New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-16
CANADIAN PARLIAMENT.
AMERICAN INTERESTS AFFECTED.
VARIOUS INTERNATIONAL QUESTIONS - RIN1.
PROCITY-SEAL NEUTRALITY-SUSPICIOUS.
AND UNITED STATES NATIONAL


o.,ouo Ion - Csneoian.-In the coming debates
following the openng of Parliament to-hofro"
the question of the renewal Of the modus VNehu anu
The question of opening negotiations win inc ''-u
states with view to reciprocity, VIII DC prominence
The DELAY in settling the Alaska boundary question:
;he imposs bility of getting England 10 come 10 az
understanding with the United States, satisfactory 10
Canada on the Eeiring Sea dispute and the deSira-
huv nc n consequence Of these and other issues, Oh
Canada taking power to make her own treaties, VIII
be vigorously presented The reciprocity men De
lieve their party is fast growing one; the AuhcA
ationists are becoming bolder the Independents are
strong and eager; the French Nationalist are show
ing signs of revolt the Equal Fighters are resolved TO
break up the dominant party or else to hold the bal
s6ce of power In the history of politics, prob
ably there has never before been such congloneia-
ton of complicated elements in an Englshspeak'nG
Parliament.
Among the many subjects of dissatisfaction con
templated by Canadians are the banking laws Across
the border they see a National banking system that
has come out OF the severest ordeals with success
Here the banking system has repeatedly come TO the
verge of breaking down under very slight strain
That the consequences have not been disastrous Is
due not to any good qualities in the system but TO inc
prudent and conservative men in whose hauus'
fortunately for Canada the management of the banks
mainly rests. There is no other country III the Worlu
where banks are allowed the same freedom from the
supervision and control of the state in the matter OF
note issues as in Canada The sole limitation OF the
note-ssuc of chartered bank in Canada Is lha1 IL
shall not EXCEED the paidup capital OF the BANK Oh
issue The notes assumed to be redeemabie IN
gold but there Is provision whatever Tor speol
reserve. In of the failure of bank the notes
are first lien on the For all the law provides
TO the contrary bank in the hands of unscrupulous
men might get rid of every cent OF It's assets ana DC
involved over head and ears, with noelSsue out
standing amounting to millions and not solitary dol
lar TO redeem it, To be just to the bankers they are
themselves as DESTROYS any can be- and Tor their
own mutual safety, to some system devised by
which the country may be guaranteed against series
of smashes of rotten banks The Government mas
for some time had under consideration various adap
tations of the United states, English and existing
Canadian systems, and has about arrived at the CON
cluson that the leading principle of the National
banks of the United States, modified 10 suit Canadian
exigences is the best. The bill the Government Will
introduce expected, therefore, 10 provide II not Tor
deposit of securities equivalent to the note-issne at
least for an adequate reserve OF spece or appoVef
securities. 1t Is proposed further TO impose tA OF
would amount the present Canadian issue TO about
$500 900 year. which it is thought would be sufficient
would be invested in Government bonds bearing 3
per cent interest and deposited with the finance
Minister here. The banks would realize ) per cent
on the money apart, and the country would be
to the extent of the aggregate deposits; Uo,
iectons are offered this solution especially by the
institutions 1t is almost certain, neverthe-
less that the plan OF reserve aP Gsc at dS
for dollar, and safety fund tax of per cent to be
deposited in the shape OF Government bonds VIII DC
adopted. .
Besides the questions above outlined there Is another
one. prsnant with big issues that must sooner OF
later be thfasAed out. \ beginning Will probably be
made with il at the coming session. This Is the
question Of the Canadian tariff. The freetidde move
mont has about the strength relatively 10 the
policy of protection here has in the United states
The free-tTade here however, have an advantage
not enjoyed by men of the same way OF Thinking
south OF the border. They have conditions OF pOllu
cal disntcgraton and upheaval To work upon tliat
are unknown the political stems OF the Republic
The future of the country is absolutely unsettled
Canada is not nation, and yet she has shaken her
self free of the Leading strings. The national policy
socaed the practice OF protection. i not higi
principle in the sense understood in the United states
for by the very nature Of the surrounding crcum
stances it's temporary eXpedient stop-gap. mere
method of raising money to meet necessary alo
urgently pressing expenditures. In the meantime
new necessities and new difficulties of policy are every
day being developed and phases Of the general ques
ton of fiscal policy involving national relationship
are cropping up. The session of Parliament Is IN
proper opportunity for discussion. and the COMING
gathering Of legislators will doubtless see consider
able progress made in clearing the way of Canada L
better defined position among the countries OF In
civilized world than she at present enjoys.