Friday, April 21, 1967

shrubs and flowers. Canadian Armed Forces will be contributing to a very large extent to our centennial programs. The Tattoo, which comes to Charlottetown and Summerside in September, depicts the development of the Canadian Armed Forces from their French and British origins. It is the largest show of its kind ever to travel across Canada. The Golden Centennaires another display team, Armed Forces Search and Rescue displays, the R.C.N. Ceremony of Flags, are many Armed Forces programs which we shall have the privilege of seeing during the coming year. Many ships will also be visiting the various ports in Prince Edward Island. The Armed Forces are also supplying many bands, marching units and fly-pasts, they will supply equipment and assist in transportation. For the first time in history there will be a one-hundred gun salute July lst. Thirty of our Island communities have plans made for Centennial celebrations and the citizens are looking forward with great anticipa- tion towards these events. It is recognized that the success of these celebrations will be in direct relation to the participation by the citizens, and it is hoped that both young and old will enter into the spirit of Centennial Year. Most of these celebra- tions are planned for July and August, when they will provide additional attractions for our visitors.

Our Student Involvement Plan of over one hundred proiects, competitions and activities has something meaningful for every one of our 27,000 students. The School Athletic Program is designed to involve all students who have any interest and it is planned to motivate, stimulate and encourage our youth to develop and maintain a high level of physical fitness. There is one Centennial Project just completed a couple of weeks ago which I think deserves special mention. This unique idea was the brain-child of a Summerside resident, Mr. J. Arthur Clark, who decided it would be a good idea to re-enact the crossing by boat from Cape Traverse to Cape Tormen- tine. (Applause) I suggest that this was a very daring project and the men who participated in this venturesome crossing deserve much credit. I believe, the crossing turned out to be somewhat more hazardous than anticipated and the excellent phy- sical condition of the participants served them well in getting them to their destina- tion and safety. Another unique feature about this project is that there was no application for financial assistance from government. (Laughter) (Applause) Mr. Clark, is to be commended for promoting this idea and carrying it to a successful conclusion. I don’t know if any of you got any mail by way of this boat, but I happened to get one and on the corner of it,“ On Her Majesty’s Service via Ice-Boat Crossing Northumberland Strait Centennial Project 1867-1967”.

Last week I attended a Federal-Provincial Conference on financial institu- tions at Ottawa. An attempt is being made to have the Federal and Provincial gov- ernments integrate their legislation dealing with investments and securities control. This will ensure adequate protection for the investor and guarantee that similar finance institutions throughout Canada will be on a competitive basis. Consumer credit and interest disclosure legislation was one of the items which received much attention. Several provinces have enacted lgislation on a uniform basis and the re- maining provinces have it under consideration. The Nova Scotia Act came into force last fall and, while they are partly satisfied with the results, they are experiencing some difficulties. Deposit insurance provided by The Canada Insurance Corporation came into effect Monday of this week and covers all federally incorporated institu- tions authorized to accept deposits from the public. I think the member from the Third District of Queens was inquiring about deposit insurance and I would like to inform him. and the House. that you will be asked to consider legislation requiring all financial institutions with offices in this province to provide deposit insurance coverage. Other matters, such as security legislation, mutual funds, and investment contracts, were not so vital to the interest of this province except, to the extent that many of our citizens are investors and all legislation designed to protect the investor is welcomed. The Conference agreed to set up a permanent Federal-Provincial Com- mittee of officials charged with co-ordinating legislation. The Committee’s work is expected to make it possible for governments to give equal protection throughout the provinces by making available deposit insurance coverage and co-ordinating inspec- tion control facilities. This Committee reports to the Minister’s Conference which will be meeting at least annually.

Mr. Speaker, this concludes my remarks on this occasion, but I will have a little more to say as Provincial Treasurer next Tuesday evening.

(Applause). _244_