March 20, 1941 (19th Parliament, 2nd Session)

LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

I wonder whether the hon. member would care to express an opinion on this point. Was it not a good thing for the country that the profits which the chartered banks were receiving in the decade of the twenties were sufficient to enable them to accumulate reserves which kept them solvent in the early thirties and prevented bank failures in this country such as they had in the United States? In other words, is it not a matter of considerable importance to the public that the banks should at all times be solvent?

Topic:   WAR APPROPRIATION BILL
Subtopic:   PROVISION FOR GRANTING TO HIS MAJESTY AID FOR NATIONAL DEFENCE AND SECURITY
Full View