http://members.shaw.ca/theultimatescam/T...Canada.htm
The Bank of Canada appears to have other controls over government. While reading the evidence of the Standing Committee on Banking and Finance held in 1939 and Hansard, members of the committee raised the issue of the bank’s control over spending decisions of the government. There was reference to questions by low-profile backbenchers of the House of Commons about why this was so. Or, why any other policy was not being carried out even though it would greatly assist the economy. The response in the House of Commons would indicate that, although the government wished to proceed, the money was not available because of decisions made outside of government! This was confirmed many years later when the governor of the BoC told the government on more than one occasion that Canada was in no position to kick-start the economy. (As if the government could have done it without the blessing of the BoC.)
The Bank of Canada appears to have other controls over government. While reading the evidence of the Standing Committee on Banking and Finance held in 1939 and Hansard, members of the committee raised the issue of the bank’s control over spending decisions of the government. There was reference to questions by low-profile backbenchers of the House of Commons about why this was so. Or, why any other policy was not being carried out even though it would greatly assist the economy. The response in the House of Commons would indicate that, although the government wished to proceed, the money was not available because of decisions made outside of government! This was confirmed many years later when the governor of the BoC told the government on more than one occasion that Canada was in no position to kick-start the economy. (As if the government could have done it without the blessing of the BoC.)