Alberta's Prosperity Certificates were a direct application of Silvio Gesell's "stamp scrip" theory — a social credit experiment pushed through by Premier William Aberhart's government in August 1936. Each certificate required a one-cent stamp to be affixed weekly to maintain its face value, a demurrage mechanism designed to force circulation and prevent hoarding. In practice, the public found the stamp requirement cumbersome and many merchants refused the notes outright.
The scheme collapsed within months. The federal government had serious constitutional doubts about provincial currency issuance, and the program was quietly wound down before Ottawa formally intervened. Fewer than 250,000 dollars' worth were ever issued against a planned much larger rollout.
Aberhart's signature appears alongside Provincial Treasurer Cockroft's — unusual for a premier to sign currency directly.
Alberta's Prosperity Certificates were a direct application of Silvio Gesell's "stamp scrip" theory — a social credit experiment pushed through by Premier William Aberhart's government in August 1936. Each certificate required a one-cent stamp to be affixed weekly to maintain its face value, a demurrage mechanism designed to force circulation and prevent hoarding. In practice, the public found the stamp requirement cumbersome and many merchants refused the notes outright.
The scheme collapsed within months. The federal government had serious constitutional doubts about provincial currency issuance, and the program was quietly wound down before Ottawa formally intervened. Fewer than 250,000 dollars' worth were ever issued against a planned much larger rollout.
Aberhart's signature appears alongside Provincial Treasurer Cockroft's — unusual for a premier to sign currency directly.