Mr. Horner (Acadia):
I am reading from the Canada year book for 1960, page 985, which covers the year 1957, the year in which this government took office. Surely he does not expect that the rise in the cost of living index would be halted immediately on the government taking office. It may have been 121 but I should like him to notice that in 1958 it was 125, and on going down to July 1960 we find it is 127.5, a rise of 2.5 points. Surely that is a proper comparison and has a far better relation to the situation than the figure he used in assuming that this government
Government Monetary Policy should have been responsible for everything that happened in 1957 and should have rectified things immediately.
The hon. member for Welland (Mr. McMillan) went on to speak about what was happening. He said that the government should know everything that is going on in the Bank of Canada. From the way in which the governor of the Bank of Canada has been speaking about the Bank of Canada, nearly everyone knows what is going on there. He has been going across the country doing a great deal of talking, something that I think he should not do. He is a person in a responsible position and rather than try to paint a gloomy picture of the economy of Canada or of the finances of Canada-
Subtopic: GOVERNMENT MONETARY
Sub-subtopic: POLICY AND DEBT MANAGEMENT