April 13, 1928 (16th Parliament, 2nd Session)

LIB

James Alexander Robb (Minister of Finance and Receiver General)

Liberal

Mr. ROBB:

As a matter of fact, under the Finance Act I think the rate was reduced to 3j per cent, but the banks have not availed themselves of that privilege to any great extent. Of course my hon. friend will understand that to keep the finances of the country sound that sort of thing cannot go on indefinitely, although I admit that it can be done to a limited degree.

Topic:   LOAN OF $500,000,000 REDEMPTION OF LOANS AND PURCHASE OF UNMATURED SECURITIES
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