OCR Text |
Show WILL EASILY RECOVER. The Dominion of Canada is going ahead with internal improvements notwithstanding not-withstanding the drain upon her resources re-sources incident to the war. Recently there were sold in New York two sets of notes aggregating $-10,000,000. The notes draw o per cent and aro redeem able in one and two years. Tho proceeds pro-ceeds aro to be used for the capital expenditures of the Dominion during the current year upon undertakings now in course of construction, which shows commendable enterprise upon the part of the Canadians. Since the beginning of the year the total ii mount of Canadian securities marketed in tho United States is somewhat some-what over $1011,000,000. No treasury bills are now outstanding against tin' Dominion, and the amount just, bor rowed v.'il! ' t. tho rcquiremcntx till Ihe cud of the year. The money could liuvo been raised by a Canadian do mestic loan issue of bonds, but the government gov-ernment decided, in view of the heavy financial demands for the movement of crops and to the needs of the business and agricultural community generally, that it would be better to issue the notes and sell them in the United States. The war in Europe will cost the Dominion Do-minion of Canada a great many millions mil-lions of dollars, but no other country engaged in the struggle is so well able to stand the financial strain. The present pres-ent population of the Dominion is estimated esti-mated at 8070,000, including the soldiers at the front. While there is still a considerable annual exodus of Canadians to the United States, the gap is more than filled by immigrants from Europe, and the net increase in population popula-tion is slow but steady. It might bo added that many farmers from the western part of the United States are still flocking to the vast wheat growing grow-ing region in western Canada. Owing to the increase in population hundreds of thousands of acres of land are being brought under the plow, new towns are constantly springing up and railways are being constructed to haul the crops to market. In addition much American capital is being invested in-vested in the mining and manufacturing manufactur-ing industries, and more working men will naturally be attracted. It is certain cer-tain there will be an enormous increase in the wealth of Canada before the end of another decade. The war expenditures, expendi-tures, in the form of notes or bonds, held at home or in the United States, will bo ensilv met. The oneninff up of the great west proved the salvation of the United States after it emerged from the fratricidal civil war, and the settling of the western part of Canada is likely to perform a similar service for the Dominion of Canada. |