June 1, 1908 (10th Parliament, 4th Session)

CON

George Eulas Foster

Conservative (1867-1942)

Mr. FOSTER.

Yes. Probably the better way would be to read what is stated.
After calling attention to the fact that in the case of the Banque Ville Marie an investigation was held by the Finance Department and punishment meted out to the guilty parties, it goes on :
In the case of the Banque de St. Jean there are the same kind of harrowing experiences attending the depositors as beset the depositors of the Banque Ville Marie and the Banque du Peuple. Among the depositors of the ill-fated Banque de St. Jean are to be numbered priests, nuns, guardians, widows, orphans, farmers, merchants, artisans, peddlers of farm and other produce and the usual clientele of the modest country bank. The deposits as a rule run from ten and fifteen dollars to a hundred and five hundred, and temporary deposits have sometimes run into the thousands.
Many special cases are detailed, and then it goes on ;
We have shown that in January in the report furnished to the government, the Banque de St. Jean credited itself with $751,859 of current discounts and $17,574 of overdue debts. But in the statement just issued by Mr. Tan-crede Bdenvenu, these current discounts or promissory notes are reduced to $191,396 or by $560,463 or nearly three-quarters. How has this huge proportion of the bank's loans been wiped out with, as it were, a stroke of the pen ?
Several questions follow, and then the query is put whether the Finance Department has as yet undertaken to do its duty in the matter as it did in the case of the Banque Ville Marie ? And that is the question I ask.

Topic:   THE BANQUE DE ST. JEAN.
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