Hon. CHARLES A. DUNNING (Minister of Finance) moved that the house go into committee at the next sitting to consider the following proposed resolution:
That it is expedient to introduce a measure to authorize the guarantee by the government of Canada of principal and interest of loans made by chartered banks and guaranteed by the provinces of Alberta and Saskatchewan, respectively, for the purchase of seed grain and for providing other assistance to farmers in connection with seeding operations during the spring of 1938; the liability of the government of Canada in respect of such guarantees not to exceed in the aggregate the sum of $1,900,000 in respect of Alberta and $14,500,000 in respect of Saskatchewan.
He said: His Excellency the Governor General, having been made acquainted with the subject matter of this resolution, recommends it to the favourable consideration of the house.
Motion agreed to.