If the hon. member is correct in saying that there is an apparent cost of $981 million incurred by the foreign exchange control board, how much is the active asset carried against that cost? When we revalued the currency we lost the premium of ten per cent which we had paid out to acquire some of those assets. What was the profit when the foreign exchange control board took over all the gold holdings of the banks of Canada, and perhaps any private holdings as well? I think the take-over price was at the old rate of $20 an ounce, and then it was revalued upward. The board would have a fortuitous profit there at the expense of the banks and the holders of gold in Canada. Will the minister tell us what the active asset is against this $981 million exchange, and how much profit was made by the board when gold was taken over?
Topic: FOREIGN EXCHANGE CONTROL ACT
Subtopic: CONTINUANCE IN FORCE UNTIL SIXTY DAYS AFTER OPENING OF FIRST SESSION OF PARLIAMENT IN 1951