DOMINION PROBLEMS.

Manawatu Standard, Volume LIII, Issue 285, 30 October 1933, Page 6

DOMINION PROBLEMS.

CANADA AND NEAV ZEALAND. Per Press Association. AUCKLAND, Oct. 28. On his way back'froir two unofficial conferences in Canada, Hon. AV. Downie Stewart arrived from Arancouver by the Aorangi, accompanied by his sister, Miss Stewart, Mr AValter Nash, M.P., and Mr H. F. von Haast, fellow delegates to the conference of the Institute of Pacific Relations at Banff, Alberta. Mr Stewart said the Banff conference and that of the Royal Institute of International Affairs, held at Toronto, were extremly interesting, but he would not comment on the discussions. “Canadian problems are strikingly like those of New Zealand, only on a larger scale,” Mr Stewart said. Referring to the proposed central bank in Canada, he said that all the Western Provinces were strongly in favour of a central bank, but there was a marked difference of opinion in some of the Eastern Provinces. It was generally believed that the McMillan Commission would recommend the establishment of some form of central bank, although most of the commercial banks were using every argument against the necessity for such a bank in Canada.

The general financial position of Canada reflected the present depression, and the last three years had shown large and growing budgetary deficits in spite of enormous increases in income tax, sales tax and other sources of revenue. However, recent speeches by Cabinet Ministers were couched in hopeful terms, and Mr R. B. Bennett, the Prime Minister, and others had expressed the opinion that the worst of the depression was over. Strong pressure was being brought to bear on the Government by the Labour Party to introduce the N.R.A. S3 r stem into Canada and the demand was growing steadily more insistent when he left. Mr Bennett, however, emphatically stated that the S3’stem would not work successfully in Canada. Mr Stewart leaves for AVellington. to-morrow night.