June 17, 1935 (17th Parliament, 6th Session)

UFA

George Gibson Coote

United Farmers of Alberta

Mr. COOTE:

In Montreal it is given at $3.94 on June 15 and the British pound is given as $4.93. If we were on the same basis as Australia, so far as the value of the pound is concerned, it would give to agriculture that increase in prices which is so badly needed. I do not think there is anything which would do as much to bring back prosperity in Canada as the increase which could be secured in the price level for agriculture by a deliberate depreciation of our currency. I do not need /Mr Coote.]
to go into the method by which this can be done as I think the house, and particularly the Prime Minister, is well aware of what should be done. I approve of having the administration of this fund in the hands of a minister rather than under the control of the central bank, but I should like to urge the government seriously to consider a policy of depreciating our currency to the value of Australian currency.

Topic:   EXCHANGE FUND
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