Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1917-06-21
BUSINESS 600
N CANADA
No Financial Depression, and
None Since the War Began.

A weil-knOwn correspondent Of an
important Western daily PAPER recent.
ly made an extended visit to Western
Canada, and in summing I'D the re-.
suits. after going thoroughly into cor.
ditions there. says there is no financial
depression in Canada. nor has there
been anything Of the sort since the
al began. Anyone who has watched
the barometer Of trade, and seen the
bank %clearings Of the different cities
grow and continue 10 grow vii! 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: st Ia true there
have been adaptations to meet new
conditions, and taxes have been re-.
vised. and that q very large burden OF
added expense in many lines has been
assumed. but it has all been done me-
t~hodically, carefully ana with full! re.
gard for the resources 10 be called on.
"That this has been done fairly and
wisely Is proved by the present com.
Portable financial position.
with the exception of a restricted
urea IL the east, Canada Is not an In.
dustrisl country. The greater portion
Of the Dominion must be classed as
agricultural area, with only an lnfni.
tesimal part of it fully developed.
Lacking complete development, the
agricultural portion Of Canada has
naturally placed It's main dependence
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 wnr with efficiency and
sutIiciency and TO maintain and even
advance its civilian activities.
Scandals first element of financial
strength lay in its branch bank sys.
TEN. This system has two great adj
vantages: ii makes the financial re.
sources of the Dominion fluid 50 that
supplies of capital can run quickly
from the high spots to the low spots
also, it places al the command Of eact
Individual branch the combined re-
sources of the whole institution 81
that there Is an efficient Safeguard
against severe strain at any on
point.
!; "Here in Winnipeg, the all-CaHad'
1 banking houses maintain big, stron
| branches and. as elsewhere In th
I Dominion, these held to an attitude Q
\ %saneness and solidIty that prerente
even the start Of any financial di'
turbance.
i. That business generally is now con
Ing strong on an even keel is largel
due to the absolute refusal of II
banks. both branch and Independent
to exhibit the slightest signs Of e
element or apprehenslveness.
! "For all Canada the savings bar
81 figures are astonishing. Beginning wi
"a 1913, they ere, for the fiscal year en-
Ing March 81.
#z 1918 ..So--''-o'e
N; 1914 $780,
.$ 1910 p""'eA'-
rs 1916 73S, 1892
#$ 1917 SSs,io1.O
N: "These figures represent what Tan
N dams have put away after paying I
increased living cost, which Is abo
=, the same as In the States, all increi
~, es In taxes and imports Of all kin
-, made necessary by the war anu g
~ erous subscriptions to war bond
sues.
"prohlbition has helped greatly
W. keeping the money supplies clrcui
= ing In the normal. necessary chann'
" Tradesmen generally attribute n la
part of the good financial condition
the fact that the booze bill has D.
eliminated. Canada takes law enfoI
ment with true British seriousness.
"F~inancially, rs In every DINER
snect. Canada has developed suite!
CIV. She has done 1t In spite OF i'll
conditions which would not look pr
Using in the States and she has aoh
In q big, strong way. 80,
zone of the best things we dld'' ;
n of the leading Winnipeg oanH
TO me, "was to decide early IN
game that we simply would not Dor
trouble.
I'VE started in ignorance Of DO"
war would develop and without M
ing exactly what our resources "
and had to find the way.
sand yet Canadians are NOT over
dered with taxes nor are they {
planning Of them. For the CON
people there has been but a sisht
increase, If any, in II direct way.
direct payments, Of course are y
in the shape of higher prices for Il
commodities. hut the price ndvanc
such items is no heavier than IN
h States In the same perlnd"-AdVel
ment.
3d. E