March 10, 1911 (11th Parliament, 3rd Session)


George Eulas Foster

Conservative (1867-1942)


I wish to revert to the return to an order of the House of Corn-mans dated February 6, 1911, for a copy of the curators' reports in the cases of all banks for which curators have been appointed. 1 mentioned the other day, and the Finance Minister took note of it that with reference to the Bank of Yarmouth, instead of the return including the curator's report, it simply included a synopsis of the curator's report what I want is. not a synopsis which may be very different from the report itself, but that which is provided for in the Banking Act, and which the Finance Minister has a right to have, and which the member of parliament has a right to call for. Coming then to the Bank of St. Johns, and the St. Hyacinthe Bank, I think that the only thing brought down is a small page of statistics giving a financial statement, that and that alone. With reference to the other banks, the curators give reports upon the conduct of the banks, and causes that led to the failure and they detail the delinquents and in what matters they have been delinquent, which of course is the only thing that a curator's report is meant for. to give to the Finance Department, after it has given it to the Bankers' Association, an idea of what were the defects, what were the faults, what were the delinquencies, so that, having this knowledge, the department can do what is considered proper either to punish in these cases or to provide that such things shall not easily occur again. Therefore, in the case of the Banque de St. Hyacinthe and Bank of St. Johns I want the curator's report upon the nature of the transactions and the causes that led to the failures. They are given in the case of the St. Stephen bank with great particularity, and I may say that they furnish food not only for consideration, but for legislation. I am certain that the full report from the Bank of Yarmouth will do the same, and I shall be very much mistaken if we do not get profitable information from the curator's reports in reference to the. other banks. Therefore, what I want from the Finance Minister is first the full report of the curator in the case of the Bank of Yarmouth and the full reports of the curators in the cases of the Banque de St. Johns and the Banque de Hochelaga.

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