The Bewildered Newcomer Writing in the "Monetary Times" on the subject of Canada's opportunity in the Far East, Mr. Geo. Wilson makes reference to' the establishment of the Park-Union Bank, in which Canada is directly interested, and talking of banking difficulties, he says:—The Far Eastern banking field presents problems and difficulties which, at first blush, appear to be entirely beyond the ken of a Canadian or American banker. This is rot so much the case in Japan, where the gold standard prevails and where banking and commerce is modelled closely upon occidental standards. as in China, with not only one, but several silver standards or units and with "local euro rents," and even silver coinage, mbicct to frequent and sometimes violent fluctuations at each of the Treaty ports. The Chinese ex: changes are so abstruse, ambiguous and complex that a newcomer 18 utterly bewildered and quickly realizes that a successful hanker in the Far East should be "horn and not made" there-This is particularly true of the man at the helm. as no man. however experienced or expert a banker ho may have been in Europe, America or Canada. could possibly "carry on" successfully in Asia without first mastering the Eastern exchanges. and the ce-relation thereof to domestic and foreign trade, and th would entail a period of assiduous study on the ground for so: least two or three years) A Japanese banker in China, upon hearing of the sup: posely heavy incurred China by an inexperienced foreign banker during the first year's operations, naively commented upon the amount as being a "rea-tonable initiation fee."
Text read from the printed page and cleaned; old type leaves the occasional error.