Williams news., 1917-07-19
BUSINESS GOOD
 IN CANADA
No Financial Depression, and
 None Since the War Began.

None Since the War Began.
 A well-known correspondent of an ly made an extended visit to Western Canada, and in summing up the re- suits, after going thoroughly into con- ditions there, says there is no financial depression in Canada, nor has there been anything of the sort since the war began. Anyone who has watched the barometer of trade, and seen the bank clearings of the different cities grow and continue to grow will have arrived at the same conclusion. The trade statistics reveal a like. situation. The progress that the farmers are making is highly satisfactory. As this correspondent says: ''It is true there have been adaptations to meet new conditions, and taxes have been re- vised, and that very large burden of added expense in many lines has been assumed, but 1t, has all been done me thodically, carefully and with full re- gard for the resources to be called on.
 'aThat this has been done fairly and wisely is proved by the present com fortable financial position.
 "With the exception of a restricted area in the east, Canada is not an in- dustrial country. The greater portion of the Dominion must be classed as agricultural area, with only an infni- tesimal part of it fully developed.
 "Lacking complete development, the agricultural portion of Canada has f1,ro r,1o ffc fp upon fewer resources than would be the case in the States. Even in peace times, business would be subject to more frequent and wider fluctuations, due to the narrower foundation upon which 1t rests.
 "Thus, Canada has been able to come up to the war with efficiency and sufflciency and to maintain and even advance its civilian activities. "Canada's first element of financial strength lay in its branch bank sys- tenn. This system has two great ad- vantages: it makes the financial re- sources of the Dominion fluid so that supplies of capital can run quickly from the high spots to the low spots {; also, 1t places at the command of each individual branch the combined re- sources of the whole institution so that there is an efficient safeguard against severe strain at any one point.
 Here in Winnipeg, the all-Canada banking houses maintain big, strong branches and, as elsewhere in the Dominion, these held to an attitude of saneness and solidity that prevented even the start of any financial dis turbance.
 That business generally is now com ing strong on an even keel is largely due to the absolute refusal of the banks, both branch and independent, to exhibit the slightest signs of ex- citement or apprehensiveness.
 "For all Canada the savings bank figures are astonishing. Beginning with 1913, they are, for the fiscal year end ing March 31:
 1913 .................. .$e22, ,e2s, ,96e 1914 663, ,650, ,23C 1915 .................. 6S3, 761 ,4SI 1916 73S, ,169, PIE 1917 SSS, ICE, ,69s "These figures represent what Cana dians have put away after paying the increased living cost, which is about the same as in the States, all increas es in taxes and imports of all kinds , made necessary by the war and gen , erous subscriptions to war bond is
 sues.
 Prohibition has helped greatly 1T
 keeping the money supplies circulat ing in the normal, necessary channels | m. T 11- part of the good financial condition tt the fact that the booze bill has beer , eliminated. Canada takes law enforce
 ment with true British seriousness.
 Financially, as in every other re
 spect, Canada has developed sufficien cy. She has done 1t in spite of initia ! conditions which would not look prom ising in the States and she has done
 in big, strong way.
 "One of the best things we did," sai f one of the leading Winnipeg banker $ to me, twas to decide early in tn game that we simply would not borro1 a trouble.
 s "We started in ignorance of how tn T war would develop and without know l. ing exactly what our resources wer, Il and had to find the way.
 h And yet Canadians are not overbul ,l o dened with taxes nor are they con
 plaining of them. For the commo
 people there has been but slight ta
 increase, if any, in a direct way. Il } direct payments, of course, are mad
 in the shape of higher prices for livir e commodities, but the price advance C d such items is no heavier than in t1
 States in tbe same period."-Advertis
 ment.