Authorizing and Completing the Purchases

AuthorC. Ian Kyer
Authorizing and
Completing the Purchases
O   Farmers of Ontario (UFO) government had
determined that higher succession duties could help fund
the government and that the existing succession duty–free
bonds represented a problem, the question arose as to what to do
about them.1 The diculty in answering that question was that the
coalition UFO-Labour government had no f‌inancial expertise in the
Cabinet. The treasurer, Peter Smith, may have been a progressive in
his farming, but he was no business whiz or f‌inancier. He did, how-
ever, know someone who might be able to help. Several years before
in the spring of 1917, Smith had met A.H. Pepall, a salesman for Delco
Light. Pepall had convinced Smith to install electric lighting on his
Stratford farm. They had become good friends, and Smith had helped
Pepall sell lighting to other local farmers in return for a commis-
sion. At the time, neither had expected that Smith would be elected to
the Ontario legislature or be named provincial treasurer. But in 1919
that happened. Smith recognized that his friend knew much more
about business than he did. He also knew that A.H.’s brother, Harry,
understood high f‌inance through his work at Aemilius Jarvis & Com-
pany. This f‌irm, led by the noted businessman and sportsman, adver-
tised that they were “dealers in high grade bonds and debentures and
stocks for investment.2

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