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House of Commons Bebsites 
 
 FOURTH SESSION-SIXTH PARLIAMENT." 
 
 SPEECHES OF HON. EDWARD BLAKE, M.P., 
 
 ON 
 
 THE BALLOT COMMITTEE, &c. 
 
 THURSDAY, 20tii MARCH, 1890. 
 
 Mr. TJLAKK. I (.....f.^^s I entitrlv shared tl>e 
 Xuis.r. '''"• f ••''•'»:'. '-i'l-- (Mr. Laurie 
 |.t op ,e 1. it i,s all very well to .say that we are all 
 equa ly u.tere.te.l, an.l all want t<, Je f ,: ■ Ity 1 
 
 on.; inng,,„ealway.sl,ast.,e,,nsi,leral.,,.,t<^„L e 
 .=- th. character „f the man wh„ w<,rks t ami 
 
 "■l'"n y.n, (in.l that the (iovernnu.nt of he eount v 
 
 m« taken mto it« han.l.s the ap,.ointn,ent o the 
 
 e n,ng oftoer,, who in turn appoint the ,lep„ v 
 
 'turning ofhccrs. tlie poll clerks and all theot eV 
 
 ;"l;''^;- who arc to have the control ^d le 
 
 i''" '11"'« '.t an election, then it is e.xtre.nely , 
 
 V''n:ua tiiat the n.achinery placed in thei i ands 
 
 ,.,/;,. ..'"'•'■ *■',''■" f'"''i'ities for frau.l .still 
 
 svsteni. r , „ not now recollect all the defeet.s that ' 
 werepo.mcdout to n.e after the holding of he 
 ; election un, er the present system, !,nt one I 
 
 . , and llnnsy t,xtnre that ,t was nnpossihlcn, - 
 H.uk then with the implements provide 1 for tVit 
 "■'•pose without ren.h.ring i, p.ijhi, mile ma 
 -.jonyo cases- ami we kn.lw that in he ^ e 
 ma,|n,,ty of ea.se.s a toleral.ly heavy hand is u^cd 
 o |,e,vo,ve rom the outside of the 1. 1 , ^ p,u .7 
 
 W s V • '."-"■!^^^" ^•'"' tlK^ view that, so! 
 
 the hit"" """""'" ""-' ''"""^ -^-V^t""- it i« ■ 
 sho I 1 ; , '""^'''l.''^""'. "ot ntetelv that you 
 should uue .seeunty for secrecy, hut that the 
 ,.f the voters should he p..rsua,led that: 
 
 actor a.s to he m danger of being put to the use.s to 
 which I have referre.l. The hon. gentleman is 
 , prohahly aware that, a few days ago, an im'est U 
 tion was held in the .State of \cw York with reftr 
 enee to the election of a senatorbya machine n.ethod 
 ,t! iVf"''' '""T''' t" "'"k "Oil, but which lent 
 j *?' '• /" '".""t atrr,..,ous and wide.sj.read frauds 
 ! Ihereore It occurred to „,e tlml 1h3 .u.^est .n 
 made by the hon. gentleman, that this wa.^a mat 
 ter peculiar t,. the House itself, in which the 
 (.mernment d,d not wish to interfere- a suggestion 
 which he sought to enforce by a committee com 
 pose.l of eight ministerial members and tM„ Ui.po- 
 s.t.on members, ^yith reference to machinery which 
 was to b.. operated enlircdy ),y the hon. gentleman's 
 ti^ends -was a little "too thin." Thc4 was no ' 
 
 n i ; . I •■ H ''"''-''7' ;\'""'* "''^'- "■•'"tever there 
 might be m the new ballot. [ am gla.l to know 
 
 teol that the ( onmmtee cannot assume nuite that 
 
 to this side of the House, considering that the 
 c haraeter of the operators gives us .,f the ( )pposition 
 tne greatest interest in the eharac-ter of'hc ma- 
 chinery to be a.iopted. 
 
 THE BANKIXf; HILL. 
 
 mass 
 
 tic hallo iLsed IS secret: beeau.se lothnu' is more 
 ",'"".. than to inform the voter that h s vot ec n 
 
 Ia[i Hc^^^^^ • '^"^""' i"'"'"'>''l- Th,.ref.,r.. 
 
 all^, c „ "'•'■•">«.■'-:-..* un.ler which, lirst of 
 
 , ; t^u d .secrecy should be .secure,!, and, .. vondly 
 ust,.n„al,|y l,y tiie mass of the voters and recoc/ 
 
 oareth ■ i'l '' '""''• "'^ "'""^ ^ake v<.rv great 
 
 -uethai.,„.-,maciuncryisnotof,suchapliabiechar 
 
 Mv. HL.UvK. I w,ml,l .suggest to the hon 
 gontlcmian that it wouhl be c„nt4.ien f .\c , dd 
 provide ns with a table, in plain and sii , ie . , 
 ■showing the.letails of the' calculations \'.; 
 t>e gave -what was very satisfactory in oneway 
 . - lie general result, but the .letails\,f Xcl le 
 ..1 not give. 1 rc.fer to the relation of t ' ., . 
 assets to the gro.ss liabilities of the banks ^ s 
 <|Ute cear that that teaches us nothiiS on 
 Might as well say that you eouhl .hvide as to 
 the. solvency of an individual by putting own ^u 
 one .side the assets and on the other the^i d 1 ities 
 of all the members of his community, and .s\rik ,' 
 I general balance. V„u would find'that, a th muh 
 
 le ills U c J i' '*'''i V"'" ^■""' ^""'""' >"to the 
 'I'-tail.s thcie Mould be deheits in the ea.se of some 
 
 m 
 
for tli(! inoiiicut or fur a biicf s))u>'t\ to tliu 
 iimoiiut of .s-_V)(»,(MMI iiisU'iul i)f ?1-'(K»,()(H), that 
 (locH not aiiiipiirit lo very iiiucli, nor i« it in the 
 
 mill hirgy lunounts to the en-iHt of otlicr.i. For 
 
 my own [nut, I iiiu inuvh more ilinjioseil to pliire 
 
 rtliaiiic on ihat to wliich tht; hon. j,'<>"tl''"'iiii 
 
 aUn.led in thiH regani, as tile aotnal expeiien.^e of matter of the aelnaiity of (he payment extremely 
 
 jxmks wiiieh liave eoiie under, ati-l which, ft<|)euk-. , .sntisfaetoiy. Vou eiinnot provide that witiumt 
 
 nij.:yeiu rally, J think, ipute juHtitieil his oliser- impo,M'n>( u l.airier, whieli, J .1.) not sup 
 
 \ution.s. I do • ' - ..... 
 
 refeiciiue to tl 
 
 think, 
 it pro_ 
 details 
 
 pute ju.stitied m.^ <,fi.-,v,- iiii|io.-Mni; u piairier, wnien, j no not .suppo.se, yoil 
 do not propo.Ke to suy ii word with ; intend to impo.se. Vou eannot ])rovi<le it ' 
 . f '!'•■■ I"l'^'> for the re- i retaininj,' for any long time the .<•_'.'>(),(« Ml, 
 
 «lemi)lion c.t tiie notes, tor the lion, jjentleinim lia.s : that i.s wh.it tlie hank i.s Iniilt upon, and 
 iu;t entered into details, and there are .some iine.s- ! hand it Imek. It i» evid 
 tions of detail whieh are rather imihirtaiit, hut ! that the sys^tein whieh lia.s i;one on will not, 
 
 leeaiise 
 
 you miLst 
 
 e.xpeiieliee, 
 
 all 
 
 whicli, m tlie ah.senee ot detiulH, it would be en- I any su.h anaimemeiit a.s tiiat, he .stopped, thou 
 tirely preiimture lo di.-.m.s.s. Nor ,h) I intend to j to some extent its operations may he re.straiiie.l-- 
 enter into t he (pioHti.m of the working' of the gmiran- j the «y.steni, namely, (,f a hank, aliiio.st imme.liately 
 
 - ' -1 1. ''oriiiatioii, discounting tlie imper of its 
 
 tee system, lit'enuse that also re(piiie.s very careful 
 consideration as to details, and as to the exact 
 lialiihty which it vvoulil impose on the mass of 
 the hanks and as to tile ariaiigenu'lit in case of a 
 call. As t) the audit .system, I must say that 1 
 cviiotir in every wonl the lion, nienilier for South 
 Oxford has uttered. I agree that if our prestuit 
 system iif auditing is in any lesjiect defective in 
 theory, if it does not provi.l'e an adetpuite legisla- i similler liaiiks, 
 tive rec, Ignition of the duty of the shareholders or ' the 
 the aullioritics to secure a'proper audit, we ought the 
 to make .such a. legislative recognition. But with 
 reference to most institulious wliicli are engaged in 
 eiiormoiistransaotioiisin the lendiiigofiiioiie\% espe- 
 cially to tliose lending money on per.souid seciii'ity. 
 
 1 hoM tiiat it is/ilisohitcly iiiipossil'ile forany iiuditor 
 to make an ,nidit which will indic:ite the feal])osi 
 tioii of tlic hank. \A'e know in our own experieinte 
 that it is ipiite iin|iossilile. We in this House lipve 
 had the most signal iiist.i.nces lironght liefore us of 
 hanks w liidi displayed the most (lourishing state- 
 inents, duly audited, liefore tlieir shareholders, and 
 ill a very few \\iieks, or even .Inys, it was found - 
 without iiiiputa'.ioii of fr.'iud on anyone -that those 
 tiecoinits were really nominal, ami that enormous 
 sums which were returned as good, turned out in 
 the end to he of the most doulitful character. It is 
 reallj^ of the gre.itest coiiseijuence, therefore, that 
 not hoh 
 
 fter Its 
 shareholders for an ainonnt iipproximating to the 
 amount of their suhscriptions, and thus "making 
 tlie transaction a nominal one. Ajiart from this 
 dillicuhy, which, 1 think* the hon. gentleman's 
 proposition may to some limited extent ))re\eiit, 
 I nnist say for iiiy.self that the experience of On- 
 tario, so far as I can gather, with reference to the 
 not lieeii favmalile. I say so 
 more openly hccause I very mcII rememher 
 discussion we iiad, a good many years ago, 
 when the late .Sir Franci.s" Hiucks was Finance 
 .Vlini.ster, when we had hefore us that whole 
 (piestioii, and mIicii a considc'rahle ell'ort was made 
 to kec)) u]) the niinimiim capital for the estalilish- 
 
 we sliou 
 
 giving them a, security which we cannot give. I 
 feel tlie importance of a proper audit, and J think 
 that, if hy any means we coiihl, we should estah- 
 lish to .some extent the independence of the auditor ; 
 and I will even go .so far as to .say that it would he 
 worthy of the consideration of the House whether 
 ■\\e could not provide some ]ieculiar mark of our 
 sense of the responsihility «-hicli any man assuiiies 
 who undertakes the duty of auditing, as 
 tlioroughne.ss and ai-curacy of the audit. 
 
 meiit of hanks. 1 was amongst those in those 
 days I was much younger than I am now- -who 
 moved liy the uiii|iieslioiialile ditiiculties which the 
 smaller centres of |iopulation then labored under, 
 strenuously insisted upon a lower iiiinimum. 'I'liose 
 dilticulties were due to a condition of things which 
 has, to a considerable cMeiit, ilisappeareil. That 
 condition was this : The numlier of the banks was 
 imich siiialler, and tin; capital of the banks was 
 also very much smaller than in these later days, 
 and the iiidisjiosition of the hanks to jirovich- 
 branches in the country was very much greater 
 than it has since become : and it was a fact that 
 
 since lieconie 
 
 ut to the public that we are I very great ilillieulty was exjierienced, arisintr, in 
 
 giving them a, security which we cannot give. 1 1 many instances, frutii the iiiipos.sibility of obtaiu- 
 
 teel tlie iiniiortaiice of a nroner .■indit. ;n„l I tl,i>,l.- ! i„g l,,cul banking facilities inn good many thriving 
 
 conimnnities. It was thought necessary to'gi ve tiio.se 
 facilities; but I must say tliat tlu; experience of our 
 Province has been that the smaller banks ha\e not 
 Vieei'i t>n the whole a success. They have been, 
 .sjjeaking generally, though with some excep- 
 tions, rather an element of danger than otlier- 
 to tlieUvise, and it has been iiroved that the jiresiiit 
 -. . )y avtach- I plethora of liaukiiig .Mjiital, and the widespread 
 
 iiig to liiui a certain respon.sibiUty, which wouM of ■ banking facilities, make it exceedingly diHicult to 
 sati.sfactory remuneration. P.iit, | c.mducl a. ptotitable banking business with a 
 have the conti- ! Irank, weak in the sense of its ca{)ital lu'liig small. 
 I the sharehold- I Therefoie, we ought to consider carefully, though 
 
 course involve a 
 
 so long as the bonr<l of directors 
 
 denee of the shareholders, altliou 
 
 era may, in name, appoint the auditor, after all w . 
 
 know that it is the board of directors who really | 
 
 jiame him, and, so long as that is the case, the ' 
 
 audit(n-s are very much exjiosed to the danger of I 
 
 .doing their work perfunctorily, and of being | 
 
 guiiled, in matters which tit all savor of (luestions '' 
 
 of opinion, by the views of the manager of the I 
 
 institution and those who surround him. 1 was : minimum of ctijiital so low as that which at present 
 
 .ii.sapiiointcd, I confess, to hear the lion, gentle- I obtains. In exjiressing that change ot opinion, I 
 
 inans .statement with reference to the change j think it proper to assume the penit'ential stool, in 
 
 lie propo.sed to make as to the eriiiitimi of smaller I view of my former attitude and of the position 1 
 
 ))ank.s. As to the amount of capit.d to be jiaid : uow take on this (piostion. 
 
 in, if he is only going to ascertain, by the actual i 
 
 payment of cash that cash has bi>en provided I • 
 
 not at all unfairly- 1 do not suggest any interfer- 
 ence with any existing institutions- in the light 
 of the experience of the past few years and of the 
 existingconditioiiof things as to the amount of bank- 
 ing cajntal whi< ii is available -the question whether 
 it may not really be in the interest of the country, 
 to iliscourage tlie establishment of hanks with' a 
 
8 
 
 THE VALIQUETTK CASK 
 
 £y£;":;:ri!:;:t;";'>?!'^-''!'--.!-t«-. 
 
 ilwiian i'lou;:!!! ,|,,vv,i, I Misli ff. ■■ ill !,; ,. ''• i f u' oliifcr fi,,.,. ,. I . , '^'"'"'S^'" ^*"-' "laiiiuil as 
 tan lutUT •vfii.l, if . '"" "'t<'i"noii |.|,. '"-', '""" ^vliiiiM (lio.sc r.ports w.ivcvi„.,.t,.,l 
 
 piiNiiii'iil will 0(11111' Will' VMii I.,-. „ 'i •"> II nil.- iiu.xr 
 
 tlii.^ »in,ii-, ,„ul t a i,H.\vl ,M I *- '''J ''"""«l> '" C""elM,|.> 
 
 -u,i ,,i,,^,. a po,.,.ei<':;K{, :r ■;!;;;, Jli;^;;- 
 
 1 V.M r- i''' ','"*"»'"" t'"-' 'J''^''le of the ir..u,so 
 ill 1 ,V. l" "r."'''"', "' '^ ^•^•'■-V I"""f"' 1-i m 
 
 , lo « Mh ,,le,ly,, Hs „.as givoi, i„ |s.S-> n,,! L-,,. f 
 I'i;n«l,„. I,ef,;,.. tl„. oy.H of tl,. I,, 'oph. W v^S 
 nftcrwar.ls. This cMnmissi,,,, ha. I th U-^ f 
 neiuly throe yea.M.aa,,,.„,attI;H;uL^i^ 
 
 
 I,.. Iw,., . .1 , '« "" Know •"'" yei It niav I 
 
 .' t ;. «*■';.":'"'"' '"•'"« 'l':«" a stale- large ^^ork- if it 
 
 i."P|'e,'-sMm ,8 that there is a .'en.Tal i"m ,?;,;, f ' I e Iv V !• ''''(''W'';' '■"Venwuent undertaki.,.' as 
 
 Httonieys for ,,ul,Ii,. ....e.litok It is a M-ise ■■e.ml., 
 t;on.,. tins ease, roves, if tl,estate„;in;:::.::^t:3 
 
 NCIM'LV-TIIEXT VALL|.;v fAXAL 
 
 '« ni theerm.litiou it is in to-day. nearly ei.dit v-'ars 
 Jiitei', namely, tliat fortiveor six ve-.rs- s ^ ,; i i 
 the (;oyernn,ent tiien .leelare^Ui^ l' ^^ U ,^ '^1;^ 
 
 i*-poit ot that eoMiniission is nosti.oue.I for th-ee or 
 fm.r years, an.l we ,Io not know'w,,., is to 
 "'■tained. I think tlie hon. genthniin",!;; til see 
 
 t)TTA\VA:-.l>rinte.n. 
 
 y l)U(i\\ \ C'li 
 
 \.Mi!i;uiJ.\, Printe 
 
 r to tlie (,)ueen's Most Excellent Majesty.