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

LPP

Fred Rose

Labour Progressive

Mr. ROSE:

If the bankers want to carry-on, let them carry on. But if they fail, let the government step in. The government has started with an industrial bank and we should have other similar banks to make credit easier in order that the people may carry on. That is a problem. If private enterprise fails, let the government step in. The government should not be merely a passive by-stander. The people are not prepared for socialization of banks at this time, and they can be scared by slogans used by reactionaries and be turned against those who mean well. People like Gladstone Murray- and others can still turn the people against those who may mean well, and the result will be that the people will go to the other extreme.
I did not vote either for or against the subamendment because I could not understand this sudden wedding of two parties. The one had just got up and attacked socialism while the other wanted socialism. If it is merely a question of opposition for the sake of opposition, then I say that is not in the best interests of the people at the present time, nor is it in the best interests of the people in the near luture.

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