Hon. J. L. ILSLEY (Minister of Finance) moved that the house go into committee at the next sitting to consider the following resolution:
That it is expedient to introduce a measure to provide, inter alia,
1. That sums not exceeding $3,890,000,000 he granted to His Majesty towards defraying any expenses or making any advances or loans that may be incurred or granted by or under the authority of the governor in council during the year ending March 31, 1944, for-
(a) the security, defence, peace, order and welfare of Canada;
(b) the conduct of naval, military and air operations in or beyond Canada;
(e) promoting the continuance of trade, industry and business communications, whether by means of insurance or indemnity against war risk or in any other manner whatsoever; and
(d) the carrying out of any measures deemed necessary or advisable by the governor in council in consequence of the existence of a state of war.
2. That the governor in council be empowered to raise by way of loan under the provisions of the Consolidated Revenue and Audit Act, 1931, such sum or sums of money, not exceeding in the whole the sum of $3,890,000,000 as may be required for the purpose of defraying such expenses or making such advances or loans, the principal and interest of any such loan to be a charge upon and payable out of the consolidated revenue fund.
3. That the governor in council be empowered to re-expend, advance or loan moneys that may be received by way of refund or repayment of advances, loans or expenditure under the War Appropriation acts of 1939 (second session), 1940, 1941, 1942 and 1943.
He said: His Excellency the Governor
General, having been made acquainted with the subject matter of this resolution, recommends it to the consideration of the house.
Motion agreed to.