February 10, 1928 (16th Parliament, 2nd Session)


Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)


It was asserted, rightly
or wrongly, that to have more than one office in a province complicated the situation very greatly with respect to registration and deregistration of the very bonds that were mentioned and that, therefore, there should be only one in each province. In the province of Quebec, where very large business is transacted, it was suggested that there should be a transfer office at the city of Quebec as well as at the city of Montreal, and I recall all these discussions that took place. The banks, of course, would like to have one at every second door, but that is no reason why they should have one for their convenience and why this Dominion should go to the expense of establishing a second receiver general's office in any one province. If my hon. friend will pardon me I will take him through a transaction of this kind. The banks have a certain amount of legal tender which they carry and there are certain provisions with respect to the redemption of notes, but very few redemptions take place in outlying sections. All the banks do is to go to the receivers general's office when they require legal tender and they get it in bills of $500, $1,000, $10,000, $1 or $2; but, generally speaking, the banks carry them in their own treasury. Desirous as I am of assisting business, I cannot see how we are going to do that by going to the expense of establishing another receiver general's office. I think I know exactly why this is being done. It is for the purpose of giving a little

Electricity Inspection Act
more convenience for some people who are affected and not for the business community at all. As surely as you put it on the statute books, the next week you will be called upon to implement your promise and then you will have to have another building, a deputy of the receiver general and another staff; you will have to put your silver and gold in that office and you will then have two offices that will serve no greater purpose than one. If the minister will go down to the receiver general's office in the city of Montreal he will see exactly what I mean. I have no doubt he has followed these transactions himself from day to day. They are very simple.

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