Agricultural and Industrial 

 Progress in Canada 



A monthly review of Agricultural and Industrial progress in Canada, 

 published by the Department of Colonization and Development of the 

 Canadian Pacific Railway at Montreal, Canada. 



VOL. 4 No. 2 



MONTREAL 



February, 1922 



Business Prospects Brighter 



There is a growing conviction among Cana- 

 dian business leaders that Canada is on 

 the eve of another important period of 

 industrial development. Even so conservative 

 an authority as Sir Frederick Williams-Taylor, 

 General Manager of the Bank of Montreal and 

 President of the Canadian Bankers Associa- 

 tion, is of this opinion; in a recent statement 

 he says: "For two and a half decades, Canada's 

 progress has been phenomenal and continuous. 

 At the momenl we are marking time, but we 

 shall have another innings before long. " 



Among other things, his conviction is based 

 on the fact that Canada has such wealth of 

 natural resources. He says: "The so-called 

 accumulated wealth 

 of a young country 

 is necessarily mod- 

 erate; the natural 

 wealth of this 

 young country is 

 boundless. Take 

 first our agricultural 

 resources. Think of 

 it ! The whole 

 North West was a 

 barren waste only 

 forty odd years ago, 

 and to-day, in a 



thousand-mile belt across the Prairie Provinces, 

 is one of the greatest grain-producing areas in 

 the world. In the past three years, Canada's 

 sales abroad of vegetable and animal products 

 brought in $1,900,000,000, a sum in itself ap- 

 proaching the amount of the national debt. " 



Referring to other important natural re- 

 sources, Sir Frederick says: "In water power 

 no country is richer. So far we have deve- 

 loped in the provinces of Quebec and Ontario 

 about 1,000,000 h.p. each, British Columbia 

 coming next with 300,000 odd. Let it suffice to 

 add that we have one of the greatest zinc mines 

 in the world, the greatest deposits of nickel and 

 asbestos, with coal mines and fisheries practically 

 inexhaustible." 



The Tide may have been out but is com- 

 ing in again. You will reach it first if 

 you go out to meet it. By intensifying 

 your work, more business will be created 

 your efforts will benefit others and 

 more business means more employment. 



Among the agencies that have contributed 

 very greatly to Canadian banking develop- 

 ment, Sir Frederick gives the Canadian bank- 

 ing system a very high place, for he says: 

 "Among the agencies that have combined to 

 build up our trade, and thus increase our 

 available wealth, the Canadian Banking System 

 stands, in age and excellence, in a class by 

 itself. No country has a better system adapted 

 to its requirements. It has established our 

 name abroad as that of a solid, stable country, 

 remarkably free from panics and financial 

 crises. It has stood the test of time, through 

 periods of depression, through inflation caused 

 by the American Civil War, through the great 

 World War and the troublous years of so-called 

 peace through the worst, as well as the best 



of times. " 



A tribute is also 



paid to the Cana- 

 dian Pacific Rail- 

 way, Sir Frederick 

 saying : ' ' The Can- 

 adian Pacific Rail- 

 way needs no cham- 

 pion, but as a Cana- 

 dian I am proud to 

 pay a tribute to this 

 colossus of forty 

 years' growth, this 

 greatest business 

 creation of modern times, to which Canada owes 

 so much." 



New York and London will be especially 

 interested in the opinion of this eminent finan- 

 cial authority on Canada's credit. On this 

 point he says: "As for our country's financial 

 credit, which, after all, is the true test of the 

 standing of a nation, as of a business concern, 

 it leaves nothing to be desired. Were it not for 

 the disadvantage of transferring aiones?' irom 

 London to Canada, - : -*~ - 

 of pound sterling, 

 could float a vast 

 favorable terms i 

 market, too, the 



To - 



hundreds of millions wifrH*| 



'O 



> ilie^ep^ciation 

 j'miBti^i? Canada 

 ~ id on very 

 New York 

 :ould borrow 

 and on better 



