May 8, 1944 (19th Parliament, 5th Session)

LPP

Fred Rose

Labour Progressive

Mr. ROSE:

It is much more realistic than talk of easy money. This clipping is from the Montreal Gazette of Saturday, and it contains a story written to the New York Times by C. Daniel, pointing out that the United States bank had underwritten 2\ billion of goods to be sold to the Soviet Union. That is a lot of money. I believe that the yearly total of United States exports before the war were valued at about S3 billion, and here are 2\ billion being underwritten by private banks to one country. If they want to do that, let them go ahead.

Topic:   BANK ACT AMENDMENT
Subtopic:   CONDITIONS GOVERNING TEN-YEAR EXTENSION OF BANK CHARTERS
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