May 26, 1939 (18th Parliament, 4th Session)

LIB

Malcolm McLean

Liberal

Mr. McLEAN (Melfort):

No, it is not all the same people. Let us suppose that we levy a contribution on the whole of the membership of the House of Commons to buy a new mace. That might be a fair and equitable distribution, but if we were to place the responsibility on nine or ten hon. members only, it would be most unfair. On individual holders of securities who made investments in good faith and who were willing to take the security promised them was placed the

Central Mortgage Bank
whole burden of the losses provided for under recent legislation. That condition cannot continue indefinitely. If it does, no one would have confidence to lend money, although probably at the present time some private individuals continue to do business.
I hope this legislation may go through quickly. There is an old proverb which says in effect that a thing quickly done is doubly well done. I was pleased to hear the leader of the opposition, the hon. member for St. Lawrence-St. George and the hon. member for St. Paul's support the principle of the bill, but there seemed to be a little doubt in the mind of the leader of the opposition. While supporting the principle of the bill and the necessity for it, and while reminding the house that four or five years ago his associates had promised, if returned to office, to redress the burden of home owners, I caught in his words a desire to delay.

Topic:   PROVISION FOR INCORPORATION, PURCHASE OF SHARES, ETC.-CONTINUATION OF DEBATE ON MOTION FOR SECOND READING
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