BANK PRESIDENT IN OPTIMISTIC MOOD.
CONDITIONS IN CANADA FAIRLY SATISFACTORY.
LONDON, May 2.—Sir Vincent Meredith, president of the Bank of Montreal, takes an optimistic view of the commercial situation in Canada, in an interview which lie has given to the Times. He declares that general conditions are, on the whole, fairly satisfactory, though in many, cases there has been an accumulation of high priced stocks which will have to be liquidated, probably with some losses, before normal conditions jcft.rn.
Canada has a heavy war debt and high taxation, but will probably emerge from present difficulties sooner than many other countries, the Montreal banker declared. The present Canadian banking system is admirably adapted to the requirements of the country, ho said, adding that Canadian bankers have decided that the suggested federal reserve bank, which has been ’ sometimes advocated, would be ail unnecessary and expensive luxury giving no better facilities to the business of the country than was now provided.
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Bibliographic details
Poverty Bay Herald, Volume XLVII, Issue 15543, 11 June 1921, Page 7
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158BANK PRESIDENT IN OPTIMISTIC MOOD. Poverty Bay Herald, Volume XLVII, Issue 15543, 11 June 1921, Page 7
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