Money and The Price System

Money and The Price System
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Clifford Hugh Douglas was born in 1879. He was educated at Cambridge University, and was an engineer. Douglas developed a view of the role of money, and a monetary system, which he called Social Credit. He presented his ideas to the Canadian government in 1923 before the Committee of the House of Commons on Banking and Industry in 1923.

His books, including “Social Credit”, influenced the Farmers Co-operative (the UFA) in Canada, to which Douglas became a financial adviser in 1927. From those beginnings, the Alberta Social Credit Party was formed in 1935, with popular educator and radio preacher William Aberhart as its leader. That party came to power and, in 1935, Major Douglas became the chief reconstruction adviser to Premier Aberhart. Differences between Douglas’ views and the party’s policies resulted in Douglas’ resignation as adviser. Douglas published many books on his views concerning money, banking, and the globally influential and powerful. His other books include Economic Democracy (1920), The Monopoly of Credit (1931), The Use of Money (1935), and The Alberta Experiment: An Interim Survey (1937). Douglas died in 1952.