PRINTERS' INK &*y" 129 



of another bank. He was a far-sighted financier, 

 Mr. Machaffie, and almost the first account he sought 

 for the Home Bank was that of the Grain Growers' 

 Grain Company. The Home Bank was new in the West 

 and in the East it had been an old loan company with- 

 out big capitalistic interests, its funds being derived 

 mostly from small depositors; but while at that time 

 it was not among the wealthiest banking institutions 

 of the country, it was quite able to supply full credit 

 facilities. 



The opportunity for the farmers' company and the 

 young bank to get together to mutual advantage was 

 too good to be overlooked. Under the banking laws of 

 Canada valuable special privileges are granted in view 

 of the important part which the banks play in the 

 country's development. Government returns indicate 

 that the greater part of the business done by banks is 

 carried on upon their deposits. If the working people 

 and the farmers, as is generally accepted, form the 

 majority of these depositors of money in banks, then 

 were not many loans which went to monopolistic 

 interests being used against the very people who 

 furnished the money? If the farmers could acquire 

 stock in a bank of their own, would they not be in a 

 position to finance their own requirements rather than 

 those of corporations which might be obtaining 

 unreasonable profits from the people at large? Such 

 an investment would be safe and productive at the 

 same time that it strengthened the farmers' hands in 

 their effort to do their own trading. 



With all this in view the directors of the Grain 

 browers' nrain Offlnnany *">* a 



Home Bank stock and were appointed, sole brokers. _to 

 sell a large block of the bank's stock to Western 

 ""T"" 



