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Diefenbaker became the new Prime Minister and appointed Fleming to the cabinet as minister of finance. As finance minister, Fleming clashed with the governor of the Bank of CanadaOttawa The Bank of Canada is Canada's central bank. It was created by the Bank of Canada Act of 1934, to "promote the economic and financial well-being of Canada. The bank's current statement of its goals is: The Bank of Canada's responsibilities focus on, James CoyneJames Elliot Coyne (born July 17, 1910, Winnipeg, Manitoba) was the second Governor of the Bank of Canada from 1955 to 1961, succeeding Graham Towers. He was succeded by Louis Rasminsky. He is the father of journalist Andrew Coyne, actress Susan Coyne and, over monetary policyMonetary policy is the financial policy of managing the money supply to achieve specific goals—such as reducing inflation or achieving full employment or more well-being. Almost always, special institutions (like the European Central Bank or the Federal R and ultimately demanded and got Coyne's resignation in 1961. In 1962, Fleming became minister of justiceIn most common law jurisdictions, the Attorney General is the main legal adviser to the government, and in some jurisdictions may in addition have executive responsibility for law enforcement or responsibility for public prosecutions. Australia In Austral before retiring from politics in 1963.

In 1967, Fleming returned to politics to contest the leadership of the Progressive Conservatives for a third time but came in seventh and left political life for good.