Retaliation Called Possible Over Banking Legislation
OTTAWA (CP)—Canada will fpvite retaliation by the United States and other countries if it “earns a bad reputation by act- ing in a discriminatory man- ner” with its banking legisla- tion the president of the Bank of Motitrea] said here.
G. Arnold Hart devoted most ef two sittings before the Com- mons finance committee to a Bank Act revision that he claimed singles out the U.S- owned Mercantile Bank for fair treatment.
Mr. Hart found little’ sy
among Liberals on the ittee. They sought to his claim thet the antile Bank is ill-used-by a controvers- fal asset-limiting section of the Bank Act. RESTRICTS GROWTH . The section restricts the pos-
tile, among Canada's seven
chartered banks, falls in this
category. Mr.Hart-in-turn-was-not-im*
to the First National City Bank of New York. Later in the year, however
No Evidence ’ Drugs Flushed Down Toilets °
OTTAWA (CP)—The defence department has no evidence un- wanted drugs are being flushed down ¢pilets at Canadian mill-
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the. New York bank bought area from ‘Dutch, inter- ests.
This ‘changed the rules of the game” for a bank operating le- gally under an existing charter, Mr. Hart said. i would be a different thing to establish the restriction against any future foreign . takeovers, but it was discriminatory to nail an exist-
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that formerty kept his mumbers Lfamfty rather than the large’
) Charlottetown, 1) De, ion Said Need ates (tae tentine So “ailty, Go a The Guardian, " Mon., Dec. 5, 1966. 7 Prompt Action : N down and: he is replenishing the|éan live prosperoustly im the | one or even by bonuses for on eration Sept; 90 far removal of] /. ; earth at a rate previously un-| land the lord has given them.” J ! t oy "in hig wind | Os rol oS precedented.” He said it had taken “hon ourndaiis ooo oe ae onfn opuiation suid eoumhud dreds of thousand. of years” to x itn | to (AP)ifhe head ot) He said that if people fall to| Sir Theodore said the first re-|T ee eee See Dies At. 53 of the Toroala nor le ee Britain's family Planning asso-|cdo something fast about .over.| sult of over-population is. wide-| ation of, 3.400.000.000 “and yet 4 cars. His drive: imagination | © today ‘warted the world | population, “the old and horri-| spread poverty. added in only another 35 ” TORONTO (CP)—Ralph Al- ¥' ’. ; a , to ain its excessive breed- | ble triad of war, pestilence and But the old horrible controls ¥ wears, lan, a modern great of Cana. | 204 organisation led:to suclt em) ing. if governments have | famine ‘will return to control|of war: pestilence and famine| \“Where knowledge and means dian Journalism’ snd writing, |clusive stories as the finding in bog! for having | man,” . are not inevitable. We can pre- | contraception have been pro- . died Friday at 33. "| Bropklyn @f: labor leader Hal te lnge frien. “Contrary to What many peo-| vent them if we are prompt, | vided. but the public. refuse to de The red-haired, freckled edi-| Banks and in Munich of Gerda 7 67, writing | ple suppose,” Sir Theodore) ‘‘Noah's new flood is» advane- imitation Bo See in the medical’ journal Lancet, | wrote, “man is a fertile animal, |ing, but the enpaaners, tor and author, died. in hospi-|Munsinger, the German girl the world isfacing ‘a new - taxation— ts , said rl ew |capable of multiplying rapidly.|is not to build an tal from a hemorrhage, an un-| who stirred. a sex-and-security | Noah's flood—the flood of rising| In the past half-century he has|few. It is to expected complication of an op-' ~
ing bank.
Mr. Hart said there is a real threat of retaliation by ‘other countries,
SPONSORED U.S, BILL Jacob Javits, a U.S. senator, has sponsored a bill to place bankihg under federal control: It would provide authority to impose restrictions on foreign banks in the U.S. matching re- strictions placed on U.S. banks in other countries. Committee chairman Herb Gray said the U.S. dilt now has died on the Senate order paper. He said Senator Jayits had not mentioned Canada in speak~ ae of the bill_-on the Senate Mr. Hart said it was clear to him_that the bill. was _meant_as_ saielatias, follo Wing directly from the amendment proposed | for the Bank Act in Canada. Foreign ownership of a Ca- nadian bank could greatly bene- fit Canadians Mr. Hart said. It could provide international con- tacts influential te trade, for tn-
stance. : unlikely circumstances |
In the of a interest buying con- trol of own bank, Canadians. as a whole ‘couldn't have any strong objection,” he sald.
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