For both. They have found it to work very satisfactorily for a number of years. I believe that this bill will fill a want particularly in the larger centres of population. This company, however, is debarred from taking deposits or selling debentures; they are lending simply their own money. The committee has added certain provisions at the suggestion of the superintendent of loan companies. I might add that the whole proposition has been agreed to by the secretary of the loan association in Canada, and there is no objection from any quarter to this bill becoming law, the general desire being to prevent men and women from falling into the hands of loan sharks, who exact very high rates of interest and show very little mercy on the maturing of the debt. I make this explanation only because the sponsor of the bill was not a member of the committee. I repeat, the committee gave very careful consideration to this bill because it embodied a new departure in this country.
Subtopic: THE FEDERAL LOAN COMPANY
have the bill as amended by the senate, and although not the sponsor of the bill, as the minister in charge of the patent branch I wish to say that there is no objection to the amendments which have been made by the senate.
After the words "Patent Act" in line 5 of the preamble, the senate has added the words "then in force, chapter twenty-three of the statutes of 1923." In the twenty-second line they specify the Patent Act, which means chapter 150 of the revised statutes, 1927. This is merely a clerical change. Besides that the senate has added as clause 2 of the bill the usual clause:
If, as provided by section one of this act, the said forfeited application is restored and a patent is granted for any invention therein described, any person who between the nineteenth day of May, 1925, and the twelfth day of November, 1927, has commenced in Canada the manufacture, use or sale of that invention, may continue such manufacture, use or sale in as full and ample a manner as if this act had not been passed.
That is the usual precautionary clause, but it had not been incorporated in the bill. So the amendments made by the senate improve the bill.
Motion agreed to; amendments read the second time and concurred in.
Subtopic: PATENT OF WILLIAM H. MTLLSPAUGH
merely a renewal of patent rights. The wording of the bill is quite clear. If the hon. gentleman desires I can go over the section with respect to the rights saved, but I think it would save the time of the committee not to engage in an extended explanation.
Subtopic: DOUGLAS J. MARTIN PATENT
give an explanation to the hon. gentleman. Not longer than a year ago we gave the Sisters of Charity of the city of Ottawa power to own property to the extent of five million dollars. That congregation is of far less importance than the one concerned in this bill. The Sisters are asking for power to have money or hold property to the extent of six million dollars, if I remember correctly.
Subtopic: THE SISTERS OF CHARITY OF THE NORTH WEST TERRITORIES