May 29, 1935 (17th Parliament, 6th Session)

CON

Richard Bedford Bennett (Prime Minister; President of the Privy Council; Secretary of State for External Affairs)

Conservative (1867-1942)

Right Hon. R. B. BENNETT (Prime Minister) :

While I was absent during that period, I have only to point out that there is no authority in the governor jn council to value gold at the present moment. One of the bills that may be submitted to the house is a permissive bill to come into force by proclamation in the event of it being thought desirable to revalue the gold reserves of the country. I have not any present intention of so doing, but it might well be that between now and the time the house meets again some government might regard it as desirable. My present intention is to submit to the house a bill, permissive in character, coming into force by proclamation, to deal with .that matter. I think I can assure the hon. gentleman that no order in council has been passed, because there is no authority to do so.

Topic:   REVALUATION OF GOLD RESERVES
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