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~w. t THUR TI-IUR.ç (COntlnUOd from page 1) and Purniture Factories, thesç are ail wiDed out and the loss was car- ried bY the owners or stockholders ci that time. This can be duplicated in aimost .4everv town and villagfe in Ontario and vet this same Prorress at that time : meant a -gireat deai to the countrv and to our presect strongr financial nosition. Canada must as- sume this gloss. In the vear 1912, at a Cgnadian oMànufactprers' Asiocatioli Convén- tion in Halifax I read a paper, "Our Railways and 'thir Futurç." At that time I was active on their elecutive and Mr., lames E. Walsh, recently anvointed as adviser to the President of this Association prepared the de- tait for me. At that time, private comnanies were everlastingiy after subsidiaries from the Dominion Government and in order to stop the expansion of these unnecessary rail- roads at that time I nroposed a mnergzer of ail Railwav Comp)anies in Canada, leavinz the Canadian Pacific Raiiway as a separate entitv. This of course, was carried out finally dur- ingZ the last Great War under the leadership of Senator Hon. Arthur' Meighen, then Prime Minister. This consolidation saved the court- try, many, manv millions of dolar's, se now we are in a position with the Govevnment owninz the bugre Canad- ian National Railways, to go abhead with the nurchase of the Canadian Pacific Railwav. We have splendidlv trained offic- iais to carry on. It is only -fair te sav that th e Manufacturers' Assocý iation did flt approve of the move, but it was a splendid opportunitv for vubiicity. The article was sent out over the Associated Press wires cov- ering the wbole continent. It was the first public suggestion ever made, ta cotisoliiçate, s0e110W 1 do -not feel that 1 amn out of place in urRinz the Federai Government ownership of this huZe Public Util- ity. After ma;v vears of study and careful following of the operation of the Railway, one- can onlv come to the one conclusion, and this~ , fGov- ernmeht Ownership of Canadian Pacific Railwav is essentiai and then the two roads worked ont under unified contrai, but in order ta do this, we wouid bave to have a «Un- ified Banking Svstem and this is a lonoe stary by itsecf. To mergze tbe two Railwgvs is a gzreat project. As always, the matter of labour and the -unnecessary un- emvioyment that would be created is a point that arlses. This of course would flt be the case, if it were adiusted under a proper working plan, every man on both roads would be ernployed, but employed in a pro- f itable wav. Certain portions of the.Raiiway Unes wouléjiave to be abandoned as Railways 'ri then paved for Iriate motor roads. This would include some main lines as well, as branch liunes of both Raiiways. Under Rail- * wav control the Governrnent would have teoiro into the Bus Business for both Freight and Passengzer on a- larze scale. We will watit btter facilities for bandlingr Canadian busi- ness, therefore, noi one of the rail- Unes as far as we can se.. wouid have to be abandoned to the "weeds" but it is-a lonz prozram and in a short article it is impossible te d-al with ail the multitude of changzes that wouid have te be worked out. In takinK over the Canadian Pac- if ic Raiiwav it would be necessary to pt).v to the vresent sharehoiders a fair vrnce for their holdings, possibiy a nce to be vaid on the average stock market auotatian 'for the nast seven years. While it mavý be ver- fectîs' true that under the' présent wartime adjustments .aofvcchange and repatriations of CuiW . as Sccur- ities that most ai the stock will go 1into the bands af thse Governmcnt anyway, ane must 1)1f& fair with al stockholders. Some of rnsy riends, tell me that this would only be about 15c on the dollar, of the reai value of thse CaniCdian Pacifie Railway. Howeven, where can tbey. turn ta oet more out of theif' holdings? It is a Question of d fair price ta lie adiusted. In speakinz ai taking over thse Can- adiaft Railway, ane oi the problems wili be the matter of the Telegraph because wbiie this is an essential public -service, we have a Govenn- ment Contrai ai aur Radja System, therefore it njght be weli ta negat- iate with thse Bell Telephone Comn- nans' 'ta ±urr over *-the Telegraph Svstem to tbem at a valuatipn to be decided un)on. The Bell Tejephone Corporation is well managed and bas an excellent Dividend Clause in its Charter. Another good.local exaniple of the samne type ai dividend controlled business is thse Toronto Consumers Gas Company. In talcingr the broader view of in- dustry it is impossible, I firmly be- lieve, ta place thse country in a very good independant financial position. We muist always recognize that a "fair wage» ta every mai who works, is. the entire key note ai auir Drosperits'. In former, =%r it bas been Possible by the use ai aur reserves and credit finances ta create a grée many miliionaires and we must recagnizeý that this day is past and that tbe resuits must go ta the average citizen. Organized labour mnust alsa re- cagnize their own limits. Take, for instance the Raiiways. The Firemen and Engineers have iorced thein salaries ta a point away 'beyond the ability to uay, and for the last few years, unfortunatels' these, men while still an the bigber Wage scele have been takinr a tqcmendous liciinz in the small amotin of wor- c available for thein trade. *As far aa -I cati un- derstand thc reaular workmn os n the road are vettinir>,a,:tain -wage but no- thingr like, the excess ai the runjsing tradee. This bhas been anc ai th~e crivpling .factons ai aur wbole rail- wav -svstem an the continent. It is giood businiess'ta prépare at once for thc future, - Thse Federal Govennment is alneady doij* qsa. In aour Deniacritic Svstem ai Govennment we have alwavs bad a frnec appartunits' ta express ourselves ahd regardless ai wbat. "isms"! that are argued and discussed, I thinkwe are beinning ta realize thât in mpans' cases it will be neeessary for the Fédéral Govcrnment ta takee Uic in- itiative. Expeniments have be= car- ied ont ai Government managernept, and I think successinlly,. 5%y i1btIse .matter ai aui Pastal j;SyStei -ad alsa ai the IHydro Electric in'On- taia, lust ta use twa instances. I am ai the fiim conviction~ that the next sten in aur Progress sbould be GoVernment contrai ai ail bgnlc- inr - dtails ai a, plan I would like ta give a little laten. Once the ,Credit situation is clearcd, we can then go on and take aven tIse Can- adian Pacific Railway. Mn. McCullazh ai -the Globe'and Mail, in bis broadcasts, refers ta these subiects and also stresses the necessitv for vounger men in pojitics and ta have wonien more actively interested in thse ai fa»s of the coun- trv to helIn dean un the terrible Patronage System afi bath parties wbich we bave developed in Canada and I firmîsY believe the time to du this is wben the zeneral Public are stired ut) bs this war. That is why, Mn. 'Editar, I am orepared ta, ex- Press myself. I was in a position ta judge oai the bugze diffi iulties, ait.* situatian aften thse fi mt Great Wfirwben. I was a nitmber ai Uic Canadian Trade Commission at Ottawa,,ad I franc-, ly, can sec no more hope lfrr su- cess naw with private capital for development than was the eucaefl- lowing the First Great War. Thtre' fore, it deems inévitable, that we must ask the Féderal Govrrnment to make the first move in tic large matters ai Banking, *M)arketing, Fishinig, Mining, Grain and Qil . 1 AUl ai the above I would place unden the beading ai "Caput Fin, ance."' In thse matten aifRilroads, Trans- portation, Shippingz and Telegraph, these are public utilities and msust be awned and operated by tIse Gav- ertiment ion thse benefit ai tIse gen- eral public. Thse situation in Canada is that we must inevitabîs' build mare ships ta carry on tIse expont trade ai the WUr mTime Problems atid I*ntruftotj@n Afterwards and Queen wbo are very much be~- loved by the whole nation. Canadian Banks - Canada can have n0 complaint of the managzement of aur Banking System,. but a move was made to concentrate this business wbhen the "Bank of Canada Act" was passed by Parliament.ý It was consiclered at the time of the creation 'of the Bank of Canada that the pnestnt system had outgrown itself and couid better l* admi'nlstered £rom a central point auld with a war on this becomes more and mort true. In the' mean- time, we have developed a great Armv of grood Banicers - but the fear bas always been in making sucb a - change, we might get it into Dolitics. This could be overcome bv the appointment of sayr the Generai Managers of the present Banks aloniz with one representative of the ver- manent staff of the Government (Financial Department) and the Minister of Finance to compose the original board. The gzreat point wil be to arrange for the reappointment of f urther members wben changes becdIme necessary on this Board, witbout political interference, but 1 think this can be worked ont. Political interference suchi as in practice now with Canadian National Railway, will kili; anv effort as is outlitied here. To develop a plan of appointments would require a sep- is very vital to any and every in- arate article. duStry, possibly 3% to tbe public. The great obiect of concentration1 will be to have a stronz financial Ca board always to advise tIhe Governi- About 1920 1 made a trip through ment. tUe West to investigate thse possibil- To some extent, this was carried iies of Canadian Coal. I think the ont duringr the First Great War when report of this trip was piaced with the Government concentrated pretty the Canada Railwav Board. well on the Bank of Montreal to doi After caneful examination it was its business. 0f course with the Bank datitiiated that British Columbia con- of Canada this necessity bas been tallied about 121% of the world's eiiminated. While there would be a siiPIY of coal (it is now seid to be great savingr in the administration of IN - ef ound a mine there with a Bank, doinig wav with ail the var- thé very best of Steamn Coal, Canai ious Boards of Directors and other asW Domestic Coal, that wotild last ornaments there should be. no nec- Calsada for 1500 vears. The late essity f or any great upheaval in the Séïlator Fat Burns owned this par- empovment.. ticular mine and two Scotch Engin- A Government Bank would have ecra were taken tihrougb the mine to give better service, but a great witbi us and tIses gave these figures amount of building wbich bas been aiter estimation. done bv tIse. various large banks Ia referenc e to coal, transporta- durinq recent years will be stopped, tion was the great problem and I en- as for instance, the Bank of Com- ouired wbetber it would be possible merce, Toronto, is very iargely an to shiin via car-ferry across Lake Office Building and flot tIse business SutPerior and thes' azreed that it was of a bank. ouite feasible. One of the prime obiects is ta get . * * * the rate of interest at a point wbere Iran business can thrive. Ia this connectian they advised me It is no wonder we have had agi- that the world's f irst grade mron ore tation after agitation from the West, was running îlow but that on tIse protesting amainst Interest Chargqes. east side of Hudson's Bav in. the This is wbat bas* produced the Ungzava District there were buge "Aberhart's" in poiitics. amounts of the vers' finest ore and Bankinz is the foundation of evers' it was in confection witb tIse trans- country, wbile greatest care shouid portation that tIsey' were figuring an be excrcised in the way of credits this tvve af sbipment. in anv changes pianned. Clieap) monev This is an enterprise that would be too. vast for anything olher than business co-operation between the British and Canadian Covernment, but the mave should be f rom Canada. One other gneat world's control that we should have is in thse mat- ter of radium. We have allowed one smnall compatis to attemvt to develop What sbould become one of the ereatest industries of tIse day. We use radium in one form and I am toîd that it can be broken up into two other fonms, one which could be a condensed form of power. In oroposinxz Governme.uit Owyner- ship) and Operation of Public Utilit- ies and Caput Finance, tIse reatest care sbould be taken flot to discour- aire private capital in new enterprises Individuai deveiopment in a country like Canada is essenfial to financial success, but there are certain devel- opments as for instance during a war, it wili be admitted that the Gold Mine Industrv in so far as protecting is concerned, wili fali rather flat and this is one place svbere a gaovernment sIsould izet busy and keep) uncovering wbatever gald prospects we have, and as a matter of fact, I think as a Country we ýhould own some of these arfat pro- ducers. Russia bas done a manvel in de- veloping her production of groid and when natural resources are sa vast as in Canada thse people should Ret some direct resuits from this type of develovment, wartime is the time to do it. We, of course, will alwavs respect private ownership in 'enterprises, but still with a -future ahead of us in a cbaotic world we wiil have to spend a oreat deai of money to protect aur- selves, particularly in the formn of the Navy and Air Force. This mlust be naid for, so one advocates the use of some of our resources to pay for it. Fedel icivil Service The izreatest change that one notices in Ottawa, is the remgrkable imp)rovement in the Civil Service. It atuiears not that there is harmony between the various departments, which was not the case duriniz the last war and aftenwards. The Gov- ernrnents have made strenuous ef- forts to briniz this about and I amn R-lad to sav thev have been surçess- fuI. It now makes for a permanent Civil Service which wiil f unction to irreat advantage for the countrv. That has ail been demonstrated silice this war beizan and wili be a s'iien- did factor in the deveiopmtiit of anv hune in "Canut Finance" anîd also in the demonstration of Government- owned Utilities. ,Literary style is a great thing until it begins to obscure, mean- ing and affect accuracy. Then it becomes a nuisance. - Detroit Free Press. th,$ year and aur v«eople enrall, now realize that we have a Kinr MDAY, NOVEMBER 2ND, 1939 Do YguKno Why Yom are Cansliated? Some daysarn'tyou dlgstie wýlth eveZth.8do . oufeel worn out odpreadwarbe aueof ;yur cnsition eh not look for the roi cause of your ailment? Viohav me uou reslatolyr Bread ineat, otatoee? Ini that case 9on't look an y f urther. You Erobsbly mRer f romt lack of *bug&lr" And "Bulk" doesn't menqatty, but the kind of food tiat Is lnot cmpatlyasi milated and Ileve a solft'mass" In the bowels that helps the bowela move. If your diet lacks "bulk". the solution la a bowl of 1Keliogg'a crisp Ail-Bran for breakfast every day.it contains the necessary "bl"and V'itarnln Bi.* the naturai Intestinal tonlc. Eat some Ail-Bran every day, drink lots of water and becoma "ragular." Made lInLondon, Canada, by Kellogg. At ail gro- cars. Twelve swastikas have been discovered in the tile design on the floor of the post office at Sin- coe, Ont., and the citizens are wondering how they got there. At least they are where they can be walked on. - Montreal Ga- zette. 45 THE CANADIAN STATESMAN, BOWMANVILLE, ONTARIO PAGE THREE