Thursday, October 06, 2005

The Return of Funny Money

In Alberta King Klein is abdicating his throne, someday, in the future, not sure when, but before the next election. And since he has no other legacy, the $400 per man, woman and child 'Prosperity Bonus' scheme will be all his...

Except that it originally was an idea from the dirty thirties, a period of depression and dust bowl on the prairies. The newly elected Premier Bible Bill Aherhart and his populist Social Credit government of Alberta in 1935 attempted to give their own Prosperity Bonus, which was refered to by the prejorative monicker of Funny Money, giving every man, woman and child in Alberta a bonus cheque of $25 per month. Which would work out to be $300 Klein's original Funny Money proposal.

And today the Federal Government announced it too will be issuing funny money, to lower income Canadians if the Federal Surplus grows.
Ottawa unveils its own refund program
Taxpayers could reap $133 each under plan for sharing surplus

This is the same Federal Government that in 1937 outlawed Funny Money in Alberta as a violation of the Federal governments monopoly over banking!
CH Douglas and Bill Aberheart are turning over in their graves, chortling 'I told you so'.

"Alberta Premier William Aberhart announced an issue of prosperity bonds to be sold to Albertans.
The bonds were in small denominations ($25.00) and for long terms (10 years). Aberhart noted the
bond issue was offered in response to queries from Alberta's "ordinary people," who frequently
asked him how they could help their government. He anticipated that the sale of the bonds would
allow the province to clear its $150 million debt within 10 years."
Courtesy of the Glenbow Collection "This Week in Western History: September 20 - 26"

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