June 14, 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)

Mr. BENNETT:

Sit down. If, when I have concluded, the hon. gentleman desires to ask a question I shall endeavour to answer it, but I am dealing now with an argument. There is the statement made by the Free Press on the day this bill was introduced when they thought the Liberal party was going to oppose the legislation. That is the position known to everybody, known to people on the streets of Ottawa. This is the contingency the hon. member for Shelburne-Yarmouth was no doubt alluding to.
I ask this house whether or not they are prepared to dump Canadian wheat on the market to satisfy the greed of the exploiter and the international speculator. That is the problem; that is the explanation. Who is trying to drive down the price of wheat below 80 cents? Who sold short upon the exchange last fall? Who endeavoured to sell vast millions of bushels they did not own? Who were they? All we can ascertain is that over the wires there came the orders to Winnipeg brokers to sell. Have you ever seen a wheat pit operate? Do you know what it means to have, in the closing minutes, sellers rush in to the exchange and offer wheat at any price-five cents below the market, seven cents, ten cents. Then the market closes. It opens in the morning, and to make the debacle complete, more selling orders pour in and the price goes down still further.

Topic:   CANADIAN GRAIN BOARD
Subtopic:   PURCHASE, STORAGE AND MARKETING OF WHEAT AND OTHER GRAINS
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