I have taken as the basis of my presidential address the subject of Municipal Finance and its significance for provincial-federal relations. This is a subject of deep interest to me, and one which I think has not been given the consideration it warrants. It is an aspect of public finance which is of real importance, particularly in a federal state.

I do not propose to spend any time discussing the importance of local government. I know some authorities question the future place and use of local government so I shall simply state that I regard it as having a permanent and significant place in our structure of government. It is valuable for the training and interest which it gives to a large number of citizens, making them sources of information and political experience within the community. It serves a useful purpose by keeping many local and controversial issues out of the range of provincial and federal decision. That is, when problems can be settled locally, it means less detail and argument in the administrative and political fields of provincial and federal governments. It also permits, within its scope, a closer approximation to government by the people than is possible at any other level.