Hon. Douglas Abbott (Minister of Finance):

Yesterday the hon. member for Winnipeg North Centre (Mr. Knowles) directed a question to me concerning the activities of small loan companies. Specifically, he asked whether the government was permitting these small loan companies to expand their facilities and operations despite the government's policy of restricting credit generally.

In answer to my hon. friend I may say that the small loan companies are subject to the same restrictions as everybody else under the consumer credit regulations and the voluntary program of bank credit restraint which the chartered banks have put into effect. To the extent, however, that, in order to expand their operations, such companies have raised additional capital by means of stock issues or the sale of debentures to the general public, thus drawing on the real savings of the public, they are not subject to any restrictions any more than other individual corporation or business enterprise is. It is the inflationary expansion of credit which government policies are designed to check.

Mr. David A. Croll (Spadina):

Mr. Speaker, I have a question for the Minister of Finance. Will he say what steps the government is taking at the present time to implement the five-day week for bank employees?

Hon. Douglas Abbott (Minister of Finance):

I thank my hon. friend for giving me notice that he intended to ask me this question. In reply, may I say that some time ago the Canadian Bankers' Association made representations to me that the Bills of Exchange Act should be amended in order to enable the banks to operate a five-day week by closing on Saturday in cases where it would seem to them to be desirable to do so, and particularly in those areas where the five-day week had become fairly general for office employees. They represented that it was

becoming exceedingly difficult for them to obtain efficient employees in competition with other employers who were offering employment on the basis I have indicated. The representations are being sympathetically considered by the government, and I expect that we shall be able to make an announcement as to the decision at an early date.

Mr. Speaker, I desire to direct a question to the Minister of Public Works. Is it the intention of the government to begin immediately the dismantling of the old buildings on the dominion building site at Charlottetown?

Hon. Alphonse Fournier (Minister of Public Works):

Mr. Speaker, I intended to consult the hon. gentleman before acting in Charlottetown. After this meeting, we will meet and discuss the whole situation.

Mr. McLure:

Thank you.

Mr. H. W. Herridge (Kootenay West):

Mr. Speaker, I rise to speak in support of the subamendment moved by our leader, the hon. member for Rosetown-Biggar (Mr. Coldwell), and to make a few other observations in connection with the speech from the throne. The subamendment as moved by the hon. member for Rosetown-Biggar reads as follows:

That the amendment be amended by adding thereto, Immediately after the words "high cost of living," the following words:

such as the making of provision for price controls and the payment of subsidies, where necessary, so as to equalize the sacrifices our people are called upon to make at this time.

I think the subamendment gives some point to the amendment which, in our opinion, is moved in very general terms, and I

The Address-Mr. Herridge shall possibly have something more to say about that matter later. Without a doubt the speech from the throne mentions several matters of considerable importance to the great majority of the Canadian people. We in this group welcome the decision to deal with the old age pension legislation, but we shall have to leave our comments on that matter until we see what the government presents to the house. It is also interesting to note that after many years of discussion pro and con the government has now brought forward proposals with respect to the St. Lawrence seaway. I am a westerner and am not very well acquainted with all aspects of this question but I am sure that when those proposals are before the house they will engender some lengthy and most interesting debates because, on making inquiries from people from various parts of Canada, I find that there are a number of points of view on this important question.

The government's intention to proceed with the Canso causeway must be a great cause of satisfaction to the maritime members. I have listened with a great deal of interest throughout the years to the hon. member for Cape Breton South (Mr. Gillis) advocating the need for that causeway. I know that when the hon. member for Cape Breton South speaks, he does so because he knows what the people in the maritimes want. I wish to congratulate him on the success of his efforts throughout the years. I am also pleased to see that the government is taking some action in connection with the railroad problem in Canada by proposing a subsidy for the rail links between the east and the west. I think that is the first step, and a necessary one, but I also think it is a limited approach to the whole transportation problem in Canada. I shall not say anything further on that question at this time because there will no doubt be plenty of opportunity for us to express our opinions and the opinions of our constituents in that respect.

I am sure that the legislation proposed as a result of the Massey report will be welcomed by the great majority of Canadians and by many members of all parties in this house. I might say that my experience, from meeting a number of constituents during the recess, leads me to believe that this report is exceptional in one respect in particular, in that it is a government report that has been read by a wide section of the Canadian people. I have been surprised at the number of people who have been interested in reading this report; they range all the way from high school pupils to elderly people. I think this report has crystallized or, shall I say, focused the attention of Canadians on cultural matters that have been largely overlooked in the past.

I am sure that when that legislation comes before the house it will provoke interesting discussions. Before proceeding further, Mr. Speaker, I may say that I am highly pleased to see that I am honoured as usual by the rapt attention of the coalition member for Comox-Alberni (Mr. Gibson).

Mr. Knowles:

Coalition or Tory?

Mr. Herridge:

In that respect I might say that my leader, the other day, referred to the hon. member for Comox-Alberni as a Tory. That was quite correct because, you understand, in order to perform his function properly, he has to be a Tory one day, a Liberal on the next, and then in his more illuminated moments he is C.C.F. That is the reason why we call him the coalition member for Comox-Alberni.