Hon. W. E. Harris (Minister of Finance):
The policy of the Bank of Canada with respect to term credit has been, for over a year I think, to restrict the growth of credit at the rate that it was then proceeding. This has been the policy since October, or a little earlier, in 1955. That does not mean that it is a straight curtailment of credit. It is a curtailment of the rate of growth at that time. I think that we have been successful in restraining that growth to the point where credit is still growing though at a more modest rate. Therefore, I do not see any particular conflict.