Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-20
CANADIAN PRAISES
AMERICAN TARIFF
Sir Herbert Holt Believes
New mpostS viii Aid
Dominion.
BY JOHN F. SINCLAIR.
specIal n.spateh to The star.

Special Dispatch to The Star.
NEW YORK, October 20.-"I'm de.
lighted with the new American tariff
act" said Sir Herbert Holt, in discuss.
ing Canadian American business rela.
tions with me- Sir Herbert is chair.
man of the Royal Bank of Canada, tho
largest banking institution in the Do
minion.
why are you delighted with it?"
asked. THE schedules generally arc
higher" -,
why? Because American firms will
now be forced to come to Canada ano
set up their own manufacturing plants
If they wish to enjoy the Canadlan
market" replied Sir Herbert. PEI
capita, think we are the richest
certainly among the richest-of the ma
tions of the world We have 100000
people, whose standard of living is far
higher than that of any other nation,
with the exception of the United States
"Only this week, the officials OF two
large American concerns were in Mont
real making ARRANGEMENTS to erect
factories across the line to handle their
Canadian trade. Let the United States
raise its tariff walls! That will no.
hurt Canada-it will help Canada. II
means more American factories ana
more business for Canada. That's why
am delighted"
Sir Herbert Is IA, Irish born, and was
10 when he entered Canada. With no
influential friends, he has become can
ada's richest citizen. He is interested
in water power, paper, banking, steel,
mining, railioads-in fact, his business
has become international. His ADVICE
Is eagerly sought and freely given. He
believes in the future of Canada ana IS
optimistic regarding present conoltlons
in the Dominion.
st think Canada will come back nrst
when conditions change" he said. In
nv opinion we are down on the bot
tom now. with indications pointing to
a faster recovery In Canaoa IMAM III
the United States"
Sir Herbert carries his age lightly.
He looks 30 years younger than the OH
cial scoreboard indicates.
Crop DiversificatiOn.
Sir Joseph Flavelle, another out
standing Canadian business man ana
banker. sees no short cut to business
prosperity. When I suggested that nil
lions of bushels of Canadian barley
were being sold in the West at from
s TO 10 cents above the threshing Dill,
ayes. that's true. It's very hard on
the individual farmers who raise par
lev. One farmer raised $500 busnels OF
barley this Fall and received, after pay
ing for his threshing, cneck 1or Slo.o1
for his years work.
wheat? For the farmer who raises bar
lev or wheat exclusively there Is little
future. But, tied up with dlverslnca-
ton, there is a glorious one.
'That l,5o0 bushels should not nave
been sold, but fed to cattle or hogs.
Take corn. I can remember Wnen II
was selling for 10 cents bushel. !
remember when farmers OF Iowa burned
their corn to get rid OF 1t, Tnen tney
hit on the idea OF feeding IL, When tne
corn prices were low, to their live STOCK.
was it successful? 1t made Iowa the
great corn belt-the finest farming sec
ton of the United States.
tsThese are trying timeS-very trying
tinnes-but we must keep in mind the
mistakes we have made in the past
and let those mistakes be stepping
stones to future prosperity. Every wise
farmer viii quit the one-crop ldea. All
of us have learned that diversiflcatlon
in business pays. The FARMER must
learn it, too.
Canada will overcome its troubles
today and be a stronger, more powerful
nation in the years to come. These
dark days will be looked back upon as
the testing days. The strong men VIII
survive and the weak ones VIII IAN
out"
Sir Jo-eph, 70, strong. individualist
and a Z oronto resident for AZ years,
has seen many business depresSions
come and go. The present one VIII go
Just like the others, he says.
The Canadian Bank Of Commerce, OF
which Sir Joseph is chairman, expects
to open its new S10,000,000 main Office
in Toronto before the end of the year.
1t will be the tallest building given
over to banking in the British Empire.
Sees Gradual Revival.
Col. William Proctor of Cincinnati,
head of the Proctor g. Gamble organl-
eaton, sees a gradual revival in busl-
ness from this time Oh, he told his
stockholders at their annual meeting.
The colonel supported this position by
pointing to the depletion of stocks In
warehouses and the fact that business
for the first three months of the fiscal
year beginning July /, 1880, both in
tonnage and earnings, has been In
excess of last year.
The Proctor g. Gamble Co. has a
guaranteed employment policy which
has as its aim the flattening out OF
seasonal trade. Il is one of the most
efiicient employment plans in America.
The company's workers do not carry
around that worried look" either In
business hours or after. They know
they have jobs as long as they do their
work.
our plan for guaranteed employ
nent has been through very severe
test during the past seven months. 1t
has proved entirely satisfactory from
every angle" said Mr.. Proctor.
The company's program is going
ahead as usual, preparing for future
expansion of business, in both Europe
and the United States.
It seems depression proof.
Fur Farms.
There are 5000 fur farms in the
United States and Alaska with a total
investment of between $4,000 900 ano
De- ,ant of Agriculture. During the
la. =, about 10000 silver fox skins
p-c i in the United States and
Ca =, were marketed.
UD to 10 years ago there were nc
laws dealing with fur farming. 1t was
q new and untried industry. Now, with
certain abuses growing out of 1t, there
has come a flood of laws in a score OF
States. The United States Department
of Agriculture believes that much oi
this legislation IS too severe and thai
It was passed without full considera-
ton of the economic problems in
volved" The fur farmers agree witt
this and insist that they should have
the same rights TO develop their bust
ness as are now enjoyed by cattle
swine. sheep and poultry raisers.
The Department Of Agriculture suns
up the matter In this way:
'Ftlr farming occupies n proper place
IN the general scheme OF conservation
The extent 20 which II may develop a.
an industry depends not only on tn
interest manifested by the fur farmer
themselves. but on the support and en-
eouragement given II by conservation