No doubt you have heard that Canada has issued a domestic War Loan of $50,000,00q. It issued at 97}, and the interest is 5 per cent., which, however, really works out at nearer five anda half. Mention was made in past letters that some such loan was contemplated by the Finance Minister. At that time many people thought it would be wiser for Canada to keep her money to conduct her trade with. But owing to huge war munition orders, and the big crop, conditions have altered.
There are very large sums: n deposit in the banks, so large indeed as to be rather awkward for the banks to deal with. It is reported that many of them refused even to take any more. The rate they paid their deposi tors was only three per cent. The Finance Minister looked thoroughly into the financial situation and satisfied himself that loan would be taken up, and be If
Text read from the printed page and cleaned; old type leaves the occasional error.