Mr. FIELDING.

I am going to make an amendment to that section to which I wish to call the attention of the committee. It will be observed that our silver coins comprise a fifty cent piece, twenty-five cents, ten cents, five cents, and there is a bronze coin of one cent. I propose to insert the provision to authorize us to make a silver dollar. Hitherto, I have not viewed it with much favour and have not thought it necessary, but representations have been made to me, chiefly by hon. gentlemen from British Columbia on, both sides of the House, that a silver dollar is desirable. In eastern Canada where we have the dollar note-and I am glad to say that we have it in a more cleanly condition than it was in former times-the dollar note is very satisfactory. It is a curious fact that on the Pacific coast-I suppose it is because metal is so much in evidence out there-they do like to handle the coin. I know that I have attempted to get small notes on the Pacific coast and could not get them. If our British Columbia friends want the silver dollar we think that they had better have a Canadian silver dol-far than an American. There is some difference of opinion as to the need of it, but, at all events, I propose to take authority to coin the silver dollar.

Mr. DANIEL.

That would be a very large coin would it not?

Mr. FIELDING.

Yes, it corresponds with the American dollar. I think it is rather an inconvenient coin, but people in the east and the west have different ideas, and I am doing this at the instance of two or three hon. gentlemen from British Columbia on both sides of the House.

Mr. HENDERSON.

What would be the weight of a Canadian dollar as compared with the American dollar? I think that our dollar perhaps would contain more silver and less alloy, and consequently would not be so cumbersome as the American dollar, which, has not as much pure silver in it. What would be the difference in weight?

Mr- YIELDING. I think my hon. friend (Mr. Henderson) is mistaken, and in any case the difference would be so trifling that it would have no effect in business usage. As a matter of fact the American silver dollar is worth a little more intrinsically than our silver dollar will be as our silver coinage is not based upon its silver value. It is only token money anyway and the weight or fineness of the coin is not a matter of any importance. When we come to gold coin, of course, the object is to make the coin equal to the bullion, but, in the case of silver, it is only a token and one grain more or less is of no consequence.

Mr. HENDERSON.

As a matter of sentiment it is of a good deal of consequence.

I think we have an opinion in Canada that our silver coin contains more actual silver than the American. I am rather surprised to hear that the reverse is the case. With regard to coining a Canadian dollar, I am going to raise no objection to it whatever, although I do think that paper money is

more convenient. It is a matter of choice whether a man pays or receives a silver [DOT] dollar or a dollar in paper money. This will simply give permission to the different provinces to use the kind of money they want. I have no particular objection to it but I would rather have paper money myself.

Mr. BURRELL.

I would like to ask the minister if he has any information as to what amount thev are now issuing silver dollars in the United States or whether they are coining very many of them. W e got a great many of them a few years ago.

Mr. FIELDING.

I am told that while they are still coining them they are not so generally used as formerly. I find that the silver dollar is the dollar most largely in use on the Pacific coast. I found it so myself when I was there. I remember on one occasion on the United States Pacific coast trying to get paper money; I found that I could not get small notes but they had plenty of silver dollars. That is the tendency of the Pacific coast in ttm United States and it extends to the British Columbia section.

Mr. HENDERSON.

A sort of Chinese money.

Mr. FIELDING.

No, it is not Chinese money.

Mr. GOODEYE.

As representing the associated boards of trade of British Columbia I may say that I waited on the hon. Minister of Finance (Mr. Fielding) and urged upon him the coinage of this silver dollar I did so at the instance of the associated board of trade, comprising thirteen boards of trade in southern British Columbia. The reason they have asked for it is because of the use of a very large number of American dollars all through the west, particularly in British Columbia, and along the border, and they have thought that if we had a Canadian silver dollar it would probably, to a very large extent, do away with the American dollar. The minister gave me the same explanation as that which he has made to the House, that personally he felt it was not a desirable coin owing to its weight, but if there was a real demand on the part of the western provinces he would be pleased to meet that demand. We felt that it would be an advantage in that way. The Americans there are accustomed to it, and some prefer it to the bill, although I agree myself personally with the attitude taken by the minister. We are accustomed to the Canadian dollar bill, and find it perhaps the more convenient, but there is no question that there is a very large circulation of American coinage through a very large part of the Kootenay country; how much

it is difficult, without accurate statistics to say, but a very large part of the change below five dollars is made in these silver dollars. A merchant will have in his till a greater proportion of American silver dollars than any other coin. Therefore, we felt that the introduction of this coin would be an advantage. Further, as the minister truly stated, there will be a certain profit in coining this money that will accrue to the government, the intrinsic value not being equal to a dollar in value. It would be desirable to have a limited quantity of that coin.

Mr. BLAIN.

I would like to ask the Finance Minister what amount has been paid to the banks for collecting American silver and_exporting it to the United States.

Mr. FIELDING.

I gave that the other day. I have not the figures at hand.

Mr. BLAIN.

I will find it in ' Hansard '. May I ask the minister if any effort has been made by the government to collect defaced silver, there being a considerable amount in circulation in Canada at the present time? It is very troublesome, lhe government are making an effort to collect American silver, and have it sent back to the United States, and I think a similar effort should be made to collect defaced silver which gives every person who has any-, thing to do with it a great deal of trouble. As I understand, when a government bill becomes torn, or defaced it may be taken to the Receiver General's, or the deputy Receiver General's office, and a new dollar bill will be given in exchange. Why could not some arrangement of that kind be made so that the people of Canada would not be troubled by the continued circulation of coins that become more defaced every time they are changed. One other point. United States bills circulate freely in Canada, and are accepted by all classes of people at par, especially corporations and banks. But when our Canadian people go to the United States, they find considerable trouble in getting Canadian $1 bills exchanged, even in the frontier towns. If they go into the interior, it is next to impossible to get the Americans to accept our $1 bills at all. Why could not thi3 government enter into correspondence with the Finance Department at Washington and endeavour to have some better understanding, and obtain some slight endorsa-tion of the Washington government, so that when Canadians go into the inner parts of the United States with Canadian money they would be able to have that money accepted by the American people at its face value, and teach them that if we are free to accept their money they should accept ours.

Mr. FIELDING.

I quite understand the ground which my hon. friend has taken,

Mr. HENDERSON.

but I am afraid the matter is something we cannot deal with by legislation. If we do not want American bills in Canada, we need not take them. If we take them, it is because it suits our convenience to do so.

I noticed quite recently that one of the large American cities, the city of Portland, Oregon, by arrangement with the banks and clearing houses, has decided to accept Canadian currency generally at its face value. I would hope that its example may be followed by other cities. It is hardly correct to state that our notes will not be taken anywhere in the States. At any of the large business establishments, where they are accustomed to- deal with Canadians, they will take our Canadian currency at its face value.

Mr. BLAIN.

I think that is confined to cities along the border.

Mr. FIELDING.

No, I know that in some instances in Boston and New York, the larger establishments will take our Canadian money at par. In one instance I remember-and this illustrates what is done in a large way-tendering a Canadian bank note at an American railway office and being informed that they could not take it, although it was a note of one of our largest banks. When I entered into conversation with the ticket agent, he told me that they had instructions to accept Canadian government currency, but as regards the banks, he said: We know nothing about them. That occurred not far from our boundary.

Mr. BLAIN.

Were these instructions from the government?

Mr. FIELDING.

No, from the railway company. In many places in the United States they do accept our currency; but I should hope that when we have our gold currency, when there is no question possible as to its intrinsic value, some such arrangement as my hon. friend suggests might be carried Out. As respects silver, I do not think it possible to bring about what my hon. friend desires except by the voluntary action of the banks, the boards of trade and other commercial associations. With respect to worn or defaced silver, I am not quite sure to which my hon. friend referred, but perhaps he referred to both.

Mr. BLAIN.

Yes, I had in mind more particularly Canadian silver because in the main American silver is in good condition.