Traditional remedies and the natural re-equilibrating forces of the capitalist system did not seem to be having much effect, and there was growing sympathy for more radical solutions. 1  The Bank of Canada Act was actually passed in July 1934, but the Bank did not begin operations until March 1935.
I would also like to appeal to the Consortium and the Main Contractor to jointly identify all inherent risks that exist as we start Phase II and put in place effective control measures to avoid derailing the project completion date. The risks that are beyond your control should be escalated to the Bank for attention.