There have been two events of considerable interest in the field of national affairs during the past. month; the first was the successful placing by the Dominion Government a domestic loan of $225,000,000, and the second the return of three Liberals in bye-elections held. in widely separated sections of the country.
'The domestic Joan was for the Purpose of retiring, $170,000,000 maturing Victory Bonds and $40,- 000,000 short-term Treasury Bills and of providing $15,000,000 of new money for general puvpoies, 'Tt was oversubscribed in less than' a week, By this refunding operation a considerable saving in interest is. clfected, ax well as a, reduction. in outstanding "tax-exempt bonds—Which the Victory Bonds all were, 'The success of the loan was not unexpected, for it was carefully planned, and was introduced to. the Country' by much advertising: which finished up with radio talks by Premier Bennett and Finance Rhodes. The reception which accorded is. interpreted by most financiers as indicating continued confidence in the nation.
The defeat at the polls of Go ernment supporters in. New: Bruns wick, Quebec" and "Saskatchewan cannot be lightly passed over, None the seats was of great individual importance, "but" the fact. that Liberals' triumphed in all. three contests after strong support. had been furnished" the Conservative candidates by. Cabines ministers must prove" disquieting "to. the leaders of the Government, In the jection there tot -stvengtiy for here Canadian Commonwealth Fed nv'had. decided torry their first, Federal contest. The C.CF. candidate Was Ex-Judge Stubbs, moved from the Judiciary "earlier formerly' of Winnipeg, who was 2e-his "year "bectune it was alleged that his socialistic views were. being earvied into his. judgments, Stubbs fame second to the Liberal in a field' of four; this was inverprated by both Liberals and Conservatives meaning that the C.CP, could not expect any support in the future in the Federal eld, and by the n of growing interest for." On the result of comment, but Mr," Mackenzie the Liberal leade:
Text read from the printed page and cleaned; old type leaves the occasional error.