PROSPERITY OF CANADA.

New Zealand Herald, Volume LVII, Issue 17361, 7 January 1920, Page 8

PROSPERITY OF CANADA.

HUGE SUMS IN THE BANKS.

WAR LOAN OVERSUBSCRIBED.

The remarkable prosperity at present enjoyed by Canada is indicated by the bank returns of the Dominion for October, which had just been issued when Mr. W. A. Beddoe, Canadian Trade Commissioner to Now Zealand, loft Vancouver, on. his return trip to Auckland. Mr. Beddoe stated yesterday that the figures were declared by one of the Canadian newspapers to nhow that October had been " the banner month .of a banner year" in tho history of Canadian banking institutions.

The total assets stood at slightly under £600,000,000, an increase of nearly £66,000,000 as compared with those of October, 1918, while the liabilities had in the twelve months grown by only about £23,000,000. Fined deposits stood at more than £250,000,000, while deposits lon demand exceeded £140,'000. Combined, they wore almost sufli.iont to wipe off the £400,000,000 which hid been raised by the various Canadian war loans. As further evidence of the plethora of money available in tho country, Mr. I Beddoe mentioned that just before his | departure the Dominion Government invited applications for another war loan I of £60,000.(XX). The amount was greatly over-subscribed, tin* mm on offer when last he hoard of the figures being about I £140,000,000.