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:

My hon. friend was one of those who examined Mr. McFarland last year, and one of the very questions he asked Mr. McFarland was why he was buying wheat, and Mr. McFarland said he was buying wheat to protect the market. If speculators threw it on the market, he either had to buy it or see the market destroyed and chaos result. That is the very point. Somebody went on that exchange and sold 35 million bushels of wheat they did not own, and Mr. McFarland to protect the honest Canadian producer from ruin bought their wheat, and now they are trying to destroy the market and have a fire sale so that they can buy the wheat back and escape a loss. I want to make clear to this house and to this country what I had not intended originally to state with respect to this situation but which I regard it now as my duty to do in view of what has been said, in order that there may be no misunderstanding with respect to it.
Let us proceed a step further, and see what was said by the hon. member for South Battle-ford. He, with a great show of fairness, said that he was going to read figures that he obtained from the bureau of statistics. That is true. They are set out at page 3607 of Hansard, but Mr. Speaker, I cannot think that the hon. gentleman is so lacking in knowledge of the wheat business as to talk about the sale of 229 million bushels of wheat to Great Britain in the year 1929, for Great Britain's entire importation in any one year from all quarters does not exceed 200 million bushels.

Grain Board-Mr. Bennett

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