Page 8 - michael-journal-2019-may

The Origins of the Social Credit Movement

Founded by Louis Even

Louis Even wrote the following article in 1964. He on the study of money and credit. Everyone set out
left it unsigned and referred to himself in the third to find a book on the topic, either an existing title or
person. a manuscript that would be printed at Garden City
It was in the later Press.
months of 1934 that Research
Louis Even read a The call for a book was launched in The Instructor,
book on Social Credit the periodical published by the Study Circle during
for the first time. He the winter months. Recommendations were made of
was working at Garden books, pamphlets and a few manuscripts. Mr. Harpell
City Press, the printing looked at these selections and then passed them to
shop of the Industrial Mr. Even for his evaluation.
and Educational Pub-
lishing Company, at
Sainte-Anne-de-Belle-
vue, near Montreal.
The president of the
company, J. J. Harpell,
was more than a busi-
Mr. Even at Garden City Press nessman. He wanted
to promote the intel-
lectual development and general knowledge of his
employees. To this end, he established the ‘Study
Circle of Gardenvale’ (Gardenvale was the name of J.J. Harpell and
the post office located in the same building as the his printing shop in
printing shop.). During the winter months, the 120 or Ste-Anne-de-Bellevue
so employees met together every Friday night in the
Town Hall for a lesson. Louis Even was the instructor. Amongst the material for review was a manu-
From Electricity to Money script written by Gerald Grattan McGeer, Mayor of

During the winter of 1934-35, the topic studied Vancouver from 1935 to 1936, who wanted to re-
mediate the effects of the Depression by launching
was electricity. A book on the topic written by Dr. W. a number of public work projects which the govern-
L. Goodwin was translated into the French language ment would finance by creating money. The theory
by Louis Even the preceding summer, specifically for may have been generous, but surely a bit wild, as it
the winter study session. placed too much significance on state ownership.
Much was being said at that time about electric Nevertheless, The Conquest of Poverty, by G. G.
power being a monopoly and the monopoly’s rela- McGeer was published by Garden City Press.
tionship with the Royal Bank of Canada, then Can-
ada’s largest bank. The study of this monopoly soon Another manuscript, less bulky than McGeer’s,
would lead to the discovery of the powerful monop- Money — What is it? written by Mrs. A. I. Caldwell
oly of money and credit. of Bristol, New Brunswick was submitted. She was
the sister of the great fish exporter of St. John, N.B.,
Mr. Harpell was already set on the track by the Neil McLean (who was later appointed to the Senate).
Honourable William Stevens Fielding, Minister of Fi- He was a man well-informed about the monetary sys-
nance in the Liberal government in Ottawa. Until he tem. The manuscript was selected as the text for the
was active in government, Mr. Fielding had been the next winter’s Study Circle of Gardenvale. It was trans-
editor of the Journal of Commerce, printed at Garden lated into French by Louis Even.
City Press. Mr. Harpell and Mr. Fielding had a close
relationship. One day, Mr. Fielding, then Minister of A book written by Sylvio Gesell was also sub-
Finance, told Mr. Harpell: “If you want to know where mitted for consideration. Gesell’s ideas had a good
the financial power resides in Canada, look towards number of followers in many countries. Gesell rec-
the banks and the insurance companies.” ommended a ‘taxed money’ designed to promote its
circulation: The bearer, on the 1st and 15th of each
It was therefore decided, in the winter of 1934-35, month, affixed a stamp equal to 2 percent of the
that the course for the following winter would bear value to the reverse side of each banknote. Stamps

8 MICHAEL May/June/July 2019 www.michaeljournal.org