Right Hon. W. L. MACKENZIE KING (Prime Minister):
Mr. Speaker, I might give the house a little information with respect to the matters of price control in the United States and the attitude of this government towards the possible consequences thereof.
On June 30, the emergency legislation in the United States which authorized price, rent and rationing controls expired. As I understand it, the consequence is that there is at the present time under federal law no price control, no rent control and, with the possible exception of sugar, no rationing in the United States. There are, of course, certain states and municipalities which have taken emergency measures or maintained existing regulations which are not affected by the. expiration of the federal law.
This situation has, not unnaturally, raised certain questions in the minds of many Canadians. The government feels that the first opportunity should be taken to assure parliament and the country that there is no intention of abandoning similar controls in Canada.
Foreign Exchange Control
Developments affecting prices in other countries, particularly the United States, are, of course, not without their effect upon Canada. Our policies have, in the past, and will, in the future, necessarily continue to have such developments in mind.
Price control, rent control and the control of supplies existed in Canada before they were adopted in the United States. Canadian regulations, while similar in objective to those in the United States, have often differed quite widely both as to their form and their nature. In other words, we in Canada have followed our own course, which we believe is well adapted to Canadian conditions and to the Canadian economy. We shall continue to follow policies which we believe to be in the general interest, making, from time to time, such modifications as seem to be required in the light of internal and external conditions as they develop.
Subtopic: EXPIRY OF UNITED STATES LEGISLATION- RETENTION OF CANADIAN CONTROLS