The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1916-02-11
WONDERFUL PROGRESS
IN CANADA
1t Is Over the HiII-SpIendid
Bank CIearings, and the Crop
Returns Reveal Vast Posi-
bilities for the Future.

There are opportunities for invest
ment in Canada now that may prove
attractive to American capital Land
prices in the west are low and wages
less than on this side of the line, and
whatever the outcome of the war, the
future of the Dominion is assured as
one of prosperity in the development
OF its vast resources" Chicago Tribune.
A short time ago the Canadian gov
ernment asked for private subscrip-
items to loan of fifty million dollars.
Less than month was given for COM
pletion of the subscription. On No
vember Both, the day upon which sub
scriptions were to cease, 1t was found
that ITO million of dollars had been
subscribed or 60 million dollars more
than the amount asked. IL there were
any so pessimistic as to imagine that
canada was passing through period
Of hard times the wonderful showing
Of this subscription should put aside
all doubts of Canada's rapidly increas-
ing prosperity.
The bank clearings of Winnipeg for
1916 were billion and half of dol
lars. Think of it. Then, in addition,
there were the bank clearings of the
other cities throughout Western Can
ada. Regina, Saskatoon and Moose
Jaw also show big increase in clear
ings. The Winnipeg statistics show
that the city has done the biggest
financial, commercial and industrial
business in its history in 1915. A
billion and half are big clearings,
representing business on per cap
ita basis of over $1,000 per head for
every man, woman and child in the
city, and has gone ahead of big man.
ufacturing cities like Buffalo, and
runs a close second to Detroit. 1t
has shown bigger bank clearings than
the middle west cities of Minneapolis
and Duluth, and has exceeded Los
Angeles, Seattle and other noted ship
ping centers. 1t is now side by side
with the ten biggest cities in North
America in amount of bank clearings.
But because the war helped Canada
recover quickly from a natural eco
nomiC depression it does not follow
that. at the end of the war, the coun-
try must suffer relapse, and straight
way return to state OF inactivity and
hard times.
A Winnipeg paper, with a we'll
known reputation for conservatism in
economic matters says:
Canada's undeveloped fields should
prove a mighty factor after the war in
adjusting the country's business from
one, period to another. The staggering
figures of this years crop, showing in
creases in production of SO per cent
over last year, give slight idea of the
future wealth stored in vast stretches
OF prairie plain yet untouched by the
pillow. The Northwest Grain. Dealers AS.
ISOLATION on September 1 estimated
that the wheat crop of the three Prairie
Provinces would amount to 250,S00, 600
bushels. On November 10 that esti-
mate was increased to 307, 100000
bushels. The Dominion government
on September Is estimated the West
ern wheat crop at 275,772,2OO bushels,
but on October Is those figures were
changed to 3O4,200,OO0 bushels.
iOt tUC "CStcTn
Crop.
And the amount of money which the
west is receiving for it's grain has not
yet been wholly appreciated Up to
the 10th of December the Canadian
west had received some 10 million
dollars for 1872 million bushels of it's
grain crop, of which 149 million bush
els was wheat. The average price of
NO. l Northern wheat for September
was 1919 cents; for October 98k
cents, and for the first three weeks of
November S103A. On the 10th of
December there was fully 100 million
bushels of wheat to be marketed This
would leave about 80 million bushels
for local consumption in the Prairie
Provinces.
Bradstreet says:
Confidence seems to have returned
in Canada; grain crops are exception
ally large, prices pay the farmer, and
the war-order lines provide work and
aid in circulating much money. Credit
is more freely granted, and interior
merchants are disposed to buy rather
literally ."-Advertisement.