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CircitidMk $1.00 I>e^f;yill^^!:/.:^^■^?:r; ̂ ' -- . ^ • - . Ambkside, ' 6c per eopy at newwitandis^ Vol. X CANADIAN b a n k in g ; df Dunddmpe, v j i : ^ d f S 0 B R j b :c ., T H v ^ s tiA Y ,S 'ti^ f^ ^ 1̂̂ 35 ftAINBOW' MfrilSt;' ' i "f t# l3 ! i As a result o f ih e cottiinued 4 ^ r e s s io n Canadians Ss^n^-. ally have taken a deep Interest in economics.duHpfif'the last few years. I îde by sid^'with th is M s sprUnfif up att insistent demand for; a national bank, the establishm ent o f whieji'has. been included in the platfdrm of the present L iteral Govern­ ment. w . , . This insistent demand has arisen from the liopular resent-.' meiit against th e restriotion o f bank credit; which-necessarily occurs during every, depression. The average Canadian cannot understand why ci*edit should be eaay in a boom and hardest to obtain in bard times, when he m ost needs his bankas as­ sistance. Frequently he accuses the latter of restricting credit for its own ends. This is, of course, absurdy because a bank is a wholesale dealer in money, and to accuse it o f refusing to lend money is exactly, the; sam e as accusing; a merchant of refusing to sell his goods. ' The real reason is that both the bank and the, merchant have to be more, careful in granting credit when * t im e s ; are hard. Usually, too, the bank finds its funds depleted by heavy withdrawals of deposits, during financial,crises, though , it has so* far not'happened in th e p ie se n to n e ; The:ppssibility; how­ ever, is still there. On top of th is,.m illions of ,these deposits are payable-on^dem and,-which-further .complicates m atters, - The banks have been further accused of restricting, credit . with the object of causing depressions,,for .th cirp w n benefit, , of course, although'these benefits ha vie'never been satisfactor­ ily explained.;. I t'm a y he well to state,, however,, that depres­ sions"produce frozen credits and bankruptoieS, vyhich result in bank losses instead, bf benefits,. T here'w as a"*'" pre-war days^when all, Cdnada took to granibling, line, and was borro'wing largely from the banks to country, w as headed for. a.financial crash, anjd ,tp save the day i .! .« n i l Inn-nci '4-f\ nioi 'IIA O /l' TA1* T.IIIS PRESBIitTATION OF . PICTURES TO SCHOOLS « ' ̂ Pit > ̂ I f To commemorate , the Jubilee b ig n ight N o . 3 2 COMING EVENTS " M < m' '1' - ' ... ' j ' , V 5̂/' ( ; t, ' Tomorrow {Friday, will be a k>iday, December 18th r n ight a t th e OrahifetHall cert. Orange Hall, by t Con- _____ ______ , )y t h e W e s t; year oTicin^Georg^ when the Girls* BainbpW; Club Vancouver School Band. . Mary, the Duncan Lawson Chap- will hold its first entertainment ter lak Thiit'iday presented each in aid of th®„^ya] A+* >+.I1A ! fm ir W e s t V a n co u v e r * " -- «« DICKENS* NIGHT Home for Children, * Cards will The West Vancouver Dickens ____' p l a p e i , , pupils, prinoipeh staff, and mem bers o f , the / chapter. In each case, Mrs. Small, regent, gave a , short patriotic, pddress, J. Mitch­ ell, supervising; principal, and Mrs. 0*Donhell, on behalf o f the school,board, also gave short ad­ dresses. - :At Pauline Johnson, Mrs. Mor­ gan, prist, regent, unveiled the pictures, Mr.',,Gray,, inspector of ̂ schools,v waa present here and - spoke briefly,: congratulating the W est Vancouver children on * their mrihy ' ridvahtag^^ ̂ Mr. Brealey accepted the pictures on behalf o f the^i^hool. Billy Blenchorn and.H ia4-P leoe ing at 8 p.m;. Sketches will be OKCD Orchestra w ill stipplyHhe taken from Dombey and Son, thimusic. The dance floor has, jurt and Nicholas Nickleby, andithei:e been renovated and is one, of, the will also be a musiOal program, best on the North Shore. . ; Those taking part in the sketch- . Refreshm ents, will, be served es have been practising fo r some and prizes given for the cards., tim e and an entertaining even- Adm ission, w hist ̂drive Vand ing is assured to all who at- dance, 2Bc. *' v , tend. There is no admittance - .'------. fee, but a silver collection will be HANDY-EMPOBIUM I taken up for the Hall Re.hova- 'I H iI Hi , Miss c.-Dowal is, ojieril«;('.nhe a n te /b v ld S ^ ^ ^Handy Emporium" tea,fewday? by adults not admitted. at 1486 Marine Drive,-where sh e . - ̂ u A r r vnYTRM ifA t t. - • will carrjj a .nice, ptobk (r f f ftrac- The" ? w ilibb a tiye -goods at attracted,lirices. „ ' ̂ ' Included In this stock ,Willie, . InglewoW High was elusive , china and 6therr;i;iies y f e s S f ̂ L ife' to HolIyburn.wbere Mr; Mitchell the banks^refused all.kw ns. wWch^^^^ receiVed th e :ten u res on behalf purpose..i-The result was a depression, ns^^^ 5 ? ]" "" . of thc. high' sckdol, after being usual and at 7:30 !r- n cust6me^s*;>S^bsits^. and,; .Jh^efO^^ realizes .:that for ;,eyeiy" Idan* there ** ■ J a ' ' ' i s ) - ' ' . ' ' . p 'w f - * - . ; * . S V * - 1*. ■■ 'But few;se€ es that>;.th UiuenWe^Si bank foresees'la tio n o f money ./Y et, in view of the tw o preniises stated above, . tom o f; each is "a b rass colored . Knill's Transfer are a d v e r t is - -w ill be raffled at "'the bazaar. 1 • 1 -_i •'I...V in iiT.nirioi'ir' +/\ fi'nri.'V»'rpfii+ I ' 1.̂ .1 inof fhoir cifl^x/riiiof-in'--fUia Issuê ̂ Further afihouhoements will be. from made later. , . ̂ . . _ from ----- ^ ^ ---------- r of (TouTî ^i?presupposing th a t .thl-^hartered banTcs are tâ ^̂ . gents M r i j e s t y t h e King.* In th e M. B. King-s,M ill in North , W. ,G. Draper, who recen tly over by the Bahk;of C an ^ a , yrhich is w hat Canadians rea lly want and are stn v ih g for.- ' ' ' , ' , ^ In normal ;tim es it, is not eo>hsidered good;banldng for mpre than thirty-yfive per-c«n i ,oT^a'bank's to t^ assets to p e || held in its-cash ,reserve, w hich includes legal tender, specie, call loans,'and g ilt ed g ed . securities. In a serious crisis such as war or depression th e'ratio m ay'be and'm ten is as hifirn as fifty per cent'or-even more. W hether or no,a national bank ̂ could afford by virtiiri of-its h a v in g -th eb a ck in g o f the nation s ' resources to maintain the thirty-five per cent ratio under such disturbed conditions..-as mentioned" above is ,a moot point. ^At any rate'iMs^.thVonlj^'possible ;a4 vantage': we.^can 'see^in-the | substitution of a national bank for. th e present banks so tar as br^il;is.;CC^eiMdi^jt:.>^,^^^ ̂ : ;ti; --I The statement,Often heard th at Ithe b a n k sM y e restricted note circulatioh'is o m ^ a -p a r ^ ith Y ^ I refuse credit, for th e ir own erids,; T M m e ^ fa ct t h ^ the m o ^ | notes they have in circulation th e greater their profit is a su i- ficient ans^r.f\-,,;;;., r .; A favorite contention of banklcritics has been th a t banks create credit practically- entirely r:by paper - transacrions -in which no actual money passes,.. ]TIM is only a , half, truth. In the first place ey e i^ M n k h lg day inf the capitril\oJ;e5̂ y fp r o v - | ince each baiik has to be hrepared\to m eet in Canadian degrn' tender or specie the difference between w hat it has taken in the previous day in notes, and cheques of other banks and w hat the^latter banks have:feceiyed o f dts own notes and cheques. It may receive' or i t may pay, .but in order, to be in, a positon to pay i f has to alw ays keep on Hand in every capital c ity a____ "V ■-rr.t-. - ' hfk nna/iA the centre is a .^even-pointed Vancouver and contains no. broke a bone'in h is shoulder as star, denoting p u n ty and high m anufactured.stuff; It is, there-, the result o f a .fall, has returned aims, also the seven great div- - fore,- a' N orth Shore product.' from^the hospital to .h is home a t isions o f our Empire -- British - N otices on .Knill's trucks state ,2435 Marine Drive. "" Isles, .Canada, A u stra lia ,. N ew w'here his saw dust fueU homes Zealand, India,' South Africa and ^**0 ̂ h is drivers Can. be' .American (answering phone) -- W est Indies. U p o n th is iS a "recognized ' by- their uniform.-; "Hello!" of the Empire bond. the duce'did you guess it?V ■VA LEGION W HIST CHORAL C 6 N £ E R T ~ A large number o f patrons have requested an 1 evening of cards only, so ' this: ■ Saturday, . November 30th, and. Saturday; December ,14th,., w ill;:be^w hist nights, bards starting a t \8 :30 p,m^ sharp, and continuing until 11:30 p.m. Another change, 'which it is hoped, will prove very popular, will be th e , serv in g o f ,* refreshm ents upstairs a t t h e ' cajfd tables instead-of downstairs as form erly ., Thbse > attbndjing m ight well arrange ̂ kheijr.parties ____ __ _ ______ now, remenibering cards .s ta r t at very large suni in fie i^ l tender. ;Fdr-payment;]must be made, , P p* sharp,j __■'__ ̂ ■.TfrtVrIa a* pArTfiiTi .Tiro- - Tf '.tnpse two The W est Vancouver Choral Society are giving their first concert of th e season at 8 :15 p.ni.'next Monday, December 2nd, in the Orange Hall, under the baton o f their new conduc- tor, W allace Gillman. They-wilLbe assisted by th e W est V a n -' oouver String Orchestra, of .w hich J. Haydn. Young is the ; conductor. The assisting a r t is t w ill be W atkin Mossman, bari- _ tone. Tickets, 35"cents. The;]^rpgrtoJs «ts follows:, , ̂ . OVERTURE............. ............. ........... ......A...................Selected . , , . W est Vancouver String. O rchestra CHORUSES--"The Eriskay Love L ilt" ..... ..........' "I Live Not Where I' Love".........-'....;.,„.G. Shaw "The Sfeigh" V..'..... .......:.';....:...:Kouhtz-Mueller BARITONE SOLOS-- , . , * - . • .(a) "Prologue fr^m P aghaccr^ that portion :If -these tw o ; w hist~ . prove successful, 5 they; will .b e (b) "Non Pui A n d r a i " ; .... ...........By Mozart (c) "Nichavo" ;,>;:..i.;;;;;..;..,.;...;.,.By Manazucca MR. WAmiN^MOSfSMAN . , ' day W t h e bahl^ suspends^, Jtff b t& r words Kv̂ xvion of every credit:trrihsartibn oh paper a c t u a l l y - w . r - ~ met o r is prepared to be m et in ca sfil Secondly, there is always continued in the N ew Year, so : CHORUSES-- As Torrents in. Sum m er" .........'.Elgarthe possibility-.6fjSombVcatastronhe.br slump involving large it is now up to . the;public. Re ̂ \ . . . . .... ..rxu. w i i . - ^ „ x , -withdrawals pf deposits either oVer the counter or through member.-tM ^ the clearing hou^s.' i.r . , ' Nwember 30th, a p d :^ ^ h ,p ^ ^ . m i - ' i _____ ^ , S p a n r iV A rr iS A lT if iT lt it i h i a f a o i iA ,1 *//■'. -_V!MarchjofJhe_C^meronLM,en!^jarAnvjfieJ3antock^ iritermfssioit ' -' < , , / , The W est sa y s i t is penalized as regards loans in favor JiLtherEaStV^'ItfiMy :a^ may so::. B̂^̂ i t is a ; f ^ t that See advertisem ent in th is issue for, further detailSV bank credit, in fth e ,E ^ t is r e s t r m ^ every summer im order mTTo that the; W)ri$tbrh w h ^ f c i ^ moved.. . And: it j s also yJEipiOTCULT^ ,, | a fact th at;^ s^ rn lb u sin e^ m en dqmplain of the banks* dis- - .;1 -ANNip^At crimihati®airilnlt'lthbM'Mn':the^^m^^ - l<>khri,;in'"favor p i V' '.V the ;.':-;;'M e"'shhuaj;s,>Gett^ral£^ A very old objection has been* th e M g e amount bf money o f the Horticultural A ssociation ̂ . loaned hy the brinks a t callih-N ew 'Y ork. have held wiil .be heia;bn 'Mqhd,ay.;^De6emi , ' ' . < ; for years th a t thistshould brijorified,-in Canada. It.would hai^e. ̂ ̂ ber 2nd, a f ^ b ^ n loaned in eSnlM ;:ih the foriiri^M ball loans h a d ,pur m ark- cipal " " ^ .-it"'*' ^ Intennfssioip CONCERTO IN G MINOR ...............Handel For Piano and Orchestra.* . ' " l V. MR.V-WAlLACE - GILLMAN /rit: the Piano. ' Orchestra under MISS M^MARBT MclNTYRE .: .. BARITONE ̂ SOLOS-- ^ ; V ' i (a) - "Tearŝ and,vSigha" ,.j.;.,..;.........,Schumann (b) ' "Sea Moc^s? Wi»nifr<Sd' Catford ' - . (e) "Ihe Piperio! Dundee,";Scottish Folk Song / „ * MR. WATKIN MJOSSMAN . \ - ORCHESTRA Selec