CANADIAN NOTE ISSUE
PROPOSED INCREASE BILL BEFORE HOUSE Press Association—By Telegraph—Copyright. . OTTAWA, June 20. . 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 silver- 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. Fortv million dollars will be spent on Public Works under the programme laid before the House on Tuesday,
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Evening Star, Issue 21752, 21 June 1934, Page 9
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129CANADIAN NOTE ISSUE Evening Star, Issue 21752, 21 June 1934, Page 9
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