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

CON

Edmund Boyd Osler

Conservative (1867-1942)

Mr. OSLER.

If that is the case, while there is, of course, a certain risk, as in all things, you absolutely prevent that Bill being applied to other parts of the country for the purpose of fraud. As the promoter of the Bill says now, $20,000 would be an outside estimate for the first capitalization. If the operations grew from year to year, application would be made to the Finance Minister and to Council and a certificate given to increase the capital, tout if we should limit what is really in the mind of the promoters of the Bill, to say $20,000 to begin with, we would have a maximum amount of money which would absolutely prevent any temptation to people elsewhere to take advantage of the Bill. That is a simple solution and if that was accepted most of the other clauses would be quite safe, and we could thoroughly trust the people who organize and go into such a society to guard themselves.

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