The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1917-06-21
ps|hEss GOOD
N CANADA
Financial Depression, and
None Since the War Began

sN uAIeT going luOTOu8nly SlQIO COM
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 clenrings 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 y .It is true there
have been adaptations to meet new
conditions, and taxes have been re-
h vised, and that a very large burden of
added expense in many lines has been
assumed, but it has all been done me-
thodically, carefully and with full re-
gard for the resources to be called on.
'That this has been done fairlysan
wisely is proved by the present COM
Portable financial position.
with the exception of a restricted
area in the east, Canada is not an i'm
dustrial country. The greater portion
of the Dominion must be classed as
agricultural area, with only an infini-
tesirnal part of it fully developed.
Lacking complete development, the
agricultural portion Of Canada has
naturally placed its main dependence
upon fewer resources than would be
the cas- in the States. Even in peace
times, business would be subject to
more frequent and wider fluctuations,
due to the narrower foundation upon
which it rests
"Thus, Canada has been able to
come up to the war with efficiency and
sufficiency 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 adj
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
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
and solidity that prevented
ever 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-
element or apprehensiveness.
For all Canada the savings bank
figures are astonishing. Beginning with
1913. they are, for the fiscal year end
ing March 81:
1913 /. .$622, 92S, 96S
1914 Observation-Disclosures. 663,650,23O
1915 $50, 6 ,432
1916 73S,169,212
1917 1888, 765,69S
These figures represent what Cena-
dams 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 wal bond is.
sues.
Prohibition has helped greatly in
keeping the money supplies circulat
ing in the normal, necessary channels
Tradesmen generally attribute q large
part of the good financial condition te
the fact that the boo Dill q peer
ment with true British seriousness.
Financially, as IN every other re
spect,s Canada has developed sufficien
cy. She has done It in spite OF initia
conditions which would not look prom
ising in the States she has done
in big, strong way
One OF the best things we DID, salt