October 28, 1932 (17th Parliament, 4th Session)

IND

Angus MacInnis

Independent Labour

Mr. MacINNIS:

When the house rose
at six o'clock, Mr. Speaker, I was quoting some extracts with regard to the need for increasing purchasing power. Now I wish
to quote from an editorial which appeared in the Mail and Empire of Toronto under date of September 6, 1931. This editorial was taken in part from the London Morning Post, which the Mail and Empire terms the most Conservative newspaper in the world. The editorial reads:
Real wealth seems unreal to most people. . . . Economics, to put it vulgarly, is in a pretty rotten state. No one dare deny the nature of real wealth; yet no country dare accept it as a gift under the name of reparations. Real wealth in the form of primary products has to be destroyed or wasted in vast quantities. Cheapness is regarded as a tragedy, and yet millions of people are in want or actually starving.
There seems no little need to reconsider creed and philosophy, and the omniscience of financiers and economists is beginning to look more than doubtful.
The point I was making in connection with the treaty under discussion, Mr. Speaker, was that it has done nothing to increase purchasing power. There is very little mention in it of increasing purchasing power as far as that can be done by monetary changes, and there was no mention at all of increasing purchasing power as far as that can be done by increasing wages. I wish to refer to an
668 . - COMMONS
Impeiial Conference-Trade Agreements
editorial which appeared recently in the Vancouver Province, which is a Conservative newspaper if it has any politics at all.

Topic:   IMPERIAL ECONOMIC CONFERENCE
Subtopic:   CONTINUATION OP DEBATE ON THE MOTION FOR APPROVAL OF TRADE AGREEMENT BETWEEN CANADA AND THE UNITED KINGDOM
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