The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

_ Canadian Pacific As a part of the British Commonâ€" wealth ‘of Nations, we find strength and inspiration. In our position on this continent and in our friendship with the United States, we enjoy a good forâ€" tune that we can appreciate only by reflection upon the anguish and disâ€" tress and horror that are the daily A £ | q;éql‘ Assets On the asset side for Canada we find democratic forms of government still triumphant. Neither Fascism, Naziism, nor Communism has prevailed to upset our fundamental heritage of free inâ€" stitutions. Freedom of speech, freedom of the press, and freedom to worship God are still the general orderâ€"lreasâ€" ured legacies that we should not permit to be imperilled. terial resources, but also also in the spiritual temper of her people, and it seems opportune that we should take stock of our debits along these lines, and try to see . ju;t. whexe our national balance stands. A Nalional Balance Sheet In corporate: affairs, ,this is generâ€" ally a morth of financial statements where assets and ligbilities are set forth and a surplus or a deficit shown. The record of this company has been so presented toâ€"day. Our General Manaâ€" ger Mr. Kilgour‘s analysis and remarks have indicated reasons for pride in the achievements that members of this mutual Company ,working together, have made. He has referred to thc part played by ‘olir assets and those jf other life assurance companies in the economic life of ‘this Country:." ing that thought further,, I should like at this steason of stock taking and acâ€" count balancing to consider with you for a few moments a national balance sheet. Canada‘s assets and liabilities lie not only in ‘her physical and maâ€" ago? One hesitates to think so. I beâ€" lieve that the spirit of unity still runs deep among us, but the evidences of increasing provincialism that are heard in Ontario and Quebec, that disturb British Columbia, and that have not been without expression on the Prairies or in the Atlantic Provinces, are to be deplored. In the way of mankind, unâ€" rest and discontent have sometimes led to beneficial ‘reforms, but in the claims and counter claims of provinâ€" clal rights and ~provincial autonomies there would appear to be little or nm element of national constructiveness, but only a tendency to dismember and destroy. ; P _A R _A D 0 L apparent for many months? ‘Unity in Canada. Our strength within the Dominion, our strength within the Empire. our strength in the large sphere of world affairs can be no greater thar the deâ€" gree of unity that inspires us in the direction anad in the administration of our own undertakings. Is ourâ€"conâ€" ception ‘uf national unity: and is our conviction of national purpose less toâ€" day than the conception and conviction that fired Macdonald and Brown and Cartier and Tupper and Howe and â€"the fathers Oof Conâ€" federation at Charlottetown 72 years T With aches and pains and fover _ _are quickly relieved by Paradol. Temperature is reducedâ€"you soon feel fine. _ No disagreeablo afier effects or digestive disturbance. 35 cents, Whattever the coming year may hold for all of us in the way of betier busiâ€" ‘ness and m:rerial prosperity, we enter 1t with the knowledge that it will be a Royal Year, year of Imperiai and international significance. The comâ€" ing visit of their Majesties !> Canaca is the sovereign expressiou of the imâ€" perial unity that. binds us to the Lriâ€" tish Commonwealth of Nations,. 1s it too much to hope that ail Canada in this Royal Yeal~â€"may reflec; a better spirit of national unity than has been in ut ‘ance during these past most difficult * N NOR e _ VRATAL _ GAAMLAUAA * years of unexampled unemployca and depressed conditions. Those directing our important indusâ€" tries and businesses have also sufferâ€" ed, but through it all there has been among employers a regard and a wonâ€" sideration for the welfare of employees which augurs well for the future. Sound Institutions Our mone‘ary system has proved one of the soundéest in the world. our banks have been more than equal to unparalleled strain. Not one during we Co. at Toronto! es tly, the preddent Mr. T. in very effecâ€" tive way on Canatfis prospects for the present ybar. Mr. Bxydshaw s address in part was as follows: *Slecping car fares extra ‘* _ _ "fare more favoured tihig. most natioas, Head of: Blg Insurance Co. | and in To in tare whn br oo whenp :,_.._,these w ys gone so wisely ?mty and Pro carefully legislated for us. gress: ‘¢=~â€" | Capital and Labour FARE $ TIMMINS, ONT. In Canada‘s Evergreen Playground RE T U R N FEnjoy Smumer Activities ALL WINTER recent annual movoring, yachting, riding . . . enjoy majestic mountain sceneryâ€"see snowâ€" clad Canadian Rockies en route. SpecialÂ¥/inter rates at hotels. Attracâ€" tive rail fares now in effect and until May 14. Return limit: Standard, 3 months; Tourist and Coach, 6 months, Stopovers allowed at intermediate points Pss We ts stt ce in td @A44 during January, February and March Attractive Fares And Train Services TO PACIFIC CoAST ! Indulge in your favorite Summer sport â€"All Winterâ€"in the balmy, invigorâ€" l\“-‘- o WA 2 c o am WINTER GOLF TOURNAMENT Victoria â€" March 6â€"11, 1939 The decline in recent years in the construction industry which, on acâ€" count of it ramifications in many cther industries, is chiefly responsible for our large unemployment, still persists deâ€" spite government efforts at stimulation, but in this important business indicaâ€" ? the government quarantee of .80c¢c per bushel for prairie wheat No. 1 Northâ€" ern at Fort William gave protection to the industry and stimulated western purchasing power to the benefit of Canadian business in general. Conditions in other primary and secâ€" ondary .industries could be similarly detailed. Newsprint has had a diffiâ€" cult year, While volume was down 30%, owing to increase in price the value of the year‘s production declined only 15% compared with that in 1937; Output in other branches of forest inâ€" dustries was lower to about the same extent, but all signs point to subâ€" santial improvement in 1939 In agriculture, we are fortunate in having vast acres of exceedingly proâ€" ductive soil and good marketing faciliâ€" ties. While the estimated cash value of all field crops in the Dominion in 1938 was less than in 1937 owing to reâ€" ducedd prices, the volume was subâ€" stantially greated.. The Western wheat crop was double that of 1937, and while world prices were disappointingly low, and in our great inland waters, the predictions are that cash returns for 1938 will exceed those of 1937, and the 1937 total brought fishermen . more money for their landmgs than auy year since 1930. In the fishing industry, which" goxi- stitutes one of Canada‘s great assets in the Atlantic‘as well gs the Pacific eral wealth is nation wxdeâ€"there is not a province that does not produce some minerals,. in commercial quantitiese is being steadily extended, the latest being raâ€" dium, tellurium and antimony. One of the most valuable facts is that our minâ€" We are only beginning to enter upon our mineral heritage. In 1938, despite declining metal prices at the first of the year, the total value of our minerâ€" al output is not likely to be far short of that of 1937 when it amounted to $457 millions. Gold production will reach record high, and greater encourageâ€" ment is still to be found in the fact that not only are new deposits of exâ€" isting minfrals being recorded but the list of minerals that can be produced This great business of life insurance that you nd I are concerned with here has met every policy obligation and paid every claim promptly and in full. I could extend the record, and in exâ€" tending it I believe I would continue to carry your judgment that much of the criticism directed in recent years against those in responsible places has been thoughtless and illâ€"deserved. Never in my experience has attention been centred less upon profits and more upon the amelioration of distress and the improvement of human relations. Production Industries | In the matter of material assets, there is no need to dwell upin the tremendous wealth of our mineral resources that have been revealed withâ€" in the last decade, nor to more than touch upon our fisheries and our forâ€" ests, our granaries or waterpowers. | tihese crucial years has failed or neâ€" glected to fuifil promptly its obligaâ€" tions. ‘Our mortgage loan and trust companies have an equally good record, and have continued to give a service to their clients which is praiseworthy. pital and Labour | â€" We are faced with difficult problems of einployment, but our labour disputes in this country have been free fromg mesm that breed hatred and nurture : class distinctions. We cannot but have the greatest admiration :‘»»r our workâ€" $ ing men and women, and for .their reâ€" straint, thair courage and their endurâ€" / ance during these past most difficult years of unexampled unemployca and depressed conditions. | our regard and respect for iaw, and in of Canada‘s in the Canadian rail in effect Aiver touchning on rallways, defence tion. From the British and French who pioneered this country and who dominate its racial characteristics, we | have â€" found resourcefulness, courage, independence and fortitude. To reâ€" create these quaiities, we need first to give our ‘own peopleâ€"thousands © of whom are unemployedâ€"a security of ‘income and opportunity. That is our immediate problem. After than immiâ€" gration should be selected and controllâ€" ed so that the fundamental character of our people and of our institutions will be preserved. In this way nativs inâ€". dustry and agricu\ure will not b> too | disturbed as the newcomers who arc ; absorbed into our urban and rural life are given opportunity for employment or productive land for tillage. ' Butâ€" we must exercise care in the methods to b_uild up our populaâ€" tained nor fully enjoyed excebt by much larger group of people than a now nv'mg in Canada. ie nsc th : ud our vast territory, ‘jur tremendous naâ€" tural resources, our elaborate governâ€" ment services,. our over expanded railâ€" way plant and our ambitious industrial setâ€"up cannot be economically mainâ€" Larger Population Necded Let us now look at some of our pa- bilities. We have gone into debt to build plants and equipment capable of supporting almost double our present population. We nced to grow to the stature that our present overâ€"expanâ€" sion demands. We have Jjust over eleven million people and we slrould have twenty millions or more, . Our total direct Domminion debt cexcluding a debt of a billion dollars guaranteed by the Dominion) is over three and a half billion dollars. It was about $500 rhillions in 1514â€"or only oneâ€"seventh of the present figure: a per capita liability then of $69 as against $326 now. In the fields of and municipal finance, per capita liabilitiecs tell much the same story of overâ€"development. our vast territory, ‘ur tremendous naâ€" tural resources, our elaborate governâ€" the psaks and depressions of employâ€" ment can be levelled out, oven if at greater cost to producer and to conâ€" Nothing destroys morale nyore than enforced idleness when active mind and vigorous body crave steady employment. V As Canada progressed under Imperial preference a generation ago, and prosâ€" pered again under the Ottawa trade agreement, so both domestic and exâ€" .port. business will accelerated by the successful conclusion of, tThe triâ€" cornered trade negotiations between the United Kingdom, the United States and Canada. Only time, of course, can determine precisely what benefits this country will secure from the treaty with the United States, but there seems certainty of improved conditions~ for cur farmers, fishermen and lumbermsn, both as producers and consumers, and this improvement should be reflected in business in general. Climate Some may regard our climate as a liability, but with them I would disâ€" agree.. The natural rigor of our northâ€" ern latitudes developes a ruggedness and a hardihood and an individualness that are primary assets in our people, although the resulting seasonal charâ€" acter of so many of our occupations places a definite responsibility on inâ€"| dustry to so govern its operations that! Commercial The physical volur > of business in Canada for the frs; eleven months of last year averg>d only 9.2 per cent. lower than the corresponding period in 1937, whereas in the United States the decline was about 25. Tiie reâ€" markable fact for Canada is that, for the first time in her history, she has had the economic strength and buocyâ€" ancy to resist to a smpnsmg desgres the economic depression of her nearsst and most formidable competitor. Trade Position In the face of such signal evidence of the strength of ‘jur economic fabric, we are surely justified in the absence of some major happening in lookins forward .with reasonable optimism tc 1939. tions of improvement now seemn deâ€" finite. For the first time in Canadian aviatmn history, woives were carried as paying passengers when Trainer LaFlamme brought his team from Gogama to Sudbury on the first lap of an exhibition tour which will taks him to Montreal, Boston and New York. "Wolves are the most contrary creatures on earth," observed Joe Laflamme, here grasping one of his pack on the airplane‘s arrival. t is a further asset of incalcuable value in our leaders and teachers of reiigion, and of our schools and universities. Without them and wlflwut the "spirit which they impa.rt of Canada‘s Their ability and knowledge provide continuity of action and policy under successive governments, and they deâ€" serve our warmest approbation. There More than this, the responsibility is | on you individually to make your voices heard in the constituencies, to exercise your influence in the affairs of the parâ€" ish and the province and the state. In a democracy it is the will of the maâ€" jority that should prevail, and if you who represent‘ the best of our citizenâ€" ship persist in apathetic acceptance ‘of extreme measures promoted by aggresâ€" sive minorities, it is your fault if our elected representatives fail to interpret public opinion correctly. . ‘ Some Further Assets . In striking a balance between our assets and our liabilities, no credit has | been given fjor the maintenance through these difficult years of the naâ€" tion‘s very high and sound credit posiâ€" tion; for the progress in our social services; for the advancement in scienâ€" tific and industrial research; for our unsurpassed educational facilities and for our high standard ‘of living. Many further assets might be ecnumerated in this connection; for instance, those conscientious civil servants, men and women in the: federal, provincial and municipal arena, who administer their every day work in such a way that the affairs of all of ‘our governments are carried out with an efficiency and reâ€" gularity that greatly add to our comâ€" mrt, our . splety and our wel‘â€"being. ! â€" _As savings bank depositors you own over one and oneâ€"half billion dollars. fAs life insurance policyholders you have created life insurance estates of seven billion dollars, behind which stand over two billions of life insurance invested in Canada, from which are paid out yearly one hundred and fifty million dollars in benefits to. policyholders and beneficiaries. â€"These savings, this life insurance, are nationâ€" al assets of the first magnitude, and there is upon all legislators and upon . all who have concern for the national welfare a heavy responsibility to proâ€" tect the interests of the thrifty, indusâ€" trious men and women who are the backbone, the seed grain of this counâ€" try._. There is upon you and over four milâ€" lion ‘vther savings bank depositors, upâ€" on you and three and a half million other lilfe insurance policyholders, upon you and ~millions of other Cangddian men and women who have governed their affairs with regard for their deâ€" pendents and for their own retiring years, a clear responsibility to correct this apathy and to give to public quesâ€" tions that care and attention that you give to your private undertakings, The need for ecconomy in any proâ€" posed public works programme must be kept closely in mind. "How far can taxation . go?",is already a burning question, and the concern of the people over the expenditures of federal, proâ€" vincial and municipal administrations is becoming more acute. If the burden of taxation becomes so great that it discourages initiative and penalizes inâ€" dividual thrift and corporat esuccess., we stand to lose something fundamental to our birthright. Employment Measures Aside from defence, government measures are expected to lighten the burden of relief through the provision ‘ of employment. Every dollar that can profitably be spent in providing work i to conserve or develop our gréat human and natural resources is to our adâ€" !vantage We cannot too soon clean our body politic from the poison of direct relief that for years has sapped individual initiative and undermined. individual morale. The continuance of unemployment is one of our most traâ€" gic liabil‘ies, and I am not one who believes it can be magically wiped out. nor yet that governments, alone can handle it, The wisest form of public policy is that which gives the greatest encouragement to reâ€"employment by private enterprise rather than through government. Followmg this policy it is the intention of the Company to contmue mak- «11 mg xeductlons from time to time as conditions warrant. . _ 3 EP We cannot but look to Canada‘s fuâ€" ture with confidence because everyâ€" g where about us is evidence that Canâ€" aca‘s people are still stirred by the pionâ€" eering spirit ‘)f our ancestors, who set their feet in difficult paths and proâ€" gressed toward their goal in spite of all ‘deterrents. Perhaps owing to the vast reaches of our country and the ruggedness of our climate, we as a people seem to accept the most chalâ€" lenging | situations and calmly and quietly work our way out. Toâ€"day we are being challenged as no generation has been challenged before by problems both within and beyond the confines of our own country, but I am confident that we are capable of facing our proâ€" blems with a spirit of: integrity andi zeal and understanding, and working together toward their solution. 1 Sudbury Star: It may be true that in an island paradise of the Caribbean you can get the makings of a quart of cocktails for a quarter and an orchid for a nicke}, but what of that? A felâ€" low cannot ask a girl to step out a couple of thousand miles for a date, can he? y 1,000 H.P. ..........$ 8,000 per month 11,000 H.P. ........ $31,250 per month 2,000 " .,........$ 6,000 per month 12,000 . >;:...... $32,500 per month 35000 "~ :....... $ 9,000 per month 13,000 " _ ........$33,750 per month 4,000 *" _ ......... $12,000 per month 14,000 * . ........$85,000 per month 5000 *‘ : ... $15,000 per month â€"â€" 15,000 " ........$36,250 per month 6,000 " ......... $13,000 per month 16,000 " ........$37,500 per month 7,000 " â€"........., $21,000 per month 17,000 â€"" _ ........$88,750 per month " $24,000 per month 18,000 " â€" per month 9,000 " ..........$27,000 .per month 19,000 â€" â€"........ $41,250 per month 10,000 " $30,000 per month 20,000 " ... $42,500 per ntenth and in proportion for intermediate amounts. « : As these are monthly costs, the yearly cost, based on yearly peak, and on our past experience with the majority of customers, would be approximately 10% less than the above figures multiplied by twelve. â€" â€" â€" _ _ _ _Let us remember that "the race is not to the swift, nor the battle to the strong, nor yet favour to men of skill; bu time and chance happeneth to them all." We have, all of us, our time and chance now to make our greatest conâ€" tribution as interested and loyal citiâ€" zens of Canada. In 1940, another reduction becomes effective which will mean an addiâ€" tional saving to the mines amounting in the aggregate: to $300,000.00 per ‘year. The cost of power, effective January 1st, 1940, will be as follows : / In 1935, a reduction in the rates to mines using over 8,000 horsepower was made, which effected savings to these mines of $60,000.00 per year. I'n 1936, another reduction was made to bothl domestic and. commercial customers effecting further savings of $70,000.00 per year. In 1987, another'reduction was made to mines using less than 8,000 horsepower, which effected savings for these mines of $150,000.00 per year. In 19838, a further reduction in the rates for power to mines came into effect, which is producing savings to the mines of $275,000.00 per year. f In 1939, another reduction became effective which is producing an adâ€" ditional saving to the mine using less than 8,000 horsepower. This saving will amount to a still further sum of $#275,000.00. ture is no‘hing more than the sum of our individual industry, energy . and honesty. _Our national® balance sheet is reck‘ned by the contributions you and I and all of us make to our counâ€" try in the loyalty, zeal and quality »A our citizenship. other assets would be very much less valuable. a A Large Credit Balance In short in a national accounting 1 find that on balance we have a large‘ surplus of assets over labllities but t base this belief not so much on vast physical resources a on the charâ€" gcterrof our people. Our national staâ€" In 19830, by the inauguration of an optional residential rate, savings to domestic customers amounting to $50,000.00 per year were effected. In 19833, by the inauguration of an optional commercial rate, savings to commercial customers amounting to $47,000.00 per year were effected. In 1934, ‘business having again increased, a further reduction to both domestic and commercial customers effected additional savings of $84,000.00 per year. In accordance with the Company‘s policy of passing on to its customers the benefits of increased business, the Company has consistently made successive reductions in rates during the past nine years, amounting with this one now anâ€" nounced for 1940 to $1,310,000. per year. e o e 0 e 0 1 e 1 1 C110 it C J 4A W _ â€" AAAlIUG UIAIUVUC â€"UIILGL D result of reductions in rates charged by its subsidiaries, savings aggregating $300,000.00 per year should result for the mining companies operating in the subsidiaries‘ territories. | j Reduces Initial Rate to $3.00 per Horsepower per Month for 1940 Power Company Again Reduces Rates â€" Canada Northern Power Corporation, Limited, announces that as labillities, but 1 Mr. Cross pointed out that the mainâ€" tenance of children is not met by the municipality until such children are made wards of the Society. Of the 19,769 children mentioned before, only 1,076 have had to be made wards. Ontario has 53 Children‘s Aid Socieâ€" ties, he continued, and in the year endâ€" ing last March, these had supervision over the lives of 19,769 children living in their own homes. This is a service rendered by the Socicties which is not generally appreciated and represents a direct financial saving to the Ontario taxpayer. Hon { Stresses Value of \ Children‘s Aid Work _i "Taxriyers of Ontario are saved 'thousands of doilars annually as a reâ€" isult of preventive work dons by the Stcieties," the Minister declared, "and because of the very nzcure of this work, the public generaily has had sl‘cht inkling of its effectiveness. We fully recognize the importance of kespâ€" ing children in a proper home envirsnâ€" ment wherever possible, and this is a fixed policy of the Societies. The forâ€" mer system of ‘utilizing shelters has been discarded in favour of adoptions, boarding hoimes and free homess, a plan which has met with marked success. There are untold instances where Soâ€" cieties have succeeded in bringing abow: an improvement in home conditions so ‘hat the children would not become upon the community and the Province." Toronts, Jan. 31.â€""Therevls a generâ€" al misurder .anding of the work of Child:ren‘s Aid Societies in Ontario," osserved Hon. Eric Crcss in a brief summation cf=ihe work of the Depariâ€" ment: of Publc Welfare under whose direction the Societies operatce. ‘"There is much misjunderstanding of C. A. â€"S. Saves People Money as Well as Giving Help. From all sources, private, municipal and provincial, Children‘s Aid work costs aproximately $1,200,000 annually. For this sum the Societies provide care for as many as 35,000 children each year, the individual cost ranging from $40 to $45 per child per year. For all these services, Mr. Cross conâ€" tinued, the Societies cannot legally obâ€" tain any assistance from municipal finâ€" ances, in spite of the fact that the Soâ€" cleties‘ work saves hundreds of thouâ€" sands of dollars in public expenditures by circumventing the necessity of makâ€" ing many children public wards. the functions of the Societies," thse Minister of Public We‘lfars a: ssertoed, "They are, in reality. privats organizaâ€" tlions, dependjent upon the goodâ€"will of private citizens for the financial supâ€" port that erables them to give the proâ€" tective service to children in their own homes. In addition they look after the matter of adoptions of which we had morse than 800 last year. Another featâ€" ure is the work of supervision of chilâ€" dren placed in "free" homes. There were more than 6,000 younâ€"sters cared for in private homes last year by peoâ€" ple who were willing to do this out of the goodness of their hearts and at no cost to anyone save themselves. To these people the citizens of Ontario owe a debt of gratiiude for they ars giving these children something that money cannot buyâ€"a proper home lifs and the affection which is the birthâ€" right of every child. has Remember that Moone‘s Emecrald Oil is a ¢lean, powerful, penetratingy® Antiseptic Oil that does not stain or leave a greasy residue. Complete satisfaction or money back. The very first application will give you relief= the ‘;ching of Eczema is instantly stuppedâ€"~eruptions\ dry up and acale off in very fow days. The same is true of Itchâ€" ing Toes and Feet. BRarber‘s Itch, Sait Rheum and other skin croubles, Make up your â€"mind today that. you are going to wive your sin a feal chance ‘a get well. to any good drug store and t an original bottle of Moone‘s Rmerald Oilâ€" it tnsts many days because it is highly con« cin Troubles