I have another matter to
bring before the committee. I find in La Presse, Montreal, on May 18, 1931, tire statement that the price of butter is so low that butter is used to make soap. After reading this statement I can readily understand how easily my hon. friends to your right, Mr. Chairman, washed their hands of the responsibility for the low price of butter, which is rather easy on account of the fact that butter is used in the manufacture of soap.
What quantity of butter was in storage last year when the high duty was imposed? There was quite a large quantity. On August 1, 1930, there were 32,643,390 pounds of creamery butter in storage, and 944,539 pounds of dairy butter. On September the first, after the Prime Minister had been in power for a few weeks and had repeated that he was going to make good his policy of increasing the tariff on farm commodities, the amount of creamery butter in cold storage was 39,572,168 pounds; about 7,000,000 pounds more than the previous month. I am under the impression, Mr. Chairman, that your constituency is partly a rural constituency surrounding the beautiful city of Fredericton, and consequently you must be familiar with the prices of farm products. No doubt you recall that as soon as the tariff was put on butter the price rose 2 cents a pound-it was the same story as in regard to glass- at that time there was over 40,000,000 pounds of butter in cold storage, so that those who had hoarded that butter made an excess profit in the aggregate of 1800,000. The huge sum
came out of the pockets of the people for the benefit of the owners of cold storage plants. It is a most serious condition of affairs, because the farmers were deprived of that $800,000.