over 7,125 merchants enrolled under the interim program. Government employees were partially paid with Treasury Branch vouchers with single employees, widows and widowers receiving 15 per cent of their salary in voucher form. Married employees were paid between 15 and 25 per cent of their salary in vouchers, and the calculation was made after all deductions. This policy encouraged employees to use the service versus other banks. The bonus system ceased in April 1945 and a contingency of $480,738 was paid out of the province's general revenue fund to a reserve fund for the purpose of covering the cumulative earned bonuses during the program. The Treasury Branches proved to be successful as deposits grew to $24-million by 1946, and by 1950 there were 45 Treasury Branches, six sub-branches, and 110 agencies employing 331 staff. Changes in 1950s and 1960s During the 1955 Alberta election the Treasury Branches came under scrutiny for allegations of preferential treatment for loans to members of the Legislative Assembly (MLAs), as well as preferential contracts awarded to firms indebted to the provincial government. The Treasury Branches provided significant loans to a handful of road construction companies, with the firm Sparling-Davis provided $4.5-million in loans, which was more than 20 per cent of the Treasury Branches overall loans. Premier Ernest Manning reluctantly approved a Royal Commission to look into the lending practices of the Treasury Branches the day before the 1955 election, the commission was led by Hugh John Macdonald and James Mahaffy. The commission was provided with narrow terms of reference and found there was no evidence of maladministration or wrongdoing by the government or the Treasury Branches. Prior to the formation of the commission the government responded to the allegations by introducing a bill in 1955 which prevented MLAs from borrowing from the Treasury Branches. The 1967 Royal Commission on Banking and Finance led by Justice Dana Porter recommended that a deposit insurance scheme be implemented for Canadian banks. Subsequently, in 1969 the 16th Alberta Legislature passed The Treasury Branch Deposits Guarantee Act which provided a provincial guarantee for the deposits of the Treasury Branches. Oil and gas boom and bust The Alberta economy grew significantly in the 1970s and early 1980s due to the rising price of oil. Total loans issued by the Treasury Branches grew from $10.6-million in 1950 to $1.9-billion by 1981. However, despite significant growth, prosperity would not last forever. All