{{short description, Political party in Canada
The New Capitalist Party was a short-lived political party in
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
that nominated three candidates in
Toronto
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...
Mayor of Toronto
The mayor of Toronto is the head of Toronto City Council and chief executive officer of the municipal government. The mayor is elected alongside city council every four years on the fourth Monday of October; there are no term limits. While in ...
unsuccessfully in 1947, and had founded a religious organization called the Order of God-like People in 1961.
In the election, O'Hearn won 600 votes in
York—Scarborough
York—Scarborough was a federal electoral district (Canada), electoral district represented in the House of Commons of Canada from 1953 to 1988. It was located in the provinces and territories of Canada, province of Ontario. In the twelve gener ...
riding, 0.4% of the total. Doug Tilley won 235 votes in
York—Humber
York—Humber was a federal electoral district represented in the House of Commons of Canada from 1953 to 1968. It was located in the province of Ontario. This riding was created in 1952 from parts of York South riding.
York—Humber consisted ...
riding, 0.6% of the total. Ferris Kendall-Leicester won 174 votes in Spadina riding, 0.8% of the total.
The party may have subscribed to monetary reform of
social credit
Social credit is a distributive philosophy of political economy developed by C. H. Douglas. Douglas attributed economic downturns to discrepancies between the cost of goods and the compensation of the workers who made them. To combat what he ...
parties. Kendall-Leicester had been a candidate for the
Social Credit Party of Canada
The Social Credit Party of Canada (french: Parti Crédit social du Canada), colloquially known as the Socreds, was a populist political party in Canada that promoted social credit theories of monetary reform. It was the federal wing of the Canadi ...
, which had largely collapsed in English-speaking Canada prior to this election.
O'Hearn stated that the government's banking policy had robbed Canadians of $1,000 each, and that his party would get it back "by hook or by crook". Asked to clarify this statement, he indicated that, "If we can't free ourselves by legal means, then we must resort to our inherent rights, even war if necessary." Tilley stated that the banking system is the root of all evil in Canada. The party was also opposed to the Bank of Canada's policy of burning old banknotes, arguing that they should be kept in circulation.
The party also promised to reduce the 11% federal sales tax, and the national debt, and cut the price of a loaf of bread to 5 cents.
Sources
* ''
The Globe and Mail
''The Globe and Mail'' is a Canadian newspaper printed in five cities in western and central Canada. With a weekly readership of approximately 2 million in 2015, it is Canada's most widely read newspaper on weekdays and Saturdays, although it ...
'' and ''
Toronto Star
The ''Toronto Star'' is a Canadian English-language broadsheet daily newspaper. The newspaper is the country's largest daily newspaper by circulation. It is owned by Toronto Star Newspapers Limited, a subsidiary of Torstar Corporation and pa ...