August 11, 1917 (12th Parliament, 7th Session)


Frank Broadstreet Carvell



No, there are more banks. But this bank has control of practically all the lumber business, and that is the principal business of the community. I am speaking now with an absolute personal knowledge of what is going on. An estate which I have practically closed up, which I have been helping to manage for years- which, I am sorry to say, was not very flush financially-has paid insurance to make your head ache, if you had to help finance it, simply because we were in the hands of the bank, and the banker placed the insurance without asking our leave or anything else. We had not a word to say-we had to pay the premiums; he did not ask us to pay them, but simply took them out of our account. I brought the matter up and got an amendment made to the Act, by the Banking and Commerce Committee, and it came down to this House as part of the Bill, when it left the committee, but sufficient influence was brought to bear on the House to defeat it, I think, on the third reading.

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