the Province of Alberta, Canada, introduced prosperity certificates in an attempt to alleviate the effects of the Great Depression. Premier William Aberhart's government had won power in the 1935 provincial election partly on the scheme.
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Social Credit contested every provincial election between 1938 and 1967, though the party ran only leader Joseph Needham in 1944. The party received the third highest vote share among parties on four occasions, achieving a high-water mark of 21.5% of the vote in 1956; however, only twice were any members elected to the Legislature—two in 1938, and three in 1956.