I do not know. I have
never been Finance Minister. Tlhe Finance Minister could probably answer that question, but I cannot. If there was opportunity for a government to favour one bank more than another, and a particular bank was friendly to them, I have no doubt they would favour it. I think that is true of all governments. Governments are made up of human beings, they are naturally going to favour their friends and generally speaking they are pretty nearly right in favouring them, but I do not wish to put the whole banking system of this country into the hands of any government, whether it be the party sitting on this side of the House or the Liberal party on the other side of the House. I should not care to put the banking system into their hands and allow them to favour their friends by giving loans to those to whom they chose to give them. I consider if you go on nationalizing enterprises you take away the personal incentive and initiative needed to build up the country. Not only that, but you paralyse to a certain extent private enterprise, which after all, under our present system-although it can be improved in many ways-is the stimulus which makes the wheels of industry go round and tends to make the country prosper.
National Banking System
Subtopic: NATIONAL SYSTEM OF BANKING