George Gibson COOTE

COOTE, George Gibson

Personal Data

Party
United Farmers of Alberta
Constituency
Macleod (Alberta)
Birth Date
August 18, 1880
Deceased Date
November 24, 1959
Website
http://en.wikipedia.org/wiki/George_Gibson_Coote
PARLINFO
http://www.parl.gc.ca/parlinfo/Files/Parliamentarian.aspx?Item=717ab1d6-e8dc-480c-aba9-4552f242369a&Language=E&Section=ALL
Profession
accountant, bank manager, farmer

Parliamentary Career

December 6, 1921 - September 5, 1925
PRO
  Macleod (Alberta)
October 29, 1925 - July 2, 1926
PRO
  Macleod (Alberta)
September 14, 1926 - May 30, 1930
UFA
  Macleod (Alberta)
July 28, 1930 - August 14, 1935
UFA
  Macleod (Alberta)

Most Recent Speeches (Page 4 of 662)


June 17, 1935

Mr. COOTE:

With reference to the remark of the Prime Minister, that suggestions were made from this corner that the Canadian currency should be tied to the pound, I may say that in any statement I ever made in the House of Commons I was careful not to use those words. As a matter of fact, a friend of mine who lives in the metropolis of Canada urged me to advocate that very thing, to make the pound legal tender at S4.87. I stated to him at that time that that was much too low a level because this country must have a pound worth more than that unless a change took place in the pound sterling itself. When the imperial conference agreement was under discussion I used on that occasion this language: I said that our currency should be brought to such a level as would make the pound worth $4.87 here. That would have been a distinct advantage to us at that time. I have not the exact words I used but that is as I remember. I am sure I never used the expression "tying our currency to the pound."

There is one other point which the Prime Minister made to which I would refer, and that is the payment of foreign debt. The Prime Minister will agree that so far as actually paying off any of this debt is concerned, we can pay only by the export of goods, commodities and services-and in commodities I include gold. Of course, it may be easier for us to renew these obligations if we keep our currency at a certain level, at par with the United States.

Topic:   EXCHANGE FUND
Full View Permalink

June 17, 1935

Mr. COOTE:

In Montreal it is given at $3.94 on June 15 and the British pound is given as $4.93. If we were on the same basis as Australia, so far as the value of the pound is concerned, it would give to agriculture that increase in prices which is so badly needed. I do not think there is anything which would do as much to bring back prosperity in Canada as the increase which could be secured in the price level for agriculture by a deliberate depreciation of our currency. I do not need /Mr Coote.]

to go into the method by which this can be done as I think the house, and particularly the Prime Minister, is well aware of what should be done. I approve of having the administration of this fund in the hands of a minister rather than under the control of the central bank, but I should like to urge the government seriously to consider a policy of depreciating our currency to the value of Australian currency.

Topic:   EXCHANGE FUND
Full View Permalink

June 17, 1935

Mr. COOTE:

I notice, however, that

Australia was able to pay all her foreign obligations. I remember seeing a statement not long ago to the effect that in every case the Australian government's foreign obligations had been met in the terms in which they were expressed, and Australia has been able to borrow money in Britain at as good a rate as Canada. It is a fair subject for debate, but in my humble opinion Australia has followed the course that made it easier for her primary producers to carry on and meet their obligations than it has been for their Canadian competitors. I ' believe that Canada depends on the agricultural industry more than on anything else, and the financial policy which keeps our price level at a lower level than most of our competitors does make it very difficult for us to carry on.

Exchange Fund

Our price level has been pitifully low compared to what it was when our producers contracted their obligations. The prices of our products have fallen lower than the prices of the things we buy. I do not know of any other industry that has taken the same fall in the price level as agriculture has, and the thing for us to have done was to follow the method of our competitors, the Argentine, New Zealand, Australia and Denmark. They felt that they were forced to take this step, and I think we should be well advised to consider doing it even at this late date.

Topic:   EXCHANGE FUND
Full View Permalink

June 17, 1935

Mr. OOOTE:

Will this commission have power to set standards for motor oils and gasoline, for instance? It seems to me that would be a fine place to start if they have such powers. At the present time we are paying exorbitant prices at most service stations and garages for motor oils. We may pay the highest price that is asked for any oil and still have no way of knowing whether we are getting a high class oil. I would like to know what is contemplated as being possible for the commission to provide for us under section 15.

Topic:   TRADE AND INDUSTRY COMMISSION
Subtopic:   ADMINISTRATIVE, ADVISORY AND INVESTIGATORY FUNCTIONS-PROVISION FOR A DIRECTOR OF PUBLIC PROSECUTIONS
Full View Permalink

June 17, 1935

Mr. COOTE:

Is the Prime Minister referring to government obligations or the total obligations of Canadians?

Topic:   EXCHANGE FUND
Full View Permalink