Walter Edward Harris (Minister of Finance and Receiver General; Leader of the Government in the House of Commons; Liberal Party House Leader)
Liberal
Hon. W. E. Harris (Minister of Finance) moved
that the house go into committee at the next sitting to consider the following resolution, which has been recommended to the house by His Excellency:
That it is expedient to introduce a measure to amend the Canadian Farm Loan Act to provide for a number of administrative changes under the act, inter alia, to reorganize the capital structure of the board by cancelling existing share stock and issuing new stock up to a par value of three million dollars; to allow loans to be made up to sixty-five per cent of the value of the lands with a maximum loan of fifteen thousand dollars; that there be only one reserve fund not exceeding an amount equal to the capital stock of the board;
And to provide further for the repayment of the capital advanced by the government to the
Proposed Legislation
board with respect to its operation under the Canadian Fisherman's Loan Act, less the deficit of the board on its operation under the act and the amount of outstanding loans.
Subtopic: AMENDMENTS TO REORGANIZE CAPITAL STRUCTURE, INCREASE AMOUNT OF LOANS, ETC.
