^Ji ^>. VI IMAGE EVALUATION TEST TARGET (MT-3) 1.0 I.I ^ tiS, 12.0 1.25 IIIIII.4 M 2.2 1.8 1.6 /. ^ ^^^ y available for filming. Features of this I may be bibliographically unique, alter any of the Images in the n, or which may significantly change lethod of filming, are checked below. red covers/ rture de coulaur s damaged/ rture endommagda i restored and/or laminated/ rture restaurie et/ou peiliculde title missing/ } de couverture manque ad maps/ giographiques en coulaur ed ink (i.e. other than blue or black)/ ie couleur (i.e. autre qua blaue ou noire) sd plates and/or illustrations/ es et/ou illustrations an coulaur with other material/ i/ac d'autras documents inding may causa shadows or distortion nterior mergin/ ire serree peut causer de I'ombra ou da la ion ie long de la marge interieure eaves added during restoration may within the text. Whenever possible, these »en omitted from filming/ ut que certaines pages blanches ajout^es ne restauration apparaissant dans la texta, irsqua cala 6tait possible, cas pages n'ont fiimdas. L'Iristitut a microfilma la meilleur exemplaire qu'il lui a eti possible de se procurer. Les details da cat exemplaire qui sont peut-dtre uniques du point de vue bibliographique, qui peuvent modifier une image reproduite, ou qui peuvent exiger una modification dans la m^thode normale de filmage sont indiquAs ci-dessous. n~1 Coloured pages/ Pages da coulaur Pages damaged/ Pages endom.nag^es Pages restored and/o( Pages restaurees et/ou pelliculees Pages discoloured, stained or foxec Pages ddcolorees, tachetdes ou piquees Pages detached/ Pages d^tachees Showthrough/ Transparence Quality of prir Quality inigale de I'impression Includes supplementary materia.. 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The copy filmed hare has be to the generosity of: Library of th« Archives of ( The images appearing here a possible considering the con of the original copy and in k( filming contract specificatioi Original copies in printed pi| beginning with the front cov the last page with a printed t sion, or the back cover wher othor original copies are film first page with a printed or 11 sion, and ending on the last | or illustrated impression. The last recorded frame on e< shall contain the symbol —^ TINUED "), or the symbol V ( whic^iever applies. Maps, plates, charts, etc., mi different reduction ratios. Thi entirely included in one expos beginning in the upper left ha right and top to bottom, as nr required. The following diagri method: nal comments:/ intair^s suppl^mentaires; limed at the reduction ratio checked below/ est film* au taux de reduction indique ci-dessous. 14X 18X 22X 26X 30X 71 16X 20X 24X 28X 32X film* fut reproduit grAce t la La bibliothdque des Archives publiques du Canada iivantes ont 6t6 reproduites avec le in, compte tenu de la condition at de i'exemplaire film6, et en rec les conditions du contrat de es originaux dont la couverture en mm6e sont film6s en commen^ant ' plat et en terminant soit par la qui comporte une empreinte ou d'illustration, soit par la second cas. Tous les autres exemplaires t film^s en commenpant par la i qui comporte une empreinte 9u d'illustration et en terminant par ge qui comporte une telle ties suivants apparai'tra sur la B de cheque microfiche, selon le le — ► signifie "A SUIVRE ". le jnifie "FIN". inches, tableaux, etc., peuvent dtre iux de reduction diffdrents. :ument est trop grand pour dtre n seul clich6, 11 est film6 d partir §rieur gauche, de gauche i droite, bas, en prenant le nombre ssaire. Les diagrammes suivants §thode. iiiiikc \\iia( HI raiij,'ciiii'ii I'liNiiic tlii'ir liL'iiij,' tiicii Mr. HLAKI';. I snii] IfoiiHc ami tlu! lion, u iimi). I ilo not nmlci.s tliut tli(< L-iriiiliitioM (pf without pidviiling tliat Mr. FO.sTKi;. 'I'hc 1 tlmt miittfi-. Mr. MLAKK. 1 am is gi'ttinu to soft inoiu'v Mr. I>A\IK.S (|>.|.;.'i eniictinj,' the tii-wt |iurt ol tilt y sliidl nuikf .s cli an to tonsure tin; LiicuJiitio liank.s liavL' to t'stalilisl llian at those nicntionucl .Mr. I'O.STKi:. If it circulation of (he notes ; lie l'!(talili.-iieeirs (Mr. Thf dillieidty will he yer to the large hanks, each •siilerahle uiindier of o(lic( compensate the other hy for i''deni|)tion. It is" i gard to the .siiialJci- liaiib note issuid hy the Maiik ( which i.s hail. It d in for re •f an ai'iangcment c.oiih hanks foi- their mutual a gard. 'he diliiculty might Mr. FOSTER. The indicateil in .section .")(i, i have voluntarily taken on compulsion laid on them ; is an arrangement into wl to enter. To the represei instituticn.s, 1 pointed ( " 'i: -h the hon. gtjntleman ^.lid, tlmt practically tluwt midalili', hecau.se they Wt heen during the last year, the condition of things amrpngst ihenixelves. and Would he evperienced. Ii i|Uite dillerent matter, if id.^iiry clairic againsr the haiik.s. Mr. 1;L.\KK. I ,,mlea ileinans .statement. If ti itislied. Wf shmdd he .sili < ii -icction oT, Mr. FO.STKPv. We wil word '• nut " in .section .")7. make u lull lu riuij,'ciiii'iit.s iiic iicct ssiuy in oi'iki' to fiiKiiri' tiu'ir lifiiiji tiiculiitcd at. piic, not \iv\(,\\ pui'. Mr. HLAKK. J sniiposc mc aif a hard iiioiiiy HouHc and th(^ lion, -fntlcnian is a iiard moni'v man. I do not nmlci.stand how mc can declatv that th(< oinidation of tiic hank .siiall \ther iigi neies must he established. Mr. DAVIKS (P.F.j.) Tt will imiio.se a very heavy duty on the smaller hanks, es|,.ciallv tlio.se in the Maritime I'rovinees, if they hav.^ iii order to ensure payment at par of the eiriulatioii throngh- out the Dondnion. to establish ageneies in ..very town and city in Canada. Mr liLAKK. The latt<-r part of this clause i.s iiot an adeipiate jiro\ i.sion for the fidtilnient of the first part ot it, and if it is to be interpreted as an exjKisition of what the banksare to do in fidlilment of the obligati(,n of the prior puvt, it is altogether an inadei|uate fiiliilment. The clause wimhl be .snvnger with its original wording, and with the latter ])arl struck out. 1 feel there is a .'reat deal of ilithcidiy in th.' direction which the "hon member for (^Uieen's (Mr. DaviesI has pointed out I -.v dilhculty will be rery small imleed in regar.l . to the laige banks, each of which posses.-^es a con- ■ -iderable niindiei- of ofHces, and each of which can c.,mpensate the other by niakiiiii niutual facilities for i"."leinption. It is dirterent, however, in re- gard to the smaller banks. Take, for insiance a II ite i.ssu, d by the Baid< of Prince Kdward Island ^^hlch IS handed in for redemption at \'aiicouver' It an arr.ingement could be made between the banks for their niutual neconinioilation in this re- gard, -he .lilticulty might be sohcd. Mr. FO.STER. The arrangement which is indicated III .section ."i(i, is one which the banks have voluntarily taken on iheni.selves. It is not a compnlsir.n laid on them against theii will, but it IS an arraiigenieiit into which they are .piite willing to enter. To the represent ative.s of the baidiiii" mstituticiis, I pointed out the \<-ry oiije.'tions which the hon. gentleman has taken. "The bankers said, that jiractically those objections were not foi - midabhs becaii.se they were even now, and iiad been during the last year, very materially altering the conditir)ii of thing.s liy agreements ma.le i amongst themselves, and no flitfieulty wh.itever wuring this time, the .h.ubh' liabjlity which' appears to the public is w h.dly illnsoiT. Any .ank which i.s in a position t, i.',;on at all, .m.di't l.e able to sell its stock in mIx montli.s. On schedule I), -Mr. HLAKK, I confess that it is very dilhciilt for me at any rate, to judge Mhich form is best We ought certainly to obtain all the information i which We can witlnmt unduly h.unpeiing the opera jtions,, the bank.s, an.l we ought even to ..(.tain [ such informatmn as is esMmtial to a fair view of the situation though it may, to s..me extint, hanu.or them. I.ut we know that some of o„r banks ' o.casi.mally place large sums of money at ofirthn. kir i..,ints n, the States, and .!., ■c.usid.rabl.. business there. A bank, for instan.ie, may hav,. a large sum of money at an agency in .New York and another at an ageiuy in ,Sui l-7ancis.-., ; and if you take into a.coimt the gr.>ss .sums due by and , to these agencies, yon might g.t, 1 will n,,t "say a I.erfect view, let a .•ousi.lerable insight int.. "the ; amount of ( anadian funds invested in the ruitc.l .Mates. I hat would be very int.-re.stinL', if it ,lid not unduly hamper ,he ojieiations .,f the banks in he I, nit..d .States. V/e ,lo not at piT.s,.nt ask bow much.it a bank's capital it is using in T.,ronto, AJ.mtr.Ml, L.anl.a. or other phuns where it is. loin.' laisini s.s. I.s theiv any public groun.l w by we should do what IS now piopo.s.d. if It is g..iiig 'to interfere with th(i bus:ne,ss .,1 our banks in the .states '' The I only gi.mml that has been siigKcstcl is, that if it is t..und that they are investing any large sums of i money there, .s..me business tax may be im,,o.sed iup..n them. We know that some of ,he,n are ; oblig... to pay a business tax ii..w. 1 supp.is.. they ! w.aihl like t.. hem the p...sition of s,,m.. p..„ple who , are taxe.l on iii..,me, th.-.t nobody but thems..ly..s shouh know, on what in.<,m.. I'his bnsiri..ss tax ; sliould be .;omputed. I Mr. RL.XKK. I .symp.il,,,,. with the .state- nients of the hon. member for Canlw.ll (Mr I \\ lute), an.l I suggest to the Finance Mini.st.r that as I do not suppose he intends to take the third rva.hiig to night, he shoul.l c,,nsi,ler the sulMeet ami communi.af.. with tin. bankiiiL' au- thorities to a.sc.rt.dn wlnthcr there is any real difhculty that ca;i b,. state.l by hi „ th.. tfo.-r .,f the Hou.se in th,. way of the sut,'gesti<,n b,.i,nr ear- ' . ""^' ''LVau.se the statement of the hon .lo in 11. it get the I,' allow II gentl.inan ..ertainlv shows that we iinything like appunchini,' the fa.t turn. Mr. FO.STKH. I luve no .,bjcrti„n to to go ill that way. •Mr. KKX.W. I understood the hon for Cardw, 11 (Mr. White) to r.lcr snh K llaiik..! Hrili.sh -Vorth .America. Mr. !!LAKK. No; he sai.I th.-re^ere .several others .loing business in the I'nite.l .Stat.s to w'uch his remarks wouhi ap)>ly. incnd.. 1 to t,hi. ci- the OIT.WVA: •riiileil hy Brown ("mMPii-iM.iN. IVIhIit r. till' giiceii'