Hon. ARTHUR MEIGHEN (Solicitor General) moved for leave to introduce Bill No. 194, respecting Co-operative Credit Societies. He said:
No lengthy explanation will be necessary as the same Bill, with the exception of a few amendments, was introduced by myself last session. Furthermore, last session I had the honour of addressing the House upon the question at large. My remarks upon that occasion will apply to the present Bill, and I will explain it more fully on the second reading. This Bill provides for uniform machinery throughout the Dominion enabling the formation of cooperative credit societies. I do not need to describe the character of the societies for which co-operative credit is provided. They are societies, the principle of which ia mutual loanings among its members of funds for the purpose of their commercial advantage. Certain restrictions are placed upon each society, and the general precautions provided under the previous Bill are embodied here. I may add that the Bill does not differ in any essential particular from that passed by this House, after a very thorough review in Committee, in 1907.