The 1980s brought what some considered to be unconscionably high interest rates to Canadians and Albertans. in 1979 Albertans went to the polls. A key policy measure was interest shielding program which assisted Treasury Branches’ borrowers. The below memo written on behalf of the de facto inner cabinet succinctly terminated the program.
ALBERTA EXECUTIVE COUNCIL
FROM: Harry Hobbs
Deputy Minister
TO: Honourable Lou Hyndman
Provincial Treasurer DATE: May 28, 1980
SUBJECT: TREASURY BRANCHE INTEREST RATES
At its meeting of May 26, 1980, the Finance, Priorities and Co-ordination Cabinet Committee agreed that Treasury Branches would discontinue shielding of interest rates in view of the current levels of interest being charged by the chartered banks.
Harry B. Hobbs
c.c. Mr. A.F. Collins
In the below correspondence, a Lethbridge M.L.A. tactfully suggests some patronage for a particular constituent. It is unknown whether Treasury Branches did take up the Treasurer’s “suggestion.”
John Gogo Source: Provincial Archives of Alberta Hermis
LEGISLATURE ASSEMBLY ALBERTA
MEMORANDUM
FROM: John Gogo, M.L.A. DATE: May 6, 1980
Lethbridge West
513 Legislature Building
TO: Hon. Lou Hyndman
Provincial Treasurer
323 Legislature Building
RE: TREASURY BRANCH SOLICITORS
Allan Krushel
Huckvale Wilde and Krushel
612- 3 Avenue South
P.O. Box 1028
Lethbridge, Alberta
Would you please add Mr. Krushel’s name to the Treasury Branch list of approved solicitors.
Signed John Gogo M.L.A.
JG/mh
ALBERTA TREASURY
FROM: Lou Hyndman
Provincial Treasurer
TO: Mr, John Gogo DATE: June 9, 1980
Lethbridge West
513 Legislature Building
SUBJECT: TREASURY BRANCH SOLICITORS
Thank you for your memo of May 6, 1980 regarding the addition of Mr. Allan Krushell law firm Huckvale, Wilde and Krushel, to the Treasury Branch list of approved solicitors.
I have given Mr. Krushel’s name to the Superintendent of Treasury Branches, Mr. Fred Sparrow.
Many thanks for your suggestion.
LDH/kaz
Sources: Provincial Archives of Alberta, PR1986.0245 (Hyndman papers), Box #38, File 558.
Related Posts