STAPLES (Macdonald) moved for leave to introduce Bill (No. 146) to amend the Interest Act. He said: The
object of this Bill is to remedy certain grievances which at present exist, more particularly in the western provinces, where there is a great deal of buying and selling of land. For instance, if a farmer wishes to increase the amount of a loan on his land, he is at the mercy of the company which has made the existing loan, and if he desires to pay off the loan, he has to pay the bonus stipulated in the mortgage, which is sometimes very excessive. This measure is proposed for the purpose of remedying these grievances, and making it easier to conduct business in the buying and selling of land in the west.