BIBLIOGRAPHY.

The student of financial conditions in Canada will find the following references helpful:

1. The Canadian Banking System, 1817-1890. By R. M. Breckenridge. MacMillan & Co., New York. 1895.

2. The History of Banking in Canada. By R. M. Breckenridge, National Monetary Commission.

1910.

3. Canadian Banking Practice. By John T. P. Knight, Toronto. 1906. 4. Banks and Banking. By J. J. Maclaren, Toronto. 1908.

5. History of Banking in Canada. By B. E. Walker, with a supplement by A. St. L. Trigge, Toronto. 1909.

6. Banking and Commerce. By George Hague. The Bankers' Publishing Company, New York. 1908.

7. Manual of Canadian Banking. By H. M. P. Eckardt, Toronto. 1909. 8. History of Canadian Currency, Banking, and Exchange. By Prof. Adam Shortt, published in the Journal of the Canadian Bankers' Association, Montreal.

9. Canadian Bank of Commerce: Charter and Annual Reports, 18671907. Two volumes. Toronto. 1907.

10. Canada Year Book. Printed by S. E. Dawson, Ottawa. An annual statistical publication.

II. Heaton's Annual: The Commercial Handbook of Canada. Toronto. 1909.

12. The Canadian Red Book. A general handbook. Montreal Star Publishing Company.

13. Monthly Reports of the Chartered Banks of the Dominion of Canada made to the Minister of Finance. Ottawa.

14. Annual Reports of the Auditor-General.

Ottawa.

15. Annual Reports of the Affairs of Building Societies, Loan and Trust Companies in the Dominion of Canada. Prepared by order of the Deputy Minister of Finance. Ottawa.

16. Report of the Registrar of Loan Corporations (Ontario). Toronto. 1908

APPENDIXES.

APPENDIX A.

MEMORANDA AND LEGISLATION RELATING TO CURRENCY

IN 1907 AND 1908.

I.

[P. C. 2501.]

Extract from a Report of the Committee of the Privy Council, approved by the Governor-General on the 12th November,

1907.

On a memorandum dated 11th November, 1907, from the minister of finance, calling attention to certain conditions of an exceptional nature existing at the present time in connection with the important business of moving to the world market the grain crop of western Canada, which conditions seem to call for governmental action, the minister observes that throughout the financial stringency which has been and is being felt in all the money markets of the world the general business of Canada so far has stood well. At such a time, however, all loaning business must be conducted more conservatively than at other times. The banks, finding it difficult to readily turn into cash resources which under normal conditions are of an easily realizable character, deem it necessary to restrict to some extent their commercial credits.

In the case of the grain trade of the Northwest special conditions have arisen to which the attention of the minister of finance has recently been drawn.

Experience shows that a very limited quantity of grain can be brought to the seaboard by the present railway facilities. The successful movement of the crop is dependent largely on water transportation. The present season of lake navigation will close in about a month. The crop of 1907 has been somewhat later than usual, and accordingly the pressure of moving it falls within a short period. An unusually large percentage of the harvest, it is represented, particularly in Saskatchewan and Alberta, consists of low-grade wheat, for which there is at present an available market at good prices in eastern Canada and abroad, but which, if not brought out before the close of navigation, will have to be carried over at a heavy loss, owing to deterioration, which, it is represented, will take place if the wheat be stored for the winter.

The prospect of insufficient financial accommodation to move the crop is the cause of much anxiety in the West among farmers, traders, and bankers, and urgent appeals have been made to the government to devise some means of meeting the temporary difficulty. The question can not be deemed a local one, affecting the West only, inasmuch as the satisfactory marketing of the crop has an important bearing upon the trade and commerce of the Dominion at large. In other branches of business, no doubt, the financial stringency is felt, but the necessity of moving the grain crop before the close of lake navigation, now so near at hand, creates exceptional conditions which seem to demand exceptional action.