Use of Canada's Financial Resources
grim reality about this business of banking. Here was this institution with its deposits, time and demand; with its loans; with its gold and with its securities, and there is the report as it stood at the end of November. At the end of December there had begun a shrinkage of deposits, and before the end of that month it is known to hon. gentlemen that the government of the day had to take the responsibility of either seeing the bank fail or permitting the Bank of Montreal to save it. I wonder if the efforts made by the Bank of Montreal to save the Ontario bank are known to hon. members of this house? I wonder if they appreciate the circumstances under which that was done? If the statement as indicated in the speech of the minister may be relied upon, this bank never should have failed.