With the permission of the hon. member I may straighten this little dispute because it is really of importance. The document I quoted from was the Federal
Reserve report for April of this year; if I remember rightly it was dated April 15th. It gave the rates of interest charged in some 12 or 15 leading American cities, ranging from (5 per cent to 10 per cent. These were the . rates charged by the commercial banks of the country throughout the United States for prime commercial paper.