April 15, 1918

UNI L

Frank Broadstreet Carvell (Minister of Public Works)

Unionist (Liberal)

Mr. CARVELL:

The committee, who are really the only ones exercising any jurisdiction in the matter, have decided they will not provide accommodation for the Speaker within the walls of the new building, but no further decision has been arrived at.

Topic:   THE NEW PARLIAMENT BUILDING.
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L LIB

Wilfrid Laurier (Leader of the Official Opposition)

Laurier Liberal

Sir WILFRID LAURIER:

I am sorry

that has been decided thus far. For the convenience of tjio Speaker himself, I think he had better be lodged in the building, as was done in the old building and as is the custom in Great Britain to-djay. If it is decided to erect a separate building for this purpose between the present building and the cliff, I think it would be most offensive to the eye. There is not enough space between the cliff and the present building for another building; and far from enhancing the beauty of the surroundings it would have the contrary effect'.

Topic:   THE NEW PARLIAMENT BUILDING.
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UNI L

Frank Broadstreet Carvell (Minister of Public Works)

Unionist (Liberal)

Mr. CARVELL:

There has been no decision to erect a building on the cliff. Per-ihaps hon. members will be in a better position to discuss these matters after they have examined the building carefully.

THE QUEBEC DISTURBANCES; ARMAND LAVERGNE.

Topic:   THE NEW PARLIAMENT BUILDING.
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STATEMENT 'BY THE MINISTER OP JUSTICE.


On the Orders of the Day:. Hon. C. J. DOHERTY (Minister of Justice) r I desire to answer a question which was put on Friday last by the hon. member for Westmorland (Mr. Copp). I was nqt present in the House when the question was put, but on the Orders of the Day the hon. member for Westmorland read what purported to be a report of some testimony given by Mr. Arruand Lavergne at the coroner's inquest in Quebec, as follows: They then asked him to go and address the crowd, and as he had previously received the offer to act as chief keeper of records of the M.S.A., in Ottawa, which he had refused.



The hon. gentleman's question was whether Colonel Lavergne ever offered to act as chief keeper of records of the Military Service Act in Ottawa. I say in answer that there is no such office as chief keeper of records of the Military Service Act in Ottawa. I am assured by Colonel Machin of the Military IService Branch 'that there never was any offer whatsoever made of this non-existing position to 'Colonel Lavergne, nor, so far as he or any of his officers know, did Colonel Machin ever offer to fill that non-existing position. If Mr. Lavergne's testimony is correctly reported, it would appear to be an instance of the over-activity of, a too vivid imaginaton.


EXCESS CIRCULATION ISSUE BY THE BANKS.

RESOLUTION TO APPROVE PROCLAMATION OF GOVERNOR IN COUNCIL.

UNION

Robert Laird Borden (Prime Minister; Secretary of State for External Affairs)

Unionist

Sir ROBERT BORDEN:

There is a

motion on 'Government orders which is somewhat urgent. It appears at page 22 of the Orders of the Day. The motion is very largely of a formal character, but it has to be made within thirty days after the opening of Parliament. In order that there may be no question as to the matter having been taken up within the limitation by law, I beg to move that the House proceed to Government notices of motion.

Topic:   EXCESS CIRCULATION ISSUE BY THE BANKS.
Subtopic:   RESOLUTION TO APPROVE PROCLAMATION OF GOVERNOR IN COUNCIL.
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Motion agreed to. -


UNION

Alexander Kenneth Maclean (Minister Without Portfolio)

Unionist

Hon. A. K. MACLEAN (Acting Minister of Finance) moved:

That the proclamation of the Governor in Council published on the 20th February, 1918, in the form following, be approved :- Devonshire [L.S.]

Canada.

* George the Fifth, by the Grace of God, of the

United Kingdom of Great Britain and Ireland

and of the British Dominions beyond the

Seas, King, Defender of the Faith, Emperor of

India.

To all to whom these presents shall come, or whom the same may in anywise concern,

Greeting r

A Proclamation.

E. L. Newcombe,

Deputy Minister of Justice, Canada.

Whereas in and by section 4 of the Act of Parliament of Canada, passed in the fourth and fifth years of ' Our Reign, and intituled: "An Act to conserve the Commercial and Financial Interests of Canada," it is provided among other things that in case of war, real or apprehended, and in case of any real or apprehended financial crisis. Our Governor in Council may, by Proclamation published in the Canada Gazette, authorize the several chartered banks to issue excess circulation from and including the first day of March in any year to and including the last day of August next ensuing, or during any

part of such period, to amounts not exceeding fifteen per cent of the combined unimpaired capital and rest or reserved fund of their respective banks, as stated in their respective statutory monthly returns to the Minister of Finance of Canada, for the month immediately preceding that in which the additional amount is issued,- Now Know Ye that by and with the advice of Our Privy Council for Canada We do by these presents proclaim and direct that the several chartered banks be authorized to issue excess circulation as in the said Act defined from and including the first day of March, 1918, to and including the last day of August, 1918.

Of all which Our loving subjects and all others whom these presents may concern, are hereby required to take notice and to govern themselves accordingly.

In Testimony Wihereof, We have caused these Our Letters to be made Patent, and the Great Seal of Canada to be hereunto affixed. Witness: Our Right Trusty and Right Entirely Beloved Cousin and Counsellor, Victor Christian William, Duke of Devonshire, Marquess of Hartington, Earl of Devonshire, Earl of Burlington, Baron Cavendish of Hardwicke, Baron Cavendish of Keighley, Knight of Our Most Noble Order of the Garter ; One of Our Most Honourable Privy Council; Knight Grand Cross of Our Most Distinguished Order of Saint Michael and Saint George; Knight Grand Cross of Our Royal Victorian Order; Gorvernor General and Commander in Chief of Our Dominion of Canada.

At Our Government House, in Our City of Ottawa, this Twentieth day of February, in the year of Our Lord one thousand nine hundred and eighteen, and in the eighth year of Our Reign.

By command,

Thomas Mulvey, Under-Secretary of State.

He said: Hon. gentlemen will remember that under the Bank Act banks are authorized at certain periods of the year to exceed their normal bank circulation, particularly during the period of harvesting crops in Canada. Ordinarily their note circulation is confined to their unimpaired paid-up capital, the amount of current gold accounts, and Dominion notes which they hold in the central gold reserve, which is a banking reserve. From the 1st 'September to 28th February they are permitted by the Act to issue excess circulation not exceeding 15 per cent of their paid-up capital, rest and reserve fund. Under this power the/ are obliged to pay to the Government at the rate of 5 per cent interest for such excess circulation. Section 4 of the Finance Act of 1J14 provides that the Governor in Council be further authorized to permit this excess circulation by the banks throughout the whole year; not only from the 1st of September to the let of March,~but from the let of March until the last day of August. Section 4 of the Finance Act reads :

The Governor in Council may by proclamation published in the Canada Gazette:-

t739

(c) authorize the several chartered banks to issue excess circulation, from and including the first day of March in any year, to and including the last day of August next ensuing, or during any part of such period, to amounts not exceeding fifteen per cent of the combined unimpaired capital and rest or reserve fund of the respective banks, as stated in their respective statutory montly returns to the Minister for the month immediately preceding that in which the additional amount is issued ;

The Finance Act further provides that this authority for excess circulation during the entire year, or during the addition. 1 period of six months.; (becomes effective 'by proclamation, and it always provides that the proclamation shall continue in force for not more than thirty days after the beginning of the next session of parliament, unless it has been approved by resolution passed by both houses of Parliament. Parliament opened on the 18th of iMarch, and consequently this proclamation must receive the approval of this House by resolution to-day, or possibly to-morrow. Therefore, it is, to keep perfectly within the statutory requirement, that I ask Parliament to approve of this resolution. No similar resolution was passed last year or the year before, for the reason that the proclamation issued while Parliament was in session, and the Justice Department advised the Department of Finance that the approval of Parliament was not necessary. I may say that the banks generally have exercised the powers granted under this proclamation. During the past year a total interest of $109,533.06 has been collected from the banks on account of excess note circulation. All of the chartered banks have availed themselves of the privilege given them under this provision of the Finance Act. I trust, therefore, that Parliament will be pleased to approve of the resolution. II might further say that on Friday last the 'Senate passed a resolution of approval.

'Sir WILFRID LAURIER: The House would be interested in knowing whether or not the banks all require this extension of power. Has a petition to this effect been presented to the Government, or has there been a resolution by the boards of directors of the banks?

Topic:   EXCESS CIRCULATION ISSUE BY THE BANKS.
Subtopic:   RESOLUTION TO APPROVE PROCLAMATION OF GOVERNOR IN COUNCIL.
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UNION

Alexander Kenneth Maclean (Minister Without Portfolio)

Unionist

Mr. A. K. MACLEAN:

The very fact that the banks have all exercised the privilege granted by the Finance Act clearly shows that they desire the privilege, and the proclamation was made upon the presentation of the banks.

Topic:   EXCESS CIRCULATION ISSUE BY THE BANKS.
Subtopic:   RESOLUTION TO APPROVE PROCLAMATION OF GOVERNOR IN COUNCIL.
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L LIB

Wilfrid Laurier (Leader of the Official Opposition)

Laurier Liberal

Sir WILFRID LAURIER:

Yes, that may be so, but, since Parliament has to review the proclamation, in the nature of things

47*

Parliament should be informed in the same way as the Government was informed. I am prepared to believe that the banks have asked for it; therefore, I see no serious objection.

Topic:   EXCESS CIRCULATION ISSUE BY THE BANKS.
Subtopic:   RESOLUTION TO APPROVE PROCLAMATION OF GOVERNOR IN COUNCIL.
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Motion agreed to. On the motion of Hon. J. D. Reid the House returned to the "Orders of the Day."


PRIVATE BILLS.

CONSIDERED IN COMMITTEE-THIRD READINGS.


Bill No. 9, respecting Fraser Lumber Company, Limited, and Fraser Companies, Limited.-Mr. Elkin. Bill No. 22, respecting The Canadian Society of Civil Engineers and to change its name to "The Engineering Institute of Canada."-Sir Herbert Ames. Bill No. 8, respecting The Cosmos Cotton Company.-Mr. Spinney.


PATENT OF O.G.C.L.J. OVERBECK.


House in committee on Bill No. 29 respecting a patent of O.G.C.L.J. Over-beck.-Mr. Fripp. Mr. Boivin in the Chair. On Section 2:


UNION

John Allister Currie

Unionist

Mr. CUERIE:

What is this Bill about? I see it is one of those German patents, and I was wondering whether it was some patent in connection with munitions and whether a German firm wants to get in on it. Have you the memorandum, Mr. Chairman, which is issued on each of these Bill, .stating whart the object is?

Topic:   PATENT OF O.G.C.L.J. OVERBECK.
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April 15, 1918