Ontario Community Newspapers

Ontario Scrapbook Hansard, 12 Apr 1924, p. 1

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Mr. McGarry proceeded: '"Now, 'the statements, of course, have been carried in The Globe for the past week inferring that, while I gave evidence the other day, there was some campaign fund. That is the inference that is drawn from the article in The Globe of April 8. I want to make now, in the most ex-- plicit possible way, the widest state.-- ment that nobody within my know!-- edge, either myself or anybody in my department, or anybody in the 1 -- Like an equatorial hurricane Hon. T. W. McGarry, former Provincial Treasurer of Ontario under the Hearst Government, blew into Pub-- io Accounts Committee yester-- day morning to issue a vehement de-- nial of "The Toronto Globe's infer-- ences that T had been getting money /mwflf, or that thero was a cam-- |paign fund 'being carried by some-- | body."' Conservative party, ever received five cents from the Home Bank or anybody connected with it. Now, is that wide enough ?" Mr. Sinclair--I am not asking you. Mr. McGarry--I know you are not and you know, Mr. Sinclair, I a Makes Comprehensive Denial. Mr. Sinclair, Liberal Leader, pro-- tested that the committee should not be turned into & political meet-- ing, arvd Chairman Finlayson ruled that, as certain inferences had been thrown at the former 'Treas-- urer, Mr. McGarry had a perfect right to come to the committee and demand a hearing as he had done. The Chairman commented that it was refreshing, after the difficulty the committee had been having in getting some witnesses, to have one witness come forward with a de-- mand to be placed in the witness-- _ NEVER TOOK A PENNY FROM THE HOME BANK In 'his vigor of expression the for-- mer Treasurer pounded the table at which he was sitting, hammered the reporters' table, and finally brought his huge fist crashing down upon his glasses, breaking them into sev-- eral pieces. To an expression of concern by Charles McKeown that he had smashed his glasswes the for-- mer Treasurer brusquely replied that that did not matter, and went on with his vociferous deniale. "I was on oath the other night in this committee," he said,. "and I now repeat what 1 said then: I never got five cents from the Home Banmk or anybody connected with it, and I will go further and also say that I know of no campaign fund, that I never received any money from the Home Bank in any way for campaign funds or anything else, and I defy The (Globe and Mr. Sin-- clair and all the leaders of the Lib-- eral party to prove anything againet Smashes His Glasses, Hon. T. W. McGarry Vehe-- mently Declares T hat He Knows of No Campaign Fund -- Frankly Admits Favoring the Home Bank and Tells Public Ac-- counts Committee M. J. Haney Asked Him to In-- crease Government De-- posit to Make a Showing HOPES MATTHEW S WILL COME FORW ARD 4 | | OR ANYBQODY IN IT "But it was not with the idea of fooling the sharehoMers of the bank or fooling the public. J had a re-- quest from Mr. Haney, who was an officer of the bank, that they want-- ed to endeavor to get their deposits up to $20.000,000, and so I helped the bank--the only time. But anything I did in that way is on record up in my G@epartment. I have never done anything in my life that is not on pecord in the department in regard to the office I held from 1914 to 1919." '"Now, what was the indueement for me to give depos'ts to the Home Bank? T have already told you that at that time I did everything I emuld, in a provner way, to favor the Home Bank. consistent with my nath of af-- fice and my honor and my integtrity as Treasurer of Ontario, and, there-- fore. there have been times in the bhistory of that institution when I have even made a specia\ effort to help the Home Bank. Ani I want to say this much, that in 1919--I think in May at the end of the fiscal year, the only time in the history of the bank--I did place a deposit to their credit in order to help their an-- nudl return. ' '"Now, they claim that in 1919 the Home Bank paid $53,000 or $63,000 interest, and the next highest bank was $40,000 or $45,000. That is quite true. We were doing a much larger business in 1919 than we had ever done before. We were carry-- ing much more money, and bank analyses will show that. But, while there was twice as much interest ob-- tained from the Home Bank in 1919, I find that in 1918 the Home Bank pald us $32,000, and the next highest bank paid us $9,000. That means there was more than three and a half times as much interest obtained from the Home Bank in 1918, and this was before this tollgate was es-- tablished. This was at a time when there was apparently no inducement to anybody, political or otherwise, to give them deposits. "I go back to 1917; in that year the Home Bank patd $25.000. and the next highest paid $9.000--almost three times as much. No tollgate egstablished at that time. "It is true, in 1919 the deposits were heavy; but why doesn't The Globe, Mr. Chairman, when it quotes the amount of interest obtained by the Province in 1919 and compares | it with the amount of interest ob--| tained from other banks in which : we had deposits, and draws the con-- clusion that we had twice as much money in the Home Bank as we had' in any other bank--why doesn't The Globe, If it wishes to be fair, com--! pare 1917 and 1918 ? i Condition in 1919. I Jjust enougn of a polhtivian to know exactly what is passing in your mind. If you continue, and if The Globe can continue, repeating these articles, and everyboay can -- throw mud at the Conservative party, they will do it. And I can quite under-- stand your reason for not asking me &ny questions this morning. the other night on oath. 1 did iavor the Home Bank. 1 say it now. 'The Home Bank was recognized as a Catholic institution. Everybody in the Province knew that. When i be-- came Treasurer, I told you the other day when 1 was here, one of the di-- rectors came and asked me to give them more deposits. I did so. Many of the directors were personal friends of mine, and during the whole time I was Treasurer 1 did favor the Home Bank, and I am not ashamed of anything I did with the Home Bank. Mr. Sinciair asked if it were un-- derstood that the former Treasurer would be available later for exami-- nation, whereupon Mr. McGarry declared that he would be there any day and every, day that the commit-- tee or %:ly member of it said they wanted him there. He was not go-- ing to run away, Newspaper editors, he said, in publishing such articles, ought to remember that there were more than the men mentioned con-- cerned in the effect of them--there was the man's family. Did Favor Home Bank. '"'The inference is that 1 was fa-- voring the Home Bank," he con-- Qnued. "That is true. I said Tthat has 310:'31". AP"-' The former Treasurer saild he would give up all his private work to attend the committee, and added: "I would only like to say this much: that I was wealthier when I went into the Government than 1 was when I went out. I had a big law practice. I made $25,000 a year,. and I have made it every year since I went out of the Government. I have an earning capacity that would not induce me for anything to accept $42,000, or $12,000, or 550,0?0. or $100,000. I am not of that breed. And I challenge those who try to traduce me to produce one bit of evidence to prove that I ever took five cents." uL e ns isdis VC COIIUS. Mr. Doherty took up the details of the Home Bank cloan flotation, which Mr. McGarry declared was good financing for the Province, 8 fact, he said, which would be proved EPE L Ung . EB O Weemld ie Mn . 2000 CESii on o o i ue ) 1 by the records, for, although it cost the Province 6%4 per cent. At that difficult period, later fotations cost the Province 7 per cent. Mr. Mc-- Garry repeated his statement made at a previous session of the commit-- tee--that he considered the hu.'fifi:q; 1 ' 8 y cte wemer lGR ~ "It is all very woell for the Editor Oof The Globe to attack a man, but if he will only stop to think that therc are others besides the man whom he is attacking--the effect of this kind of thing--he surely would not write editorials such as I see here; and what I say is this, gentlemen of the committee, I toll you now I wili be here every moment your committee is sitting.' Wealthier Out of Office. LCC = _ ERREVE ECC PPR TE OTT in of succession--duty--free stock g0008 business for the Province, provided the Province got it at the proper price. Denies Arrangement. Mr. Doherty--Mr. Clarkson in M evidence said he had been informed by those in the bank, particU!a'\ mentioning Fleming, who was in the ask Mr. Lyon, Editor of The Globe, to consider the fact that I hnave a family, and my name is as precious to me as any nam¢ that any mar can bear, and I intend defeonding that name," said Mr. McGarry. "I want to say, these articles in The Globe----and now i am speaking particularly to the Editor of. The Globe--are written with the express purpose of bringing into this whole committee's work politics, and rot-- ten politics, and I am under oaith when I am saying this, and I know what I am stating. I would like to Mr. McGarry--I never saw a man in my life that I am afraid of, and I would sooner have him here than anybody else. And I will be heard, don't worry. * Mr. Sinclair--Not while you are here ? "Now, then, with regard t events that took place in 13919 the loan. They are on reco my department. I have not ha opportunity of reviewing papers, which are in your p ston, Mr. Treasurer, but I wil come very much having them ; on the records of this committ there is anything required by explanation I wilt be glad to g I will be glad to come back d@ay that my friend Mr. 8i might require me here, I w glad also if the committee se to bring the FEditor of The who wrote these articles, so th may have any information he have." Not Afraid of Anyone. "Mr. Matthews was Secretary, course, Yduring the whole time. |] was not there as Deputy Minister was the head of my department, a I take fulil responsibility for eve; thing I did. They teli me--I dao know--that Mr. Matthews felt rath sore because I would boss him t much. I did boss him. 1| ajwa boss everybody that is under n And everything that took place dau ing the time I was Treasurer I a cept full responsibility for. "Now, then, with regard to t events that took place in 19%19, a; Regarding Assistant | Tre; Matthews, Mr. McGarry sa:ls;urfi; will welcome the appearance in this tribunal of Mr. Matthews 1 wiil welcome the appsarance her» of every person in my department while I was Minister, and I will welcome in this tribunal, too, every person connécted with the Home Bank, and I G@e'y anybody to say that I ever got five cents from any-- body in connection with it. That is wide enough. Refers to Matthews, he FEd4itor i1an, but if that there whom he this kind in nis ni d@ur mM« £i€e ) Oye 1 C Or

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