The campaign by McGill to raise $5,000,000 

 as an endowment fund to aid the University to 

 improve buildings, general conditions and extend 

 her educational facilities, met with the success 

 that was expected; and with the $6,500,000 odd 

 that was donated, and under the able direction 

 of Principal, General Sir Arthur Currie, she is 

 preparing to carry out those improvements and 

 betterments that will make the University rank 

 with the foremost educational- institutions in 

 the world. 



Whether it is due to the result of the Cen- 

 tenary campaign or not, the University has 

 already inaugurated an extension course of 

 lectures on banking under the charge of Messrs. 

 Stephen Leacock, B.A., Professor of Political 

 Economy, R. C. McMichael, K.C., B. K. 

 Sandwell, B.A., Asst. Prof. Economics, and one 

 of Montreal's chartered accountants. 



The Course In Banking 



The banking course, which commenced early 

 in December and will run till the end of March, 

 provides opportunity for students of banking 

 to improve their knowledge and fit them earlier 

 for promotion and executive positions, and is 

 warmly welcomed by the banking fraternity. 

 It includes lectures and discussions on the 

 Theory of Value; The Value of Gold; Silver as 

 Money; Paper Money; Bank Deposits and 

 Cheques; War Credit and Inflation; The New 

 Bankruptcy Act; Analysis of a Company's 

 Balance Sheet; Marine Insurance, and the 

 organization of corporations, stocks, banks, etc. 



The Financial Policy of British Columbia 



In announcing a financial policy for British 

 Columbia, Mr. John Hart, the Minister of 

 Finance, states that it is the intention of the 

 province to establish a provincial bank so that 

 the Government can assist dependents and keep 

 the money of the people in the province for 

 local development, also to establish a reserve 

 fund in which all monies from the sale of natural 

 resources must be placed. This capital fund, 

 he stated, would never be impaired, but loaned 

 out on interest for the development of British 

 Columbia. 



Bank Literature 



Many Canadian banks issue regular monthly 

 House Organs and Commercial Letters. Amongst 

 those publishing House Organs are the Canadian 

 Bank of Commerce, the Home Bank of Canada, 

 the Union Bank of Canada and the Royal Bank. 

 All are finely printed and illustrated and in 

 addition to their purpose of keeping members 

 of the staffs interested and informed regarding 

 current bank news, carry many excellent articles 

 of general public interest. 



A little book entitled "Service in Banking," 

 by the Home Bank, has recently been published. 

 As its title indicates, it deals with courtesy and 

 service on the part of bank members to the 

 public, the General Manager, Mr. J. Cooper 

 Mason, stating in a brief foreword that it is: 



"To place in the hands of every member of the 

 staff a memorandum that may contribute to enliven 

 their resolve to maintain an appreciable measure of 

 service in the various departments of banking." 



Industrial Outlook in Western Canada 



By John Sweeting, Industrial Agent, 

 Western Lines, C.P.R. 



A trip through the West from Fort William 

 to Vancouver in the early part of December 

 disclosed an attitude of uncertainty apparent 

 in all business circles. The evident desire on 

 the part of the retail trade to reduce stocks 

 of merchandise with large reduction in prices 

 was, apparently, not attracting a very great 

 desire to purchase on the part of the public, 

 but at a later date, nearer the middle of 

 the month, business commenced to pick up and 

 showed signs of usual Christmas activities, and 

 prospects are on a better footing than they 

 have been for some time past. 



Resumption of normal business will have 

 a steadying influence, with perhaps a slight 

 upward movement in prices followed by a 

 decline to a point where the laws of supply 

 and demand will fix definite trading values. 



Bank clearings, deposit accounts, crop clear- 

 ings, value of crop and other factors, all point 

 to a sound financial and healthy condition 

 existing in the West. Labor, until the last few 

 weeks, has been fully employed at high wages, 

 whilst now a certain amount of unemployment 

 exists, more especially in coast cities; there is 

 nothing, however, very unusual in the situation 

 this year as against other years in this respect. 



As undoubtedly, with the turn of the year, 

 there will be a steady westward movement of 

 merchandise, farm machinery and other articles 

 to replenish stocks in preparation for spring 

 and summer trading, the present effort to sell 

 out existing stocks is a natural one. In a general 

 way, replacement prices are the rule, and it is 

 purely an act of natural economics in preparation 

 for stabilized prices, as against those which 

 were caused by conditions pertaining to a world 

 war. 



The Outlook for 1921 



Much can be said of the outlook for 1921. 

 There are many things in the doing and much 

 to be done. The housing situation is demand- 

 ing vital attention. The reduction in lumber 

 and other building material prices, together with 

 a readjustment of wages and labor conditions, 



