Mr. E. B. DEVLIN (Wright):
The question which is before the House for consideration is, perhaps, one of the most important questions that we have had to discuss in recent years, not on account of the amount involved, $1,200,000, but because of the principle involved in this Bill, and because of the effect which its passing will have upon future legislation. If it could be shown me, assuming the facts which have been stated by hon. gentlemen opposite, notably by the Minister of Finance, that any negligence upon the part of the Treasury Board was a contributing cause to the failure of the bank, entailing upon the depositors a loss, I would then feel in conscience bound to vote in favour of the Bill. For that purpose I have listened very carefully to the speeches delivered so far by the Finance Minister (Mr. W. T. White) and the hon. member for North Perth (Mr. Morphy). The hon. member for Perth wound up his remarks by saying that the depositors ought to be recouped, not as a matter of right, not as a matter of law, but as a matter of grace.
Subtopic: THE FARMERS BANK.