The Exeter Times, 1922-4-13, Page 7IL
HISORY
. . . . , . . . . OF. . . . . , . . , , . . .
By W. S. Wallace
!A.A., Department of History, University
of Toronto.
H. •the situation. They get' wind cf the
The agitation for propOr banking conisPrrecY, and- they it it by a
facilities in Canada began, very early Istrate"enl which ehows that the mem-
lifter tile Conquest. ,Aseearly asi 1767,
the scarcity Of ettinage led an epter-
prising auctiOneer of -the city of Que-
bec to petition, •,;,,,,ith the self-assur-
ance of his profession, for a monopoly
of the right of issuing promassoey
notes as a substitute for fractional.' 1-1.?allner, and then, -when night came,
currency. Needless to say, the, ipeti.„ I tney trundled the money bacle to the
lion was not granted; but the •agita- ' battik m wheel-barrews.The next
thin was revived later. As the wealthda e the same process -was repeated,
and trade of the colony grew, it was
fund to be a hardship that there
exiseecl rib, machinery by which the
funds of the community could•be con-
cAntrated for particular undertaltings.
• Especially after the Bank of the
United States, established by Alex-
ander Hamilton- in 1793, had proved
a suedes% the project of a Canadian
' bank *as , mooted time and again.
01301;11 'public opinion and officialdom,
however, 'were difficult to eonviece;
tond it was only 'after the country had
had eknerience of the A.emy bflIs dia.-
Mg the War of 1812 that •tbe history
of Canadian banking really began.
The establishment of a Canadian
banking system in 1822 withoutdoulatiUpper Canada; itn•cl. the Halifax Bank -
gave a very considerable impetus toling Company became the object df the
Canadian trade and •industry in the seine political.; antimeisity as the Bank
y•ears that followed. It is a trnism to of Upper Canada. On the other hand,
•st-far that the Canadian banks have
Played a vital ,part in the esonornie
developinent of the •country." The
stability of the Canadian banking gys-
tem has seen Canada through. many
financial crises; and while there may
be room for a difference of opinion
as to whether the Canadian system
encourages local eitterprise)as, let us
say, the Arnerican S,`,,ystern doe's, 1 do
-not think that anyone will deny that
the Canadian -hanks have • played, a.
crucial part in "building up Canada;-'
It is not, however, the place of the
•bers of the Femily Compact, whatever
else they may have. ,been, were ,not
fools, They- lined up the• counter of
the bank with their own friends, and
they paid out silver to these depoSile
ors, very •elowly, th a• very leisurely
and thus the 'bank Staved off the avil
hour • when its reserves would be ex-
hausted. • • Confidence in the 4anles
ability-te'.Pay in goldeand eiler re-
vived, and the run -petered ,out., The
7
)1 A
0.1u
)
??1"
),(^
/DA/10
•••
051
littv,Inous Slalts
ClitertionUno
rete kande ['lei
cuL
:WHERE THE COAL WAR WILL RE FouRI-IT
The above.man gives an ialaa Of whe,re the coal strike is centred. The
solid black, section is Where moat of the coal is mined in the United Statea.
•
New .Brief'
bank was saved; and Idaekeniie hav-
ing failed to ruin the Fanfily Compaet
through its pocket -book, proceeded to
try to mite it through armed rebel-
lion. • :•
A sithilar • situation, prevailed-'ein
Nova Scotia. There thet board of
directors of the Halifax Hanking
Company 1,N4aS all but, identica,1 with
the inembership of the Council. of
Twelve whieli-ovas the'Neva Scotian
equivalent of the -Family COmpriet in
just as the Commereial Bank was the
child of the ,Reform party in Upper
Canada sethe Bank of Nova Scotia
was the child of the Reform iirarty in
Nova Scotia. •
(Concluded, next week.)
,
IntereStina University
Bulletins:
The Alumni Federation of' the Uni-
versity of Toronto has just ' issued
the first three of ,a series of very -at-
' banks in Canadian economic, history
tractive bulletins on -tie work, of the
Provincial University and itg need of
an augmented revenue. The first of
tci *high I wigh to refer especially;
it is rather the -part viliclo. they have.
played in. political and g-eneral his-
tory. To -day the banks steer clear
of politics. Such, however, has not
'always -beenethe • case. In the years
, preceding the Rebellion, of 1837, the
banks—in - Uppei: Canada and Nova
Scotia, at least ---were very much in
a politics. Take, for instance, the case
of the Bank of Upper Canada, the first
chartered bank in thig part of the
country. The Bank of 'Upper Canada
• was the child of the Family Compact.
Of the. fifteen members of its first
ard ef directors, nine sat, in either
*
' no Executive or Legislative Council,
• or held important government peg-
^tionsrand niost of the rest were found
in similar positions shortly after-
wards. Indeed, the hanlc owed its
• charter to a , deliberate L. and cold-
blooded "steal" on the part of the
Family Compact. The charter was
oeiginallri' apip
plied for by the artnera
of a private bank whicheltad been
formed in 1818 in Kingston, which
was .then the moat imPortant com-
mercial centre in Upper Canada; but
when the bill granting a charter to
this bank was going through the legis-
lature, some of the members of the
govei-ning clique in York (as Tor-
onto was then known) awoke to tits,
pes-s•ibilities, and conceived the bril-
liant, idea of appropriating the charter
to thein•gelves. A few trifling oba•ages
‘vere made in the bill; among other
things the names f'ames ora number of
.inerhbers of the Family.Compact were
substituted for the names of the part-
ners in the Kingston bank. As a re-
sult, the Kingston bank found itself
. not only cheated of its charter, but
d
force -to Ace what was reall,v the
competition of a •goverement bank at
the provincial capital. Under these)
circumstances, it was inevitable that
the Bank .of Upper Canada should
have come in for a good deal of the
odium gathering at that time about
the devoted head of the Family Com-
pact -itself.' It was complained that -it
discriminated against appiments• of the
Family Oompa•et--ancl perhaps there
was some truth in the ch•arge, for the
credit of William Lyon- Mackenzie and
some of his politiCal associates ,was
notperhapa all that might be desired.
Certainly, the Reformers 'did not ole
the whole enjoy the finauciaT standing
of the, meMbers of the ruling class,
and 'when they were refused at the
-hand- of the ,b•rmle the •accornmodation
given to people like the Robinsons and
and the Boultons they would naturally
regard the discrimination against
'ill etri as political in 'its motive.
So great was the hostility felt to-
ward the Bank of Upper Canada that
in 1835 the Reformers established a
.banle of their o-een, the Commercial
Bank, , under the management ot a
-ji/Wding Engdish. radicar named Frateols
'-.1Iin eke—afterward s Sir . Francis
11-J•inclea, and prime minister -of United
Canada. The Commercial Bank was,
iii feet, the anewer of the Reformers
to the attempted monopoly of the
government bank, So high did feeling
rain that in 1837, shortly before the
itebellion • of that year, William Lyon
Mackenzie actually tiled to ruill the
'Bank of Upper Canada by engineering
a "run" en it. He got his p•olltic•a•1
friends to go to the beak one, '-'' e 4
.. .„ • Fay, oht
demand the NV i ill d i'-',,0 c. 0
the series deals with the University's . 1e1
,
o was valued at $24,620,945, ac- silage crops,
provinee-wide extension service eon-
sisting of extension lectures, corres- • clng to the Provincial Department Stewart B C —The newly installed
ponctence and extra-nnural courses, of Agriculture., There were 42,575,392 tramway of the Premier Mirtmg Gana.
, •
pounds of !butter, and 58,525,706 p any has been operating satisfactorily,
St. John's,- Nfld.—A, Dew Method of
transporting fees 'from the far north
Ito the fur markets of the world was:
innovated, recently by Major Cotton
when he brought eevcral ido.cica•ges 'of
fins •frona the litiolson's Bay ComPany
anti other concerns tet Cartwright,
Labrador, by eir•plane to St. JoIrriza,
owing to the lateness of the opening
of navigation.
.,• Annapolis, N.S.—The Nova Scotia
Evaperators, Ltd., are considering the
operation Of their, plant' here all the
year round. The evaporating of ap-
ple e during the 'Fall and Wdriter
months, under this arrangement, will
be'fellowed by the minuActure of con-
•centrateci eider, jamjellies, apple
chap, anel •poseibly mince inlets, dur-
ing the balance of the year.
Fredericton N B —Lumbereanci lum-
ber products shipped froln New Bruns-
wick to the Un•ited States daring the
paet year amounted in value to $2,-
565,726. Of this sum lumber accounted
for $1 134 43t • woodpulp • $888 930 •
Pr1.111PWOOd $148,518; laths $371,815;
•ceder _poles $6,010 etsbingles $12,510;
,•spruce filling $3,396; wood cross arin•s
$110.
Quebec; Que.—Butter and cheese'
production •in the province , of- Quebec
in operation by the Otalario Hydro -
Electric Commission. The third unit
is being installed, and, it is expected,
will helm operation in the course of
three noenthe,
Winnipeg, Mall'.—There will be 4,
902,000 aces in IVIarroit,oh a ready for the
,plough this spring, according to the
Department of Agriculture. Figures
obtained frem the •agrieultural depart-
ment show- that in 1921 Manitoba land
was cultivated in preparation for the
1922 crop as follows: new breaking
157,000 acres; summerfallow , 1,612,-
000; fall ploughing, 31,133,000.
.Edmonton, Alta.----0v,er 13,000 per-
sons attended 'the lectures held grathe
-mixed; farming special trains, which
recently completed a tour of the pro-
vince, 'under the auspices of the 'pro-
vincial "government in conjunction
with the.railways. There was an aver-
age attendance of 493 at each lecture.
Saskatoon, Sask.—The increased in-
terest taken in dairying in the pro-
. . •
vonce is shown by the very doocli at -
-7,
The Call rip
Whelilpmst,o'cronintevn'itndwsithealll,,baelideittyle,shgliizlzwal.'d,s brawl
But the wand of spring is the wizard thing
That \ATM. never let me stay.
long for the fields with their 'push of green;
The valleys spangled with AOlVer'Y shoen,
1Viountains that hang from the blue serene
And theroad to the Far Away.
1 hunger to roam where the fountain foam
And the leafing forests bloom;
Through s'now3r bovirus of apple flowers
And slopes where 1 -he redwoods loom.
Over plain and hill would wander free
As the bounding here or the dancing bee;
1 thrill to the world's new ecstasy,
laugh at the winter's doom!
For now the earth has another birth,
And its whitened age lies flown.
By some magic. art it is young of heart
And is ifiled with life alone.
And a spirit in Mountain and stream and sky
Is cfdling to me, and must reply,
Must go where the golden meadows lie
On the road to the Far Unknown!
--Stanton A. Coblentz.
••••••••ar•••••••11.41•10014U
arkets of the Wdrid
TORONTO.
Manitoba wheat—No. 1 Northern
$1.491/2.
Manitoba oats—No. 2 C.W., 571hc;
extra No. 1 feed, 54e; No. 1 feed,
541/20.
Manitoba barley—Nominalfiv
All the above track, Bay parts.
American corn—No. 2 yellow, 741/2,e;
No. 3 yellow:7314s, all -rail..
Barley—No. 3 extra, test 47 •lbs.
or better, 63 to 65c, according to
freights outside; feed barley, 60c.
Buckwheat—No. 3, 98e to $1.02.
Rye—No 2 95e to 11.00.
Milifeed — Delivered, Montreal
freight, bags included; bran, per -ton,
$28.00" to •$30,00; shorts, per ton, $30
to $32; good feed flour, $1.70 to $1.80.
butcher bulls, good, 84,50 to $5,50; do.,
common, $3 to $4; feeders, good, $6.50
to $7; do., fair, $5.50 to $6; stockers,
good, $6 to $6.50; doe fair, $5 to $6.50;
milkers, $60 to $80; springers, $70 to
$96; ealereset,elioice, $10 to $11; do.,
medium, $7 to $8.50; do., common, $4
to $5; lambs, choice, $14 to $16; do.,
common, $6 to itc•r; spring lambs, $11
to $14; sheep, choice, $9 to $10; do,
good, $6 to $7; do., common, $3 to $5;
hogs, fed and watered, $13.75; do., fob,
$13; do., country points, $12.75.
MONTREAL.
Oats, Canadian Western, No. 2, 63c;
do., No. 3, 59c. Flour, Men. Spring
-wheat patents, firsts, $50. Rolled oats,
bags 90 lbs., $4. Bran, $82.50. Shorts,
$33. Hay, No. 2, per ton, car lots, $29
toC3h3e0e.se, finest Fsr-'restel-rs, 161-ei to
.16%c. Butter, choicest creamery, 41
tendance at the dairy Instruction car, to 42c. Eggs. selected, 35c. Potatoes,
is one •of the „particular aubjeets extra No. 2, $22 to $23emixe , $18- to Spring lambs, '$8; sheep, $7; calves,
$10; clover, sia to $18. $5.75 te-$6.50; hogs, selected, $14.
studiel, ..Mneh interest was shown in
Stra\v--Car lotS, per ton, track, Tor 35
w•inter feedin•g of dairy cattle and onto, $12 to 313...
.s•pecial atien,tion was given to the Ontario wheat—No. 1 commercial,
growing of sunflowers and other en- $1.36 to $1.43, outside.,
Ontario No. 3 oats, 40 to 45c, out-
side. •
Ontario corn -53 to 60e, outside.
Ontario flour—ls,t patents, in cot-
ton sacks, $8.70 per barrel; 2-nd pat -
and at short co sax where dairying Baled hay --Track, Toronto,ctper ton, per bag, car lots 90 to 95c.
sRoxt courses f erefariners; joarrnalists,
hottaewiVes., and town -planners, rural
and urban Autorial, glasses, evening
courses foheindustrial laborers- and for
Pol-Wds .ef.'•didese maiinfact,hred last 120 tons, of on'e bbing brought' to the
year. 'el dairy fa.---tories seaboard every eight hours. The ore
.inethe proVince in 1921 was 1,773, be- is graded- at the 'bitakers, that con -
the general public. The secon,c1 •bul- ing supplied' bY 600,160 coovs,
taking the 'lesser 'values being .de-
,
out that teaching is enay pant of the the Queenstori-ChiPPawa eleveloPment, to titte -s•meater at••Anyox, while the
' •
letin deals with research- and points Toronto, Ont.—The second unit of po-sited in an ore bunker for shipment
work of a modern, university whiNe- hav'ng a capacity of between 55,000 higher grade is shipped direct to the
research, though not generally under- to 60,000 horeepower, has been placed Tapoma smelter,
stood, is -a most important service to'
the province. In this conneetion sev-
eral research problems are mentioned,
netably the ode on -diabetes, and. the,
statement is made that more than two
hundred..probiems are new under in-
vestigation in the University's labor-
atories. In the third bulletin post-
graduate work is discussed and the
importanceis stfessed of GO providing
for this type of work that the potential
leaders of this country shall not he
driven to the United States for the
type of specialized! knowledge) and
training which is necessary to make
them experts- in their professions. im-
portant developments of this 'work
are forecasted and commercial firms
are invited to help, as a patriotic
undertaking, in forging intellectual
links between Western and Eastern
Canada by off ering p•ast-gra
scholarships tenable by graduate•s of
Universities in the West.
•N •
t,s
Ppsik *i w1,5 a time
(5f r'61).-neracial , panic, 1161; only
Cit.1111ele but alga in floollirited States
torld areat'Beitaia, aniFehe Tull on the
lyetornised to be a. eery e/S
Yn'fittP17; The, bank, 1 -ver, rose ite„
•
April is Here.
When April came with aunshine
And showers and lilac bloom,
hea.rt with sudden gladness
Was like a fragrant room.
1 -ler eyes were heaven's DWI). azure,
As deep as God's own truth;
Her soul wee made of rapture
And mystery 'and youth:- ••••'
She knew the soery burden a -
Of all -the ancient years,
Yet could not dwell' with sadriess
And 'memory end tears:
With, her there, wad, no shadow,
Of failnae or •deepair,
But only loving ioyance
0 /Heart, hOw glad we were! , „
• • --EJitts Carmeit.
GIVE letE TICKET TO GENOA
—Baltimore Suaa
17S • •p„pN7:.WEAKEN -
MZEE'S
DIZU6
sroRe.
wouLp 100
pLeAsE, cALL
KR, giRtS t-it'N)<vte,Lt.
—ro Toe.
t_NtS NEXT
kPOOR FINE t.161-rff.-
k)?' IN ItiE K-
PIANSt
H ("go Df.",
iAES
tAR wmtki.et.t.,!
Was,Nit-E.D
ot4 Ptiomv..
April Moods.
April met me on the road;
Damp it was, the skies were gray,
And I wore some ancient clothes,
Treasured. 'gainst a rainy day.
April mock oheleance matle—
patents (bakers), $7.20. Straights, in LaughedatOnoe the s,auee jadei
bulk, sea board, $6.40.
Manitoba flour----lat patents, in cot-
ton sacks, 08.70 per barrel; 2nd pat- Waved her fairy wand, and, lo,
nts,18.20. • ` Sulky skies welre -flecked with hluei
e
Cheese—New, large, 20 to 2014c; TPaseatening clouds were chased away,
twins, 201/2 to 21c; triplets, 21 to 2114e. Soon the sun shone brightly through,
Fodder cheese, large, 181/2c. old, large, 1, in well-wora garments, clad,
25 to 26c; twins, 251/2 to 261/2e; trip- Truth 'to tell—felt passing mad! •
l•ets, 26 to 27c; Stiltons, new, 24 to 25c.
Butter—Fresh dairy, choice, 26 to a
etill another day we met;
30e; creamery,print•s, 4e; frenes
sh fit, 44 •
Slice 'twas lovely springlike 'vetoth-
to 46e; Noal43 to 4,No. 27,.40 to
41e; cookin•g,, 22 to 25e. ,
30 to 35c; roosters, 20 to 25e; fostl, NV't°1atheci 'mind with a MIRY feath-
There's the moi , the deo
the olaildren at,ihe gate '
An the little :VAT r nen,lo WI
ettrterinie- white arid etrat'ealite'
Th#re are Simfegy 'asterS blooming ,/
ci
the lkoce,
A:1:14'be:/la'tb1-1;071 1111n:13'1;1411215(1.irlY7'
Oil!". -there delft any itianetiedr• nratere
neath Got-fe -starry 'illoorte'
That Can reat a weary piltgrire , idlee as
little place called home,
in sonartest stilt and hat
Dressed poultry—Spring chicken%
Men. haver s.•ought for geld at l-verz
men have dreamed at 711glit aerie;
In the heat of youstirthey've st gled
for •achlevement's honored name;
Bat the selfish •oroverea are tinsel, and
their shining jewels paste,
And the 'ovine of pomp and gloryso-an
•grorea hitter ito the taste.
For there's resv•er any letreeltter haw,
ever far yen. roam,
Like the laughter of the loved et
in tire leareelness of home.
There is nothing -so Intiportan
mothers Inieribies,
Filled with peace and sweet content-
ment. when the moon begina to rise.
Nething real except the 'beauty ania
the aalno neon her facie,
And the shout:tug of the children a
they' scamper Viand alte place.
For the greatest of roan's duties is t
keep his loved •o•nes glad,
And to- have iris eliitdren •g,lerry in the
father they have had.
So ositeneer a man mae,r wander an 4
'whatever be lire •ca:rer,
You'll find lois soul still stretching t
the home he left somewhere;
You'll find his dreams tangled up
with hollyhocks Mblooiiij
And the little feet of 'children that go
racing through the room
With the happy mother smiling -fas s
watches them at play— ,
These are all in life that matter, ethen
you've stripped the sham away.
as- the
24 to 30c; ducks, 35c; turkeys, 46 to er,
50c; geese, 25e. Sauntered 1, to pay a call,
Live poultry --Spring chickens, 22 April vowed my pride must fall!
to30;28dcderekosost3e8ros;, 1t7urtkoe2y0scf
, ; 45roostdo, 2504 tect;
In a trice she hid the stun,
geese, 20c. . 'With her magic brought the rain
Margarine -201022C. Spoiled inv cherished finery!
EggsNew laid, candled, 32e; itew
hel, $4.40; primes, $3.85 to $4.00. Pull of moaxiaaand steadfast never!
Maple produets—Syrup, per Im-
Beans—Canaclian, hand -Picked, bus- April's a woin:oan ever,
perial $2.25; per 5 Imperial gals.,
Easter.
$2.15; Maple sugar, lb., 18c. -
.Honey -60 and 30 -pound tins, 141k
to 15e per Ib,; 5 and 21/2 -lb. tins, 17 to
18c per lb; Onteario conob honey, per
doz. 35.50.
Potatoes---Ontarrio, 90 -Ib. bag, $1.10
to $1.25; Quebec, $1.50. "Seed potatoes,
Irish Cobblers, $2.00 a bag.
Smoked meats—Hams, medium, 32
to 34c; cooked ham, 47 to 50c; smoked
rolls, 26 to 28e; cottage rolls, 30 to
32e; breakfast bacon, 2910 33e; special
brand breakfast bacon, 37 to 40e;
backs, boneless, 36 to 41c.
Cured meats --Long clear bacon,
$17 50 to $19. clear bellies, $18.50 to
laid in cartons 35e. • Evidence, you see, is Plain--
,
$20.50; lightweight rolls. $4.7; hes'"-
There's a wind in the world
All the flower bells ringing;
There are birds in -the land.
And the children are singing.
Evei'y bud, every brook
Has broken its prison—
Althe earth is in song:
Christ is risen, is risen!
—Nancy Byed Turner.
The -Elder Sister.
Shine, -April! Smile, April!
wght rolls, $41.
La•rd--PlAre, tierces; 161/2 to 17e; April bluster wild.
tubes 17 to 171/2c; shortening', tierces, Storm and scold, warm and cold -
15 to 151/2c; tubs, 151/2 to 160; •pails, 'Tie for firer, the child.
16 to 161/(2c; prints, 17/ to 18c.
Choice heavy steers, 38 to $8.50; do.,
good, $7.50 to $7.75; butcher steers,
choice, $7.25 to $7.75; do.. goad, $6.75
to $7.25; do., medium, $5.75 to $6.e5,
do., common, $5.25 to $5.75; butcher Up to her rosy throat.
heifers, choice, $6.75 to $7.50; do., ---,re
medium, $5.75 to $6.50; do.', common, The giraffe is the only animal which
$4.75 to $5.75; butcher cows, choice, is s-eally dumb. It is unable to express
$5.50 to $6.25; do.; medium. $3.50 to
cutteitself by any sound whatever.
$5; canners and ,rs, $1 to $2;
Work your will through gloat and
gloom,
Tune the song bind's note;
And May shall walk in' leaf 'and bloom
NE BYRNES
_
as
•ant\i" LIFE
N'OU bottif
tvaiNKENfi
•-•••••
r "A'
. .11)., A ••• ,1).
$ 4
ii
t•;..., ...% 1,,..--
•11
Egypt's New King
Formerly Sultan- Aimed Fund ,Pasha,
Who in the new 1.431,,,,-yptinii sovereign.
,
The Lilies of the Field.
WIlen 1 went up to Nazareth --
A pilgrim of the spring --
When° I went up to Nazareth
The eerth was blossoming!
I saw the blue flower of the flax.
Beakie a shepherd's fold!
Along the hillsides' stony tracks
I found the marigold!
Tae, ors ra.e.e.3 a ohne crane spire
Of beauty at ray feet!
The poppy was a cup of fire
Among the cooling wheat!
"When I v,-ent up to Nazareth
1 marked how time came down
With blighting dust and withering
oreath
I.Von the hallowe•ci town!
The years that buried Babylon
Were drifting to efface
The steps of Mary's Ileilvenly So
His- dwelling and his race!
But still I read his permanence
By si•gos thet never dim;
Mrith all their ancient eloquence
The lilies spoke of Iiiml
Ilendorsor‘
1, -
The Miilia-naires of April.
Fula long we have. beenthege,ang,
Now poverty is flown; s,r,
We milidonaires of April •
Are come into our owit,
, Per whenwe come to barteer,
The shirting ,strearas are re)ee41,,, •
And we have April silver •. •
And sell what can't he sold.
However dear our longing%
The fields are tneasurte! fraught,
And we have gold of Aprli
To lolly what can't be boned.
—McLaredborgb, W
"011, Month that comae with eatialbo
crowned, .
And ,golden shadows du*sotitil—
Constant to hes' incoinetifirOcY,,
And fratiriihfuil to terreak,"
—Mice Oer
eta,
Who ARVOZ' 1104 ttall ttotet upcoa,
.1i1V011,01W ean do gonittilving; evtl
1 tt thistle -can feeri itikhildith,