Document Record

Creator

Canada. Dept. of Finance.

Title

Department of Finance : central registry records

Identifier

lac_mikan_134190
163514
RG 19 E 5 l
R200-81-2-E
R200-81-2-F
Government
Business and commerce
oocihm.lac_mikan_134190

Document source

Library and Archives Canada / Bibliothèque et Archives Canada

Language

English

Description

The Department of Finance was formally created in 1869. Originally, its primary function was administering the collecting and spending of public monies, and servicing the national debt. During World War One, the federal government borrowed from and taxed individual Canadians directly for the first time (through Victory Loans and income taxes). Massive expansion of the economy during World War Two led to a growth in the department’s influence, along with the introduction of Unemployment Insurance (1941; now known as Employment Insurance) and Family Allowances (1945). The Department of Finance Canada is described by the Canadian Encyclopedia as now being “the federal government's main engine of research, advice and analysis on national economic and financial affairs, including fiscal policy, debt management and taxation.” The department comes up with the federal budget and tax and tariff laws, manages federal government borrowing on the financial markets, and represents the country in international financial institutions. The Bank of Canada and the Auditor General report to Parliament through the Minister of Finance.
This collection consists of central registry records relating to the various activities of the Department of Finance, and document most aspects of the department's policies during the years 1910 to 1957. Included in this collection are central registry files containing various papers relating to the activities of the Wartime Prices and Trade Board.

URL

https://heritage.canadiana.ca/view/oocihm.lac_mikan_134190