From 1932 to 1935, Aberhart lobbied for the governing political party, the United Farmers of Alberta, to adopt these theories, but it never did. It is doubtful that Aberhart fully understood the theories himself. The basis of Douglas's A+B theorem is that prices rise faster than incomes when regarded as a flow, and individuals' purchasing power should be supplemented through issuance of new credits that have not derived from the productive system. After Aberhart's lobbying of the United Farmers to adopt Social Credit principles was unsuccessful., he helped found the Social Credit Party of Alberta. This party won the 1935 provincial election by a landslide with over 54% of the popular vote and all but seven of the 63 seats in the legislature. Not even the Socreds had expected to win the election. Indeed, its expectations were so low that it had not named a formal leader during the campaign. The party was now tasked with selecting a leader who would become the province's new premier. Aberhart was the obvious choice, as he had been the party's founder and guiding force. He initially said he didn't want the job, but was finally prevailed to accept it. He was formally sworn in as premier on September 3 (11 days after his August 22 victory). However, he was not yet a member of the legislature. The Social Credit MLA for Okotoks-High River, William Morrison, resigned to give Aberhart a chance to get a seat, per standard practice in the Westminster system when a leader or cabinet minister doesn't have a seat. Aberhart won the November 4 by-election, held prior to the first sitting of the Legislature after his government's election. Aberhart was elected by acclamation. Aberhart served as his own Minister of Education and, starting in 1937, Attorney General. His government did not implement much of the Social Credit policies promised in the party's election platform, because of the province's very poor financial position in the depths of the Depression. The federal government's opposition to Social Credit and the threat it held over Alberta during its hour of weakness were significant blocks to Aberhart moving forward. The federal government has jurisdiction over Canadian currency and banks, under the British North America Act. However, there was no constitutional barrier to Alberta producing its own currency, which Aberhart's government did to a limited degree with its Prosperity certificates. Aberhart did threaten the power of private banks with his government's extension of the UFA government's foreclosure moratorium and mandatory debt adjustment. It has been said that the reason Premier Aberhart knowingly went beyond constitutional limits with proposed legislation was because it won him support among the electorate, for at least trying to do what he promised.