CANADIAN NOTE ISSUE
, . BILL FOR INCREASE FIRST READING CARRIED. OTTAWA, June 20. (Received Juno 21, at 1 a.m.) A Bill which authorises the Government to increase the total Note issue, for which a gold coverage of 25 per cent, is required, from the present statutory amount of 50,000,000 dollars to 120,000,000 dollars received its first reading in the House of Commons on Tuesday. The Bill also authorises the Minister of Finance to purchase 1,671,802 ounces of silver as agreed upon last year. Next year the eilver purchases will be made by the Bank of Canada. Mr Bennett indicated that the increased Note issue would be utilised as a means of financing the Public Works programme. Forty million dollars will be spent on Public Works under the programme laid before the House on Tuesday.
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Otago Daily Times, Issue 22294, 21 June 1934, Page 7
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133CANADIAN NOTE ISSUE Otago Daily Times, Issue 22294, 21 June 1934, Page 7
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