This is one of the crucial clauses of the Bill. Originally, this clause was limited distinctly to one electoral district. It is left now to the discretion of the Minister. By changing the word ' may ' to ' shall ' it would be so clear that any Minister of Finance would understand that he was expected to limit the distrifct within which any particular association can act. But it would still be within his power to give a license to one of these associations to cover a whole province. That ought not to be. . I sympathize very much with some of the things which have been said by the hon. member for West Toronto (Mr. Osier), in that particular. The York Loan Company has been instanced. In considering this Bill, one of the main things I would have in view would be to prevent anything like the York Loan happening, and if this Bill was properly drafted, the great losses which occurred on account of the York Loan, could not occur through an association incorporated under this Act. I still do not like that clause exactly as it reads. I think, if possible, there ought to be some way of so wording it, that the minister could not give a license to an association to act throughout a province. I think my hon. friend from Jacques Cartier is quite satisfied with that view of the case, but there is difficulty on account of the wording of it. Personally, I would prefer to see that clause further limited than it is at present.
Subtopic: CO-OPERATIVE CREDIT SOCIETIES.