Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1917-06-23
BUSINESS GOOD
IN CANADA
No financial Depression. and
None Since the War Beoan

A well-knOwn correSponsar4 -
important Western daily rans- ~ ID
y made an extended visit 10 Wss.,-
Canada, and in summing nm -t .'-5'a
suits, after going thorouebIr f--- -
diuons there, says there is ma er.-'3,
depression in Canada. Nor has Ia
been anything Of the sort s.ros
war began. Anyone who has vre.,.-'
the barometer Of trade. ana 500, ,,.4
bank cleariugs OF the different -...-'
grow and continue to grow vii, t.1'
arrived at the same cone.u~ta, ri
trade statistics reveal q Ike ss+,,..'.Y
The progress that the farmers a.
making is highly satisfactory. A. .s..
correspondent says: 1T is r-ra .....
have been adaptations 70 n1a., NV
conditions, and taxes have tas-
viSed, and that q very large bn-d...,
added expense in many lines has hao.
assumed. but it has all been dana r,a
thodically, carefully and win fru .,
gard for the resources TO be called n,
That this has been done fairly .ns
wisely is proved by the present c9n
Portable financial position.
with tie exception Of raS--fo..3
area in the east. Canada is NOT an IN,
dustrial country. The greater no~.io,
Of the Dominion must be classa4 ..
agricultural area. with only an ioe,.
teSimal part OF it fully developed.
Lacking complete development -5a
agricultural portion Of Canada Ia,
naturally placed its main dependence
upon fewer resources than would ba
the case in the States. Even in n-aa.
times, business would be subject n
more frequent and wider fluctuations
due TO the narrower foundation sn,,
which it rests.
Thus, Canada has been aba IA
come up to the war with eeae1c7 and
sufficiency and TO maintain and even
advance its civilian activities.
"Canada's first element Of financial
strength lay in its branch hank SITS.
TEN. This system has Two great al.
vantages: it makes the financial r-
sources of the Dominion fu.d 81 that
supplies of capital can run getes,
from the high spots TO The low spots:
also, il places at the command of each
individual branch the combined re-.
sources Of the whole institution 50
that there is an efficient safeguard
against severe strain at any one
point
Here in Winnipeg. thu a..Ca1a33
banking houses maintain hg Strong
branches and. as elsewhere II the
Dominion. these held 10 an at--i4 "
saneness and soltdity thar prevented
even the start Of any financial dis
turbance.
That business generally is now mn-
Ing strong on an even kee. is largely
due 10 the absolute refusal ~ he
banks. both branch and independent
TO exhibit the slightest signs ct TX
element or apprehelSiveHeS>
For all Canada the safa-s hank
figures are astonishing. Beginning with
1913. they are for the fiscal year a2l
ing March 81:
1913 ......,...........S8- Sc Prs a~8
1914 ...,.............. n2f Wv
1919 OBSERVATION-DISCLOSURES, b>at'-.''-
1916 Observation-Disclosures. 13Slf3-.Z
1917 .....+.......-..-. 50 t..--,'9
These figures represent what t.aa-
dians have put away after paying -as
increased living cost which Is a''l.
the same as In the States al .a'r@a''
IS in taxes and imports q al a.a''
made necessary by the war ans gen
erous subscriptions TO war bond -'-
sues.
Prohibition has helped greatly IN
keeping the money supplies .rll.a'-
ing in the normal, necessary c1aa2e'>
Tradesmen generally attribute @ large
part Of the good financial condition 10
the fact that the booze bill has 'sr-
eliminated. Canada takes Law enforce
ment with true British seriousness
Financially. as in every other -
spect. Canada has developed s1a'1'sA-
cy. She has done il in spite n -l.--s'
conditions which would not looS lr'-l'
Using in the States and she has 1212 "
in q big, strong way.
"One Of the best things We did 'a'l
one OF the leading Winnipeg aaa'-'5
to me. 'was TO decide early ID .--
game that we simply would BOZ 5'r't"
trouble.
1--WE started in ignorance II Row '-7
war would develop and withoH- -a'
ing exactly what our resources "7'H
and had 70 find the way.
And yet Canadians are nor o'-'
dened with taxes nor are they s
planning Of them. For the c'-l-
people there has been but q s.-. "a
increase. il any. In q direct "A'
direct payments Of course. are
in the shape of higher prices taT ''-
commodities, but the price a1F4a
such items is no heavier thar ="
states in the same period. ADV @r--'s
menL