September 11, 1950 (21st Parliament, 3rd Session)


Hazen Robert Argue

Co-operative Commonwealth Federation (C.C.F.)

Mr. Argue:

On that point I should like to ask the minister a question relating to something I referred to in my speech. Perhaps he will recall what I said, but if he does not it is all right. I referred to the growing practice in my own community, and I believe also in other parts of the province of Saskatchewan, of bank managers asking farmers to give additional security on the purchase of a machine to that which is provided under the act. They are asking that the farmer deposit in the bank the title to his land, and as I understand it if the farmer has it in his possession it must be a clear title. Under the act there is provision for a mortgage and a hypothec in certain instances, but I refer to cases where the terms of the loan make it impossible for the bank to require a mortgage or hypothec. The minister is a lawyer. I should like him to tell me what it means when the bank manager asks the farmer to deposit the title to his land.

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