UNFOUNDED REPORTS
Canadian Corporations NO NEED FOR PROTECTION (Rec. May 26, 8.25 p.m.) Ottawa, May 25. Unfounded rumours iu London and New York financial centres to-day that action was necessary to protect Canadian financial, Insurance and railway corporations were branded by the Premier, Mr. R. B. Bennett, as “all nonsense” nnd, characterised by the Minister of Finance, Mr. E. N. Rhodes, as “moonshine.”'
A garbled interpretation of . statements recently made in the House of Commons on the possibility of the Government seeking emergency powers to deal with any extraordinary situation that might arise in the American continent is believed to be responsible for to-day’s unfounded reports. It became known to-night that the Government had decided that ft was unnecessary to bring in a Bill to give it such power.
A message published on Saturday stated that, the Canadian Parliament might be asked to pass a Bill authorising the Government to take necessary steps to meet a financial crisis, should one develop in America. The Premier indicated that the Canadian Government was considering such a measure. It would be provided that any such legislation would come into effect only upon proclamation.
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Bibliographic details
Dominion, Volume 25, Issue 206, 27 May 1932, Page 11
Word Count
190UNFOUNDED REPORTS Dominion, Volume 25, Issue 206, 27 May 1932, Page 11
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