Internet Payments

Secure & Reliable

Your data is encrypted and secure with us.
VeraSafe Security Seal

Lethbridge Herald Newspaper Archives

- Page 9

Join us for 7 days to view your results

Enter your details to get started

or Login

What will you discover?

  • 108,666,265 Obituaries
  • 86,129,063 Archives
  • Birth & Marriages
  • Arrests & legal notices
  • And so much more
Issue Date:
Pages Available: 24

Search All United States newspapers

Research your ancestors and family tree, historical events, famous people and so much more!

Browse U.S. Newspaper Archives

Select the state you are looking for from the map or the list below

OCR Text

Lethbridge Herald (Newspaper) - October 18, 1918, Lethbridge, Alberta 2 RTDAY, OCTOBER 18. 1918 THE LETHBRIDGE DAILY HERALD PAGE NINE What Victory Loans to By E. R. WOOD Chrtrmnnttomlnlon txecutive, VIctoryi t.o�n> .1918 One year.liBselapBetl alnce we pro-pared to subscribe the first Victory Loan (jth'loan)v Issued,- In November, 191T. - We then realized clearly,,and for the first .time, that Great Brltalii had fetttihed tho point at �which she .was fcompelled to borrow ;funds In.the countries In which she la making her war purchases. This was, and-fej an extremely Important oonRldorivtlon.fot Canada, because our activities, ^iwosporjty iued ih e�nnection-mth Vvtcide will domuoli toT.-ard( obtaining ttio dcaired reault. iM , Sand lOo In (tampi or coin for a ji I senaroiM MunpU of HERPICIOG. ^ 3 Company, DHreit, U. S. A. , I 1 Made in Tlio U. S. ' " P i�'THE HERPIOIDE CO , Dclroii j. d .higinbothAm 4,co; ^.^ r SPECIAL AGENT HENNESEY&WlLSiil THE STOREbi^BIG VAtuls NORTH I^EtHBRIDGE CflRj TO THC DOOR, PHOME 7d9. plete success of our 1918 Votory Loan can we continue to finance our requirements and. carry on generally in the ,way/we have during the Pasf , weven months. Gave Nflw Leases of Life to Dominion The remarkable over-subscription ot the 1917 Victory Loan completely changed tho uncertairt outlook which prevailed when the Loan was offered to the public. It gave a new irapefus to agriculture, commerce and prosperity. It invigorated our efforts ipj the war. ,lt allowed, as already stated, our Provincial OoVernmentB, municipal and other borrowers to flnniice their requirements at home. In short, It gave another lease ot lite' to the activities of the Dominion. A Boon to Canadian Farmers "For the farmer, the Loan was able to finance the only purchaser who cotild buy his excess products, namely. Great Britain. In the fiscal year 1915, our farmers exported annual produce and agi'icultural products valued at $209,000,000. For the fiscal year ended 3l8t March 1918, they exported no less than $740,000,000 worth of their output, the largest agricultural exports from this country, on record. Manufacture Prospered by It. POT tho manufacturer the Victory Loan continued to give the best export market he had ever possessed. Canadian manufacturers during the fiscal' year ended .3lBt March, ' 1915, exported $85,000,000 worth of merchandise. That period Included? nearly eight months ot war. For the twelve months ended March 1918, they have exported over ?6S6,000,000 worth ot merchandise, an increase In three years ot $551,000,000 or 648 per cent. It is interesting to note in con>iection with these exports that since the Loan was raised, approximately $20,-OpO,000 per month have been advanced to- the Imperial Munitions Board at I'Ottawa for the purchases ot Great Britain In this country. There have also been expended approximately $20,000,000 a month for other H'ar purposes in Canada, including large purchases of farm products. This Is a monthly total of $40,000,000 or, during the seven months from December 1917 to June 1918, a sum ot $280,000,-000. While the entire farming commun ity has shared in the war orders, all the manufacturers, naturally enough, Tlave not been benefitted directly. Rven so, contracts have been given to 950 manutactuxers and In July, 1S18, 400 manufacturere were in actual contract relations with the Imperial Munitions Board at Ottawa. Up to June 1918, our ma,nufacturers have produced over 60,000,000 shells, 20,000,000 fuses, 74,000,000 lbs. of powder and 50,000,000 lbs. ot high explosives. Of the 1,650,000 tons ot steel used in our war work, 1,400,000 tons were produced in.Canada. Contracts have been let In Canadian shipyards-for 90 steamships with an aggrggat.e , dead weight tonnage of 375,000 tons'. These orders have a valde of $71,000,000. National war plants have been established at a cost of $15,000,000 in Montreal, Renfrew, Trenton, Toronto and'Parry Sound, where powder and high eiplbsives are made, fuses loaded and foi-gings produced and aeroplanes built. � These plants have been given their contracts l;y the Board at the same prices and on similar terms as the independent makers ot munitions and they have already amortized their cost to the extent of $10,000,000. Large quantities, of fir and spruce are being purchased by the Imperial Munitions Board In British Columbia for aeroplanes. The Board now has 67 logging camps in operation. Made Possible Big U.S. Qrdnrs As a collateral advantage to Canada, by reason ot the development of capaoitT \o manufacture in a large way, the United States have found i1 to their advantage to place orders toi the production ot munitions in Canada to an important extent; the United States supplies all the raw materials, Qanatfa supplying the labor and' experience. The benefit of this to the United States, as well as to Canada, will be understood from the fact that th^ 75 millimetre shell, which is the size for which the largest number of orders have been placed, both in the United States and Canada, were produced in Canada last month in a quantity in excess of the total production In the United States. The production of this size shell in Canada now on account of the United States Government is 255,000 per week and. is steadily increasing. As a further evidence ot the interest of the United States In the developed capacity ot Canada, representatives of the marine section of tile Imperial ;Munltions Board Were asked fo attend a,conference called by the Emergency Fleet Corporation of the United States in Philadelphia on the 21st June,"for the purpose ot ascertaining what a.sslstance Canada could give to them in the production of marine engines and njarine supplies. Already large orders jiave. been placed in Canada tor marine castings and winches, and general suppliee for the shipbuilding prograitn In the United States. Of course, I,t Is obvious that this business from the"- United States will have a marked effect upon the e.xchange situation, as the money: is practical'.y i'^U for wages, as tho material ;s pi'actic-yBlly all from the United States. Labor Demand Maintained The success of the Victory Loan Insured a continued demand for all kinds of .skilled and unskilled labor. Higj) waeas have been received and hav4 helped to cope -with the Increased cost" of living resulting frbm the ef-feot�;pf-'W?ar for a long period. Agricultural; factory and other labor have earned good wagos, giving a margin fo). quving. Tire placing-of �$400,000,00 by the subBcril)6:-s to tlie Victory Loan, in the hands of the Government, enabled the authorities to continue lo finance the basis of our prosperity, namely, war orders from the United Kingdom, It assisted them also, to a marked degree. In seeing that Canada does its full part to suppoit our troops at thp front, to help feed the Allies, and to bring the war to a successful conclusion as. speedily as fiosslble. The flotation of the Victory Loan, in short, has kept In motion and in ^oo(f running order the complex, economic machinery of the country. N�W Lean Must Be Over-Subscribed ' Now with, regard to Canada's 191S Victory Loan, it is JmpGrative that It should be we'll-'over-siibsr-rlbed and even more Snccessfut 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 cannot obtain those funds unless the national activities are maintained at high pressure; and thirdly, because that end cannot be accomplished unless we finance the national activities which have such a vital bearing on the Internationa! situation and the conclusion of the "war. It would be a disastrous error were we to bo lulled,, because of our prosperity. Into a misunderstanding of tho real situation. It cannot b(; emphaHii!-Od too frequently that the s.-ifely of our national strucl'ure and our participation in the war, depend cntii-oly upon the results of the 1918 Viftnry I.oafl. Our Prosperity Depends on It Our prosperity during hto piiht year was a direct result of the respoiiKn to tho loan Issued last falJ. The continuance' of our prosperity (luring the coming year will depend upon tho degree of success achioverl by ' tlie Victory Loan,of 1918. Unlcas we do even better than-a year ago, wc will jeopardize the prevailing prosiicrous conditions and activiticR which, in turn, allow us to partlclpaln freely in the conduct of the war. There is not a legitimate reason why on this occasion we cannot better the I results ot the previous Lo.iii. We have done well In the past, buih in the aggregate and per capita. At the same time, we realize that our position In Canada is a fortunate one, compared with that in European countries which are in the immediate zone of war. No one can reasonaljly contend that we-have yet achieved the best possible results in regard In the raising ot War Loans. ,Tho evidence of better latent efCorts arc apparent on GASLESSSONDAYS ARE CANGELLEO Washington, Oct. 17.-Fuel AdminiR-j trator Garfield announcort today that | it would not be necessary to enforcoi gasoline-ltjas Sundays after this WRok.| Canada Follows Suit. I Ottawa, Oct. 17,-Althou.-rh no om-| cial announcement baa yet been made on the subject, it ia considered likely that, following the'load of the Onited States fuel administrator, the ban on the use of gasoline on Sundry -.vill be removed at the end of tins week. - ... 1 every hand. It remains only to organ-{ Izo and give effect to them. For ox-�ample, white the total bank deposits in Canada on 30th --November 1917 wore $l,.5't7,000. they had decreased to only $1,541,083.788, on the 31st of July 191S a comparatively trifling decline of under $6,000,000, while the I depdtiits in Canada at' 31st .Mly 1918 are $160,000,000, greater than "Ist July 1917. This excellt-nt record was achieved despite the subscripilon of the 1917 Victory Loan of $416,000,000 despite the absorption of $50,000,000 ot those bondti sold by holders during the year, who desired to realize, and despite the purchase by our investors of $60,000,000, provincial and municipal bonds. Tho.se are substantial ind.'.oa-tlons of Canada's ability to subscribe another large Victory Loan, because the national activities allowing the nation to malte such a record as outlined above, havr? continued in a marked degree, making It possible to repeat and bolter tho 1917 Victory Loan and general record of the coim-try. We Must Finance Britisii Purchases. Great Britain having borne a tremendous burden ot war tor four years cannot be expected to finance her war purchases in this country. The United States is perfecting a vast w.'i.r machine, tier finaiK-ial resources are required for that purpose and to place credits at thfi dispo.sfll of the Allies. It is necessary, therefore, that Canada .should rai.sc the funds required, not only to carry on our normal and war activities, but also to advance substantial sums to Great Britain for her purchases here. � Willie in the United States, the people iiavc been asked to subscribe a Liberty Loan evfery few months, we, in Canada, have not been asked to subscribe a war loan since November 1917, and will not bo called upon to do so until 1918. This is an enormous advantase in every way. The long respite from War hoan victories, has enabled the 1917 Victory Loan to be splendidly nb.sorbed and distributed, has in addition created a healthy market for provincial and municipal bonds, and has allowed business generally to proceed without the temporary halt which war loan issues always bring. Furthermore, it i.s not too much to say that the mainteu-mce of the marliet price of the 1917 Vic-rory Loan at the issue price and the recent ariviiuco in the issue price constitute a record in war finance. If satisfactory results arc achieved with Canada's 1918 Victory Loan, the funds raised thereby will supply our needs for another year. That is an additional reason why every effort should be made to make the Loan an unqualified success. warn What last 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-it was circulated-it became the working capital of the nation. \. IT financed millions of dollars worth of munitions for . Great Britain throughiwhich great sums of money were passed along to 'the"WOflEeFs 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 of workers in the cities. It financed the export of millions o� dollars worth of copper, lead and zinc and that again gave employment to an army of miners and metal workers all over Canada. It financed the building of 112 steel and wooden ships in the Maritime Provinces, Quebec, Ontario and British Columbia through which many more millions were passed along to the artizahs, miners, steel workers and lumbermen of Canada. It financed the purchase of hundreds of millions of dollars worth of foodstuffs as a result of which the money passed along to the farmers all over Canada. And the farmers and theworkersof Canada deposited their-savings in the banks and thee banks in turn loaned it to more producers who circulated it again and yet again, until every individual in Canada felt the benefit. -f THE money from the Victory Loan, like any other working capital, was "turned over" several times. It kept working, over and over again, until it built up a tremendous commerce-it developed the greatest export trade Canada ever had, greater by several times, than the amount of the loan itself. . And this trade furnished the market for Canada's products of the field, the mine, the forest and the shop. Thus was Canada's prosperity, upon which her war efficiency depends, kept at a high level. And by reason of this prosperity, Canada has maintained and equipped an army Of over 400,000 men-an army which has brought glory to Canada by its courage and prowess in the field, and by its heroic spirit of sacrifice. So when Canada asks us to lend our money to carry on we have an opportunity to contribute again to the nation's prosperityjmd to the fighting efficiency of her noble sons on the battle line. How Canada's Exports have Grown What Canada's war activities and financing have actually achieved for the nation's export business may be seen at a glance by comparing certain items for the year ending March 31st, 1918,,with the average " volume of trade in the same items for three years previous to the war. From the FMrma: tCT-i?' Dairy............. $21,004,803 $40,175,270 Grain.............. 87,061,983 403,f)85;8.5S JJour.............. 18,861,944 95,896,492 Meat.............. (),I46,.554 76,729,060 Vegetables.......... 1,205,709 19,034,528 From the Mines: Iron and Steel (1914 ^ only)....'........ 11,374,981 45,810,367 Copper, Nickel, Zinc, andAluminum.... ir),323,513 46,271,848 From the Ixtdastrjes : Munitions..................... 450,000,000 Leather............ 2,162,662 10,986,281" Clothing........... 337.047 "^9,702.207 Vehicles............ 2,871,163 22,776,590 From the Forests: Pulp and Paper...... 12,446,523  59,599,339 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 leet of aeroplane spruce timber averaging over $20 per thousand i. contracted for in British Columbia as the resultof Canada's financis^l assistance to Great Britain. Not rankingf as exports, but nevertheless directly financed by the Victory Loan 1917, is 446,000 tonnage of ships valued at $70,000,00p 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 coi to lend your money Issued by Canada's Victory Loan Committee in co-operaition with the Minister of Finance of the Dominion of Canada ;