The Hawaiian gazette., 1913-07-29
cANADA's BANK LAW REVISION

canada ITS banking tenth
TO revise this after hunt for the money in imitation
Of our 1t would be better should initiate Canada Than
tatt should initiate the New York Times fixed year
for revision keeps those operating their good be.
hdvor against the time of revision and the fixing the time both
makes the revision and prevents alarm when
taken 1t need not be imagined that the Canadian system perfect
Ior even the Canadians do not think But it also worthy
nark that their amendments both reflections of pro
LOT ourselves and aso persistence N what reject For
ample the government bill antagonized by proposal to Sub
ste for the existing Canadian as the
sole bank of issue cancng other bank issues altogether The in
o. ,he proposal supported it expressly account Of the
horrible disclosures this side the border credtabe
at all. boa Ia. u "T' - + - -
to the testimony of former Canadian bankers now prominent bank
es tins country that they regarded branch banking prefer
pom systems who gave testimony which Canada refused
consider its system this This outstanding difference
IN tne two systems and President Fogan attributed 1907 panic
tne multiplicity of our small weak banks freedom
canada from similar disturbances the has twenty
strong banks In the United States there many thousand The
canadian banks average hundred branches branches
neghborhood and farming borrowers
TOT TO our own No borrower to be nj
branch and individual banks many millions in farmers loans
Inc canadian Bank of Commerce has S5oOoooo loaned rural
circuits But the Canadian banks with billions in
partly as investments which properly specuaons
anu partly as the basis OF note issues
me Canadian revision accompanied the same attacks ON
Inc banks as at Washington The nerockng Directorate boce
was oed and list was read of mem r%
canadian business guarantee of deposits limitation of interest
a9 Oh exports OF money were the rejected proposals But
me aramentS action characterized by endines for the
banks well for their customers In the interest Of both he
OF the banks were much enlarged get prior lien
i9ah and the list of things which bank loans may be made WAS
much heightened In the interest dpostors was provided th
ne banks must have their certified ndependen the
Eyneht reeyng the power to make its examination In
NE interest OF retail trade the banknotes was lberzd
e amount beng unlimited provided that the
oV W capital of the issuing bank covered b od ar
p9nnon notes which gold certificates paid into central
'seNe ms central is be paid into the hands of
YES te representing the banks and government This
Of reserves feature OF the Aldrch plan which
was hcy approved by the formal reply of the Aer
YIN bateS Association to the senaeS questions Iut he ono
hne winch or bankers cannot have anything with the word
"a IT. The thing necessary, but word has been CON
"on ~ inc platform of those who may we saw who were
-ygoin& :" give MS political banking system
A was never mentioned during Canadian revision M
Dolly hdifoSed Liberal Conservative banking law Onr nao
rreTo1e nsisten upon that above all THINGS II pos oo.
Emporium That the party should credit than that thc ,r
nnlo owen sand that their objections would he examined with tbc
Wposoe he sarchligh and the megaphoup our foremost nm
Noy on the double standard and the issue of government
Wy interest OF the certified the bin as an unalod
'%shg winch the business world would welcome The notes y
FPS treasury notes issued by the government and loaned ~ G
reserve banks There of the poyernnor
hn 70 issue money wlee does the government pe the rol
" hu Tor TINS blessing the people Were ia he indebted T.,
Wy D'h"rHS The bill no longer the same hin but bo,
rnl pe Democratic bin of any Nor should tbern ne Tn
20 excuse Tor craftsmanship The Democrats should uslco H.
P"p"ean assistance m getting out of their old difficulties