Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-06-01
CANADA HARD At By
MONEY DEPRESSION
RAILWAY BUILDING AND TOO
MUCH BOOMING IN WEST.
ERIN PROVINCES.
LESS ATTRACTION FOR
AMERICAN INVESTORS
Period Of Readjustment and Settle.
ment Of Bills Of Spectators keenIy
FeIt-Prairie Provinces Being Left
to Depend on Own Rssouress-Do.
minion Trade With States Large.
Especial Correspondence.1

Washington, June THAT Canada
! has seriously felt the financial depres-
sion which existed in the year 1918 is
in a comprehensive report on Canadian
commercial activities for last year by
Consul General John C. Foster, of Of
5 tumwa.
Railway building, 1t rs felt has been
overdone in the dominion. Mr. Foster
says there Is feeling that railway
building has exceeded present require
ments and perhaps too greatly antici-
I pated the future growth Of the country
In the construction OF three great
transcontinentai lines"
Canada. and especially western
/ Canada, has been engaged in a period
of free borrowing Now It is readJuat-
ing Itself with some difficulty to pass
to a period OF interest paying as Mr..
/ Fosters report makes clear.
Less Attra Give 70 Americans.
I While the report of Consul General
| Foster does not concern itself directly
I with the emigration Of Americans TO
y, Canada. it is plain that the conditions
! HIGH he sketches are such as 70 make
western Canada much less attractive
TO American farmers than II seemed TO
he several years ago For several years.
| there has been large expenditure OF
capital for railway construction thru
an unsettled country. Money has been
plentiful and land prices rapidly adj
vancing. The land speculator has
found it easy to realize large profits
and legitimate agriculture has 70
some extent been handicapped by this
fact. while in towns and cities a good
deal OF money has been tied UP In
suburban lot propositions. which, as
MIR. Foster says were essentially OF a
gambling nature and represented very
little real value municipalities under
took public Improvements in advance
of bond issues and relied upon the
banks to finance their operations
/ On Own Resources.
"The prairie provinces will be Obliged
/ 10 rely chiefly on their own resources
for their prosperity in the future saws
the report" The increasing financial
requirements Of the west combined
with the increased difficulty OF Sc
curing outside capital has lessened the
spiri, OF optimism which has been SC
characteristic of Canadian conditions
during the pest few years"
preston was noticeable chiefly In those
industries which depended for market
on the rest Of Canada
II is stated in the report that the
passage Of the new tariff &C, by this
country materially stimulated the ex-
port of certain classes Of Canadian
products. This was especially notice
a BILE in the Increased expectation from
Canada TO this country OF cattle, oats
fax-seed, wheat, fresh cream, beef and
potatoes.
The foreign and domestic trade OF
, Canada" SAYS the report. (which was
so satisfactory during 1912, continued
20 increase until September of last veal
when the money stringency resulting ir
contraction OF credits and production
made Itself severely felt, though some
relief was experienced thru the in
creased exports to the United States
and the expeditions movement Of the
; crops"
Trade With States Large.
OF Canadais total trade. nearly 90 Y
percent was with the United States
The Increase in imports from the
United States was a little over pei
cent and from Great Britain a littl'
: less than per cent. Exports to the
United States increased % per cen
hut for the last three months Of 1871
increased nearly so per cent as com
pared with the corresponding period o
1912
Emigration from the United states e
Canada fell off from l40.i43 in 1912 Il
1881. On other hand. 42.I55 person
who were Canadians by birth or nat
uralization entered the United State
from Canada.
One of the important development
shown by the Foster report is the U.s.
of cooperative methods in marketinl
in the fruit industry. In this. tn
| Canadians have apparently taken
! leaf out of the experience Of the Cali
fornia fruit growers