December 14, 1910 (11th Parliament, 3rd Session)

CON

Edmund Boyd Osler

Conservative (1867-1942)

Mr. OSLER.

I think the hon. member for , Jacques Cartier is mistaken. Certainly for my part, I am entirely in sympathy

with the object of the Bill. I think the object of the Bill is one that ought to be provided for, either by this Bill or some other. We must consider what the effect of it might be by designing persons getting hold of the powers conferred by the Bill. In discussion before the committee the question was asked as to the probable amount of capital that would be accumulated under it, and I think the answer was that $20,000 would be a large amount, and $80,000 would be the ultimate sum that these societies have in view. I say without any hesitation, that as the Bill is drawn now, it will facilitate fraud. No doubt within three weeks after the passing of the Bill, there will be 50 societies incorporated, with officers and canvassers going round to get money.

Topic:   QUESTIONS.
Subtopic:   CO-OPERATIVE CREDIT SOCIETIES.
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