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Lethbridge Herald Newspaper Archives

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Lethbridge Daily Herald (Newspaper) - October 18, 1918, Lethbridge, Alberta .Friday, October is. inis THE U'ymiJWDr.K DAILY IIKHALD What Victory Loans Now Mean to Canada By E. R. WOOD Ch�(rman Dominion Exacutlve, Victory Loan, 1918 Ono year tins elapsed since wo prepared to subscribe tlio first Victory Ijoan (oan, in j thn loan Issued last. fall. The cmitin-short, 1ms kept In motion and In ftond*| uaiicn of our prosperity during the running order the complex, economic, I coming year will dopend upon u1(. machinery of the country. degree of success achieved liy the join loir, 1!>17 1!US lis 2 s 5 ft, 3 J" o a o H SO JllO.GOS.OPO 80.ni4.oon ."2.4U4.000 111,005,000 $f>4.01)4,000 s.4'jr,.orio 1.700.000 3 3 3 72 i;.7s in roos.) When tho United States entered the war, In April. 1917, wo were therefore faced with two importunt fuctors, ; namely, that Great Ilrltain could not � pay cash for her purchases In this j country and that tho United States | could not longer help finance Cnuiidn. i That was tho delicate, and dangerous ! situation. The auccens of the Victory j Loan mot that situation completely, i Cnuse of Great Business Activity j The great business activity result- i plete success of our 1918 Votory Loan can we continue to llnanco our requirements and carry on generally In the way/we have during the Past woven months. Gave N�w Lenses of Life to Dominion The. remarkable over-subscription of tho 1!H7 Victory Loan completely ehatigod tho uncertain outlook which prevailed when the Loan was offered to the public. It gave a new impetus to agriculture, commerce and prosperity. It. invigorated our efforts In,; the war. ,lt. allowed, as already stated, our Provincial Governments, municipal and other borrowers to finance their requirement* at home. In short, it, gave another lease of life to the activities of the dominion. A Boon to Canadian Farmers For thn farmer, tho Loon was able to finance the only purchaser who could buy his excess products, namely, Clreat Hrltaln. In the fiscal year 1015, our farmers exported annual produce and agricultural products valued at. $209,000,000. Kor tho fiscal year ended 31st March 1918, they exported no less than *7-10,000,00() worth of their output, the largest agricultural exports from this country, on record. Manufacture Prospered by It. For the manufacturer the Victory j Loan continued to give the best ex-I port market he had ever possessed. I Canadian manufacturers during the flscaf" year ended flint March, 191fi, exported $Sfi,000,000 worth of merchandise. That period Includerf nearly eight months of war. For the twelve months ended March IMS, tliey have exported over JCSG.000,000 worth of merchandise. ;m increase in throe years of $">.' 1,000,000 or G4S per cent It is interesting to noto in connection with these exports that since the Lonn was raised, approximately $20,-000.000 per month have been advanced to the Imperial Munitions Hoard at Ottawa for the purchases of Great Hrltaln In tills country. There have also been expended approximately $1:0,000,000 a month for other war purposes In Canada, Including large purchases of farm products. This la a monthly total of $40,000,000 or, during the seven months from December 1917 to .Juno 191S, a sum of $280,000,-000. While the entire farming community has shared In the war orrteis, all tho manufacturers, natiirariy enough, have not been benefitted directly. Fven so. contracts have been given to 950 manufacturers and In July. lG'.S, I 400 manufacturers wore in actual contract relations with the Imperial Muni-I tions Hoard at Ottawa. ; Up to .Juno 1 PIS. our manufacturers havo produced over shells, ^'0,000,000 fuses, 74,000.000 lbs. of powdor and 50.000,000 lbs. of high , explosives. ! Of the 1,(150,000 tons of steel used i In our war work, 1,400,000 tons were j produced in Canada. Contracts havo been let In Canadian j shipyards for 90 steamships with an j aggregate dead weight tonnage of j ::75.000 tons. These orders have a value of $71,000,000. National war plants have been o.� New Loan Must Be Over-Subscribed - Now with, regard to Canada's 1913 Victory Loan, It Is imperative that It should be well over-subscribed and even more successful than the 1917 loan. This Is necessary, firstly, because we cannot continue to do our part In the war without the required funds; secondly, because we ennnot obtain those funds unless the national activities are maintained at high pressure; and thirdly, hecause that end cannot Victory Loan.of 1918. Urn even better than a year ago. Jeopardize tho prevailing prosperous conditions and activities which, in turn, allow ub to participate rreely in tl>o conduct of the war. There Is not a legitimate reason why on this occasion we cannot better the | results of the previous Loan. We ha done well in tho past, both in the aggregate and per capita. At the same time, we realize Ilia! our poailion In Canada Is a fortunate imc, eon; depdnits In Canada at' ;slst. Jtrly 1918 are .11110.000,0(>o. greater tlinn n I Kt July 1917. Tills excellent, reiord was achieved despite the subscription of the 1917 Victory Loan of $41 ll.OUO.OOfi despite the absorption of $50,000,000 ol those bond!; sold by holders during the year, who desired In realize, and despite the purchase by our investors of ?fiO,CiiO,o ". they had decreased! credits ai Hie disposal of the Allies, to only $t.f�4!.nS:i.7H8. on the Hist, of! It Is nece.-sary. therefore, that. Canada July 191S a trifling I should raise the funds required, not decline of under, while the I only to Unwed business generally to ptoceed without, the temporary halt which war loan issues nl-way- bring. Furthermore, it Is not ttio much to say that the maintenance of the market price of the 1917 Victory Loan at the issue price and the recent ndvc;)( In the Issue price constitute a record in war llnance. If satisfactory resultc are achieved Willi Canada's 1918 Victory Loan, the funds ra.'::ed thereby will supply our needs for another year. That is an additional reason why every effort should be made to make the Loan a:i unqualified success. Ing from tho Issues, created addition- i tabllshed at a cost of $15,000,000 in al funds for Investment. In dtte course, > Montreal. Renfrew, Trenton, Toronto It afforded siifilcient Hurplus funds in ' and' Parry Sound, where powder and our own country to llnance. not only  high explmdves are made, fuses loaded the requirements of war, but also I and forglngs produced and aeroplanes credits tor. the United Kingdom aud ! built. Those planffl have been given loans to our provincial governments | tlir�I�- contracts by the Hoard at tho and municipalities. During the first I same prices and on similar terms as eight morttlis of 191R, Canadian In- I 'he independent makers of munitions venters having taken the large Victory i and they have already a�nortl7cd tholr Loan a botilo without dthiy-t.'n. it in lecret and wjo haw quickly your, friends .will iu>to the clmngo. Thn dandruff will disappear, your icnlp atop itching, null ynur lmlr will taka ou  luauo which will dtlight you, 'Horpkldo M*pti4 lar iotp iwsd ill cennsctlnn-with Jlcrjilride will do much te�;arda obtaining tlio dtairod ruult. ItM ffNrjwbM, Ktfuu SmisltHla. Sand 10a In itimpi or coin for � �mmnTim iunb of HERMCiDK. JUdr.M On*. 1�I-A, Tli* Harplcid. Company, Datroit, U. S. A Mad* in Th. U. 3. s THE HEKPIOIDE CO . Datroit 1 j. d .higinhothAm A CO, special agent Munitions Hoard In British Columbia for auroplanos. Tho Hoard now has 67 logging camps In operation. Made Possible Bio U.S. Ordari As a collateral advantage to Canada, by reason of tho development of capacity \a manufacture In a large way, tho United States have found It to tholr advnntago to place orderB foi the production of munitions in Canada to an Important oxtent; the IJnltoiJ States supplies all tho rnw materials, Canada supplying the labor and super-li'iice. Tho benefit of this to tho United Stntcs, ns well os to Canada, will bo understood from the fact that the 75 millimetre shell, which in tho size for which the largest number of orders havo boen placed, both in tho Ilnltnd States and Canada, worn producod In Canada last month In a quantity In oxcohs of tho total production lu the United States. Tho production of this size shell In Canada now on account of tho Vlnltort States Government 1b 255,000 per week and Is steadily Increasing. As a furthor evidence of (ho interest of tho United States In the developed capacity of Canada, representatives of tho marine unction of tho Imporlal 'Munitions Board wero askod lo attend a .conference called by tho Emergency FJoot Corporation of the United States In Philadelphia on tho 2lst June, for tho purposo of ascertaining what assistance Canada could give to them In Iho production of marine engines and marine supplies. Already largo orders .have been placod in Canada for marine castings aud winches, ami gonernl supplies for tha shipbuilding program In the United States. Of course, It Is obvious that this business from the'' United States will have a marked affect upon the exchange situation, ns the money Is practically v;ll for wagos, as the material is pt'ucuc-^tily a!! from tho United states. Labor Demand Maintained The success of the Victory Loan Insured u continued demand for all kinds of skilled and unskilled labor. HlKtl wages havo beon received ni)d Imvtt liolpod to copo with the Increased cost." of living resulting from tho effects.-of war for a Ionic portod. Agti cultural; factory and othnr labor havo earned good wages, giving a margin foi ipivinK. Tho placing of $400,000,00 by the subscribers to the Victory Loan, in the hands of the Government, enabled tho authorities to continue to llnanco year s Victory Loan achieve |AST year the people of Canada lent the nation $425,000,000, by buying Victory Bonds. And because Canada now nee'ds more money and will presently ask the people to lend it, the people have a right to know what was accomplished by last year's loan. Every dollar of it was spent in Canada. Not only was it spent in Canada-working capital of the nation. �it was circulated-it became the It financed millions of dollars worth of munitions for  Great Britain through which great sums of money were passed along to the 'workers in a hundred cities and towns and to the coal and iron miners of Nova Scotia and New Ontario. It financed the purchase of thousands of aeroplanes for Great Britain through which again, millions of dollars were passed along to scores of lumber camps in British Columbia and to thousands ol" workers in the cities. It financed the export of millions of.dollars worth of copper, lead and zinc and that again K 1.983 403,0K:�,S')K 1'Iour.............. I8.8GI.0-H 05.80�.401f Meat.............. ti.llti.-wt 70,729.030 Vegetables.......... 1,205,700 19,034,528 From the Mines: Iron and Steel (1014 ' only)............ 11,374,981 45,810,3G7 Copper, Nickel, Vine, and Aluminum.... l.r>.323,513 46,271,848 From the Industries: Munitions..................... 450,000,000 I-eather............ 2,11)2.062 10,98fi,28l' Clothing........... 337,047 " {1,702.207 Vehicles............ 2,871,llili 22,77U,o90 From the Forests: Pulp and Paper...... 12,446,523- 59,599,331) Canada's fisheries will yield, in addition to the above, during the present year about $9,000,000 worth of export. In addition to the forest items 248 million feet of aeroplane spruce timber averaging ovrr $20 per thousand i$ contracted for in British Columbia as the resultof Canada's financial assistance to Great Britain. Not ranking as exports, but nevertheless directly financed by the Victory Loan 1917, is 446,000 tonnage of ships valued at $70,000,000 which will be completed by the end of this year. These ships Use millions of dollars worth of lumber and steel which again circulates, vast sums among the workers of Canada. Be ready when the call comes to lend your money Issued by Canada's Victory Loan Committee in co-operation with the Minister of Finance of the Dominion of Canada Hennesey&Wilsqn THE ST0REor BIG VA t UES NORTH LETHBRIDGE CAR:; to thc DOOR, PHtJNE 789. ;