Mr. TAYLOR (Nanaimo):
In any case I think the point is well taken. Another move in the right direction is the sealing down to Canada of a call and short term money market. Congratulations to the minister. The enlarged field of operations of the Central Bank of Canada should very early show its worth in this aim and bring the whole financial situation of the country into more favourable acceptance throughout the world.
And so I pass along to the pleasure with which the minister reviews the rising credits abroad. This in moderation is an excellent sign but taken in excess, like salt it nauseates and poisons, and at this period of our country's growth we do well not to encourage foreign credits to the point where we are compelled to invest abroad. The days when such a condition was a compelling advantage are gone. We live to-day in a world where even a negro in central Africa can become an expert aeroplane mechanic, and the successful exploitation of any country is particularly well attended to by its own nationals.
I will finish on one note prompted by the rising note of cheer and challenge with which the minister closed his speech. Let us truly see to it, as he said, that we qualify as a people in continued endeavour, individual, corporate and national integrity, to a keener sense of trusteeship in carrying out our every day business and civic responsibilities; but,
The Budget-Speaker's Ruling
here I say, let us not lose sight of the fact that in doing all these things our paramount duty is to do them first in Canada, first for Canada, and first by and with the amazing resources of Canada and the no less amazing resourcesfulness of the Canadian people.
And so, Mr. Speaker, I end, having both praised and blamed. I do not want the minister to feel like that excellent old character, Dick Fennell, in Pinero's Sweet Lavender, when he said, "Blame, blame, blame-oh yes; but praise-oh dear no." I want the minister to feel that there are many things in his budget which we have good reason to accept and be satisfied with, but the eternal concession to the orthodox in economic situations worries me so that I cannot understand why it is that he so slavishly follows it. However, taking it all by and large, I shall have very much pleasure in voting for the motion.
Subtopic: CONTINUATION OF DEBATE ON THE ANNUAL
Sub-subtopic: FINANCIAL STATEMENT OF THE MINISTER OF FINANCE