February 3, 1905 (10th Parliament, 1st Session)

LIB

Romuald-Charlemagne Laurier

Liberal

Sir WILFRID LAURIER.

How are these balances paid in any part of the world ? In the Yukon some years ago when there was no bank there, the miner brought his bag of gold to the counter where he exchanged it for something else. The gold was weighed and its value in goods given to him. But he would not follow the same process in the city of London. He would there bring his gold to the mint and would use the coins which he got in exchange for the purchase of what he required. The gold which is produced in Canada has to go somewhere to be coined. To-day we have a bank in the Yukon, and the miner goes to the bank and receives bank notes in exchange for his gold dust. But the bank has to send that gold dust somewhere, and I venture to say that every ounce of it goes to the United States because there it can be coined. Of course, the surplus will find its way to Europe or anywhere else where It may be required. But when we have a mint in Ottawa, the gold produced in Canada will be sent there to be coined. I dare say there will not be any profit to the government in the transaction, but we will gain by the fact of keeping in Canada a large portion of the trade which now goes to the United States.

Topic:   SUPPLY.
Subtopic:   FEBKUAKY C, 1905
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