April 13, 1933 (17th Parliament, 4th Session)

CON

Henry Herbert Stevens (Minister of Trade and Commerce)

Conservative (1867-1942)

Mr. STEVENS:

The hon. member is not quite correct in his interpretation of that last order in council. It will be understood very readily by all western members and, I think, by most members, that in the operation of the wheat pool system, the pool at the commencement of the season makes an estimate, which is usually supposed to be verj' conservative, of what wheat will bring throughout the season. Then for its initial payment, it fixes a price with a safe margin below that estimate. During all the years of the operation of the pool, with the exception of one or two in these very recent years of distress, the market upheld the expectation. The consequence was that the intial payment was invariably followed by one, two and, I think in some cases, three subsequent distributions. The final distribution would not occur until the pool had disposed of that particular crop year's purchases. In the instance my hon. friend has mentioned, the pool fixed a price of thirty-five cents.

Topic:   TRADE AND COMMERCE
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