In this debate, the question concerning the mutuals seems to be confined to the New England Mutuals. I do not oppose the tax on New England Mutuals, but I would like to say that a very small percentage of the mutual business in Canada is done in these companies. As I understand it, as a member of the Banking and Commerce Committee, this tax was not placed here by the committee until it had been recommended to them from the Manufacturers' Association. We know that our friends the manufacturers are always in favour of a policy of protection. I want to point out to the committee that outside of the cotton mills, the woollen mills and the sawmills, there is a very large mutual insurance done in Canada by a commerce that cannot afford much of an increase, that is the grain business-the flour mill business. In the western part of our country we have possibly $30,000,000 of insurance on the elevators held by mutual insurance companies Mr. LALOR.
of the United States. The National Mutual Insurance Company of Chicago carries a grain business of over $46,000,000, the Ohio Mutual has over $13,000,000, the Michigan Mutual, the Mill Owners' Mutual, the Indiana Mutual, the Western Millers' Mutual and others are all doing business in Canada. The bulk of the Canadian grain is sold at a profit of about one-quarter cent per bushel. On this basis and on the basis of the value of the wheat to-day, the nr^nosed tax would cut out about one-eighth of that profit. I submit to the minister and the committee that we must go very carefully in increasing the expense of handling this business, because it is a business that cannot stand much of an increase. I am disposed to favour the idea submitted by the hon. member for North Simcoe.
Topic: JAMBS P. MURRAY,