The Morgan County press. (Wartburg, Tenn.) 1916-1926, 1917-06-28
BUSINESS GOOD
IN CANADA
No Financial Depression, and
None Since the War Began.

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 like situation.
The progress that the farmers are
making is highly satisfactory. AS this
correspondent says: 1T is true there
have been adaptations to meet new
conditions, and taxes have been re.
vised, and that a 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.
'"That this has been done fairly and
wisely is proved by the present com.
Portable financial position.
with the exception of 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 infinl.
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 war with efficiency and
sufficiency and to maintain and even
advance it's civilian activities.
"Canada's first element of financial
strength lay in its branch bank sys.
TEN. 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, it 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. j. ..- ~.
"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-
element or apprehensiveness.
"For all Canada the savings bank
igures are astonishing. Beginning with
1913, they are, for the fiscal year ends
ng March 81:
913 Observation-Disclosures: 1922 1928, 1893
914 NEUTRALITY-SUSPICIOUS.. 663 65O,23O
915 683, 761, 432
GIG Observation-Disclosures. TBS, 169, 212
9lI SSS,165,69d
"These figures represent what Cana
ians have put away after paying the
increased living cost, which is about
he same as in the States, all increas-
S in taxes and imports of all kinds
lade necessary by the war and gen.
rous subscriptions to war bond is.
ues. ..
prohibition has helped greatly In
eeping the money supplies circulat-
lg in the normal, necessary channels.
radesmen generally attribute large
art of the good financial condition to
he fact chat the booze bill has been
minated. Canada takes law enforce
lent with true British seriousness.
Financially, as in every other re-
beet, Canada has developed Sufficien-
Z. She has done it in spite of initial
,nditions which would not look prom
ing in the States and she has done II
a big, strong way.
zone Of the best things we did," said
lie of the leading Winnipeg bankers
me, twas to decide early In the
me that we simply would not borrow
Duble.
eve started In ignorance of how the
lr would develop and without know.
g exactly what our resources were,
d had to find the way.
"And yet Canadians are not overbur.
ned with taxes nor are they COM
aiming Of them. For the common
ople there has been but a slight tar
,rease, II any, In a direct way. In
'ect payments, Of course, are made
the shape Of higher prices for living
nm0dfffaS huf tho rrfoa advonoa %,