From Wikipedia, the free encyclopedia.
The Social Credit Party of Alberta was a provincial party founded on the social credit monetary policy and Christian social values.
The party was founded in 1935 in the depths of the Great Depression by evangelist William Aberhart. It shocked Canadian poltical observers by winning the first election it contested in Alberta months after its formation. Initially the party attempted to implement its radical populist policies such as the issuance of prosperity certificates to Alberta residents (dubbed funny money by detractors) in accordance with social credit monetary theory but the Supreme Court of Canada ruled Aberhart's legislation unconstitutional since banking and fiscal policy is a responsibility of the federal government. The government repealed legislation allowing for the recall of members of the Legislative Assembly by petition when Aberhart himself became the target of recall efforts.
"Bible Bill" Aberhart died in 1943 and was replaced by another evangelical preacher, Ernest Manning. Manning's government was more pragmatic and under his leadership the party abandoned Social Credit monetary theories and turned into a more traditional conservative party. After the war Manning was also persuaded to purge the party of anti-Semitism which had been an element of its Christian populist rhetoric until then. Additionally, the discovery of significant reserves of oil in 1947 transformed Alberta from one of Canada's poorest provinces to one of the country's richest with money pouring into the government's treasury.
Manning retired in 1968 and was replaced by Harry E. Strom but after over three decades in office the government had become tired and complacent. Social Credit was defeated in 1971 by Peter Lougheed's ascendent Progressive Conservatives and never came close to taking power again. It has been shut out of the legislature since the 1980s.
The party founded in Alberta was part of the Canadian social credit movement and went on to from a federal wing. As well, the BC Social Credit Party formed the government for many years in neighbouring British Columbia.
