February 3, 1905

LIB

Romuald-Charlemagne Laurier

Liberal

Sir WILFRID LAURIER.

Certainly they will. But at present they send it to Seattle. The consequence is that most of the purchases for the Yukon are made at: Seattle. That is the place of exchange ; the gold has to be exchanged for everything a miner requires. We get a large share of the trade, for certain reasons ; but there is at Seattle, Tacoma and at other Pacific coast cities of the United States a large trade with the Yukon which we would get if the gold were to come here. With a mint at Vancouver, a great deal of the trade would go there. So that the establishment

[DOT]of a mint will give a great impetus to our j trade, and will give us a trade which we have not to-day. I think this reason should commend itself to the critical judgment of my hon. friend the leader of the opposition.

Topic:   SUPPLY.
Subtopic:   FEBKUAKY C, 1905
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CON

John Graham Haggart

Conservative (1867-1942)

Mr. HAGGART.

My idea of a mint is entirely different from that of the right hon. gentleman. If I am not mistaken, a mint in the United States or Great Britain coins gold free to the individual sending it. In the United States the gold is taken to the mint, not for the purpose of being sold, but for the purpose of being coined into money. The miner receives the full value of his gold in money. Then it goes, in the ordinary course of trade, to the country in whose favour is the balance of trade, for the purpose of paying that balance. And the making of mints will not cause a flow of gold in any particular direction. As soon as the mint coins the gold and hands it over to the individual, the gold will go in the end to where it is due and be used for the purpose of paying the balance of trade.

Topic:   SUPPLY.
Subtopic:   FEBKUAKY C, 1905
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LIB

Romuald-Charlemagne Laurier

Liberal

Sir WILFRID LAURIER.

How are these balances paid in any part of the world ? In the Yukon some years ago when there was no bank there, the miner brought his bag of gold to the counter where he exchanged it for something else. The gold was weighed and its value in goods given to him. But he would not follow the same process in the city of London. He would there bring his gold to the mint and would use the coins which he got in exchange for the purchase of what he required. The gold which is produced in Canada has to go somewhere to be coined. To-day we have a bank in the Yukon, and the miner goes to the bank and receives bank notes in exchange for his gold dust. But the bank has to send that gold dust somewhere, and I venture to say that every ounce of it goes to the United States because there it can be coined. Of course, the surplus will find its way to Europe or anywhere else where It may be required. But when we have a mint in Ottawa, the gold produced in Canada will be sent there to be coined. I dare say there will not be any profit to the government in the transaction, but we will gain by the fact of keeping in Canada a large portion of the trade which now goes to the United States.

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Subtopic:   FEBKUAKY C, 1905
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CON

Joseph Gédéon Horace Bergeron

Conservative (1867-1942)

Mr. BERGERON.

What guarantee have we that the miner will bring his gold to the Canadian mint to be coined instead of sending it to Seattle ? If the mint were established at Vancouver, as Mr. Maxwell, the late member for Victoria, urged, no doubt the Canadian nuggets and gold dust would be brought there to be coined. But there is no way of forcing the miner or the bank in Dawson City to send the gold down to the mint at Ottawa.

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Subtopic:   FEBKUAKY C, 1905
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LIB

Romuald-Charlemagne Laurier

Liberal

Sir WILFRID LAURIER.

It is now nearly 6 o'clock and if you will pass the item, I will move that the committee rise.

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Subtopic:   FEBKUAKY C, 1905
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LIB
CON

George Eulas Foster

Conservative (1867-1942)

Mr. FOSTER.

With the understanding that we may go back to the discussion.

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Subtopic:   FEBKUAKY C, 1905
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LIB
CON

Richard Blain

Conservative (1867-1942)

Mr. BLAIN.

I understood the First Minister to say that we would mint silver coin as well. In that respect he seems to differ with the Minister of Finance.

In the session of 1901 this question was put to the Finance Minister (Mr. Fielding) :

Will the Branch mint in Canada make British silver coins as well as gold coins ?

MINISTER OF FINANCE. No, there are reasons why we shall not undertake to make British silver coins. We make no profit in the production ol gold coins, because gold is worth no more in the form of coin than in the form of bullion.

Then the Finance Minister went ou to say:

If we could mint silver into British coins in unlimited quantity, we could make a great deal of money ; but it would be entirely unreasonable to expect the British authorities to allow us to engage in that enterprise.

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Subtopic:   FEBKUAKY C, 1905
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LIB

Romuald-Charlemagne Laurier

Liberal

Sir WILFRID LAURIER.

That is British silver, not Canadian silver.

Some resolutions reported.

On motion of Sir Wilfrid Laurier, House adjourned at 5.55 p.m.

Tuesday, February 7, 1905.

Topic:   SUPPLY.
Subtopic:   FEBKUAKY C, 1905
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February 3, 1905