Evening Republican, Volume 17, Number 143, Rensselaer, Jasper County, 16 June 1913 — GOOD TIMES IN CANADA [ARTICLE]

GOOD TIMES IN CANADA

BUSINESS PROSPERING, TRAM INCREASING AND FINANCES IN GOOD SHAPE. The present tightening up of money must not be looked upon as being la any sense brought about by financial stringency. It is really more a period of stock-taking resorted to by th| banks to ascertain the true condition of the finances and trade of the country. Legitimate business enterprises are not affected. Throughout the States there are those who if allowed to continue borrowing, would inevitably be a means towards precipitating something a good deal worst than they feel now. In Canada, the conditions are excellent, and it is safe to say business was never better. The pulse of trade is carefully watched by the Finance Department of the Dominion government, and it is illuminative to read portions of the address of Hon. W. T. White, ths Finance Minister, delivered a few days ago before the House of Commons. Mr. White’s remarks are in part as follows: ' “It falls agreeably to my lot to extend my most hearty congratulations to the House and the country upon the prosperous conditions which it continues to be our good fortune to enjoy. lam happy to announce that the outcome of the last fiscal year, which ended on March 31, will prove even more satisfactory as reflecting by far the highest pitch to which our national prosperity has yet attained. 1 have every expectation that when the books are closed, it will be found that the total revenue will have reached the splendid total of 1168,250,000, or an increase over the year 1911-12 of over $32,000,000. Some indication of the magnificent growth of the Dominion may be gleaned from the fact that this increase in revenue during the period of one year almost equals the entire revenue of the country seventy years ago. “The augmentation of revenue to which I have referred has not been irregular, spasmodic or intermittent in its nature, but has steadily characterized each 'month of the entire fiscal year. It was of course mainly derived from Customs receipts, but the other sources of revenue—excise, post office and railways—also gave us very substantial increases.” “That in a period of great financial stringency not only have we not been obliged to resort to the congested markets of the world, but have been able to reduce so substantially ($23,000,000) the debt of the»Dominlon, must be a'matter of gratification, both to the House and to the people of Canada. "I believe that during this period of exceptional money stringency the credit of the Dominion as reflected in the quotations of its securities has maintained itself among the highest in the world.” . Owing to the favorable-state of its finances Canada was in a position to pay off a heavy loan in cash without recourse to the issue of bills or securities.—Advertisement. sy

Whereter the tree of benevolence takes root, it sends forth branches above the sky.—Saadi.