Mr. Speaker, in accordance with the standing order, I gave you notice this morning of my intention, at the opening of this sitting, to raise a question of privilege affecting parliament in general. So that my question of privilege may be well understood, I should like to quote two excerpts from the Globe and Mail of October 18 last as follows-
A strongly worded criticism of government monetary and fiscal policy by Neil J. McKinnon, chairman of the Canadian Imperial Bank of Commerce, was delivered yesterday to an international conference of the Financial Executive Institute.
Later, Mr. McKinnon is quoted verbatim and I quote:
It is not too much to say that government deficit spending, combined with a permissive monetary policy that allows continuous inflation really involve a massive swindle-a swindle perpetrated on the great majority of the populace who are least able to protect themselves against the consequences.
[DOT] (2:40 p.m.)
I have clippings from several newspapers. I shall simply quote one sentence from he Devoir of the same day to place on the record a French translation of this text which I deem objectionable and defamatory to parliament in general. It is translated as follows in Le Devoir:
-en fait, une gigantesque duperie, duperie com-mise contre la majeure partie de la population.
Well, Mr. Speaker, I say that if the government can be accused of such flagrant dishonesty, this intimates that the entire membership of the house is accessory to this dishonesy, that they have not protested at the
proper time. That is where I claim there is a breach of the privileges of all members who are entitled to their good reputation and to see that their integrity is not lightly attacked. If I may be allowed, Mr. Speaker, I shall attempt by a few brief remarks, to prove my point.
Subtopic: MR. MONGRAIN-CRITICISM BY BANK PRESIDENT OF FEDERAL FINANCIAL POLICY