June 7, 1905 (10th Parliament, 1st Session)


Alfred Thompson

Conservative (1867-1942)


I am glad to find even one man to agree with my position. To me it seems feasible, but whether it is feasible or not, we are sure the government should buy our gold. This gold should not go to the United States, it should remain in Canada and help build up our own cities. Eventually no doubt, as the Finance Minister said the other day, the government will buy our gold ; but in the meantime the miners are losing a good deal every year. The assay office is in Vancouver, whereas it should be in Dawson where the miner could go with his gold, put it on the counter and have it weighed by an official and get full value for

it on tlie spot, instead of allowing a middleman to make something out of the exchange. I hope the government will do that before long. This gold question is a very interesting one to me, I have thought and read a good deal about it; and I do not see anything against the government hoarding this gold until the mint is completed. The Finance Minister told us the other day that the Dominion government had to have 25 cents worth of gold on every dollar up to $30,000,000 given out, making $7,500,000. If my memory serves me right, he told us that the total circulation of the Dominion government was about $47,900,000. For every dollar above $30,000,000 the Dominion government had to put up dollar for dollar in gold. Now if there was $47,000,000 in circulation, that meant that he had $17,000,000 in circulation dollar for dollar in gold, and $7,500,000 as against the $30,000,000. making a little more than $25,000,000 in gold which the Dominion government had to keep on hand. So you see this gold proposition is not a new one with the Dominion government. As the Finance Minister pointed out. our circulation has vastly increased. I will read what he said, which will be found in the ' Hansard ' of May 17 :

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