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PAGE FOUR

Ilia Illlarlettetevln Guardian

Hugh-g, w, u‘; g, lulu‘, 1.2. Vice-Pullout- a. t. swan, I. J, 1. louohry. " t-Ccblll - n. A. lentils». IJ- l» 0.

Editor and llunglng Dlnator. J. l. Burnett, IJJ. Atnsoolnto Mltors, hulk Walks: and D. l. Currie.

Iorllug Dally (lauded llfl) I530 svr veer (II Mir-w)- dcllverol. M.“ DII not In nuns) Illvllll" "I!" lll tel smut.

noun/tr, ocroaak :1. 1m. Political Labels

The Christian Science Monitor, in cotnment- ing on the federal election in Canada, remarks: “ This is like history repeating itself north of the American border; the same general dissatisfac- tion which swept Mr. HOOVER out and Mr. ROOSEVELT in, has replaced Mr. BENNETT with Mr. KrNo. The titles of the parties are mislead- ing. The Liberals are now really conservative in their views, and the election result shows a re- action from the more liberal methods of the BENNETT regime.” ,_ i

The United States paper's reference is evi- dently to the fact that while the BENNETT Government was placing on the statute book legislation that looked to reform as well as recovery, the Liberals under Mr. KING gave no enthusiastic support to such legislation whatever, though they did sanction it with their votes. The opposition policy was to play safe, and not give offense to any important voting element in Canada, while Mtg BENNETT took the responsi- bility of giving offense to tlte so-called "big interests” that were supposed to be more in sym- pathy with the Conservative party.

The result shows clearly that Mr. BENNETT not only did not get the support 0f the masses of the people who were to benefit by his social and reform legislation, but ltc alienated the support of the other elements of the electorate that had no sympathy for legislation that interfered with things as they were. The Chfisfidrt Science Illogtifor is quite right in saying that labels in Canada do not indicate the realities of the situation.

Canada's Chartered Banks

In the ‘ieccnt federal cantpaign much was laid by way of criticism of banks and the bank- ing systcnt under capitalism. This subject, as it relates to Canada, was dealt with in an inform- ative tnanncr by Mn. j. Morn, general ittspector of the Royal Bank of Canada, in an address in Montreal on Oct. r6. Among other things, it was pointed out that the 1,445,000 shares of the

i chartered banks in Canada are owned by nearly

._":.....-o:j_~_*"'"'fl__,_ j ,"‘...-_“ ' '

"Wflflll IIIIIIBIIUII .- otlleq the exod

50,000 different parties. The average holding of each is less than 3o shares, and a large propor- tion of the owners are women and estates, the beneficiaries of which are ‘children. The direct- ors own personally not more than a fraction of the total shares outstanding.

Altswering the complaint that banks have been restrictive in their loans to the farming community, hill. Mum states that on the con- trary, from his personal experience he believes that if one were to make a personalcanvass of the farmer borrowers he might be told by them that, in the lttaittf their complaint is not that they have received too little credit but that in the past the banks have been over-generous in facilitating it. Where credit is refused, there is always a reason. "No bank will ever let a good loan go begging."

The banks operate nearly 5,000,000 deposit accounts -in Canada, and they must be kept at . all times in condition to meet, at a moment's notice, a depositofs request for his money. Banks are prohibited by law from lending on real estate. They cannot lend on long term. They are chartered as commercial banksand as such must function. It was departure front the fore- going principles that lcd to the crises in other countries which jeopardized the savings of mil- lions of people.

MR. Mum is cottvittcittg in his explanation nf the safeguards which surround Canadian banks for the protection of depositors, share- holders. and the public at large. He says: “First, the banks operate under charters from the Do- minion Government, under the provisions of the Bank Act, which is revised and renewed every ten years. That Act sets forth what we ntay or may not do. The next safeguard is the periodical inspection by the Inspector General of Banks, a trained Cattadialt banker and an officer who functions uttder the Minister of Finance. at Ottawa. Then, we are subject to an audit in behalf of the shareholders by two auditors be- longing to different firms and selected from a panel approved by the Minister of Finance. Both are appointed by the shareholders to whom they rcport as required by the Bank Act. These aud-' itors clteck the entire workings of the bank, verify the securities, and appraise the value of loans. In addition, the banks maintain their own internal travelling auditors and inspectors who check the caslt and securities, balance the books, and examine the loans at every branch bank once a year."

Unemployment Important as are the other problems facing the new KING Government, unemployment re- mains the ‘major burden on the country. The campaign speeches of Mr. KrNo and his success- ful partycandidates may be searched in vain for any statement showing that they realize the true nature of this problem. During much of the Mncxetm: Kmo regime from 19m to 1930 unemployment was relieved by a constant exodus f thounnds of Canadians annually to the United tales, where an unprecedented commercial boom we: in progress. When Canada crashed into the ' I year before Mr. Kmo left u: to the republic ‘stopped and white therrour people have zeeroased the border and resumed their former places of‘ country. These facts, sndhihe v0

i , dus to the States will accentuate his difiiculties. He will learn something of the. character of the task which’ Mr. BENNETT has had in hand since ,the middle of r930. Mr. KlNds work will, how- ever, be greatly simplified by the fact that Mr. BENNETT has found new markets for Canada. that the country's credit stands at a very high level, and that the Dominion leads most, if not all, other nations in economic recovery. If the Prime lIIinister-elect is wise when he gets into the saddle he will adhere as closely as possible to the BENNErr programme, and thus avoid the mistake of checking the national progress to- wards prosperity.-

Editorial Notes

France has toed the mark.

Diplomacy, even open and above board, takes time and patience before accomplishing anything worth while, '

9k 9K 9ft

In reading war bulletins always bear in mind they are tinctured with the atmosphere of France and the United States through which and for whom they origiaréallay‘ ctzkme and are prepared.

A farmer says he now understands why there are bristles on pigs—its the “wo0l" from

Notes By The Way

There are no better Camilla: than the many thousands of Italian birth or descent. Their fellow- Canadlnna In no degree hold them responsible for Mussollnfs conduct and they wlll and the hospitable Canadian atmosphere In no we] chilled for them by what Is "°’ penlng In Afrlca. or Geneva. There ls no unfrlendltness In Canada for the great Italian people. even though they are temporarily under the heel or the spsll of a dlctator, who, though he has some remark- able cehlevernen‘ to his credIt, stands for a system of government abhorrent tn all people who prlae their personal and political liberty. Mussolini wlll vnnlsh but Italy wlll remaln, her freedom restored and her rightful place resumed tn the oomIt-y of nations-Ex.

The Brltlsh Labor party has chosen Major Attlee. M. P., to suc- ceed George Lansbury as lender. Lansbury carried hls paclflsm to the extreme of refusing to approve even economic sanctions against ltalyjlect these should lead to war. No one doubts hIs slncerlty and he ls regarded with affection by the whole country. but his party has refused to follow him, because lt believes that the League ls the only

the milk fed them after the butter and cheese have been removed. v ' | ate are ate g ,

japan, though not in the League, has re- jected an Italian request that she define her atti- tude toward League of Nations penalties for Italy's invasion of Ethiopia. japan prefers a free

ing an export trade to Ethiopia.

Th Hon. NEWTON ROWELL, the Liberal

Canada would remain “true to the spirit of the League" in “its most (lifficttlt time”, notwith- standing aichangc of Government.

the lcttgtlt, even to ntilitary sanctions if MUssouNr persists in his determination to break“ the Covenant.

ale ate ate _

Senator JAIIEs PorE, Democrat, of Idaho, told the Senate the other day that if biussouNr successfully resists the League “huntaltity would be back to the days of the juttgle". He has just returned from Europe and urged that U.S. A. “exporters should not be permitted, for the sake of profits, to assist Italy in her war of aggres- sion. They should not be permitted to thwart the very plans of the League which \vc are urg- ing her to carry out. Legislation should be en- acted if necessary to enable our Government to prevent trading in such raw materials as will interfere with the sanctions of the League."

9K 9K 9K

The young Liberals of Quebec are again on the warpatlt. They claim that they were utilized by the Federal organization to camp in the Eastern Townships to help the Liberal candidates there and succeeded admirably. Voting day saw Liberals returned in all the’ Eastern Townships ridings; Hon. SAM GOBEIL, Postmaster-General, was even sent down to defeat in Compton. “Nmv,” they say, “we are goingvto make plain to heads of the party that the strength of the party lies in the Young Liberals, And we de- mand full and complete recognition of our rigltts; we are ltot going to play second-fiddle to a lot of paid professional politicians, $10 a night orators, $50 a week organizers.” Looks ‘bad for Prentier TASCHEREAU.

9K 9K 9E

The creation of a permanent “Empire Par- liament” in Lottdon, in udficlt all British posses- sions and the Dominions would be represented, has been proposed by Capt. NORMAN MAC- MILLAN, president of the National League of Airmen. Capt. MACMILLAN declares the devel- opment of aviation will permit the members of such a Parliament to remain in constant touch with their constituencies, however distant. “It would be possible,” llc says, “for the tnembcrs to reach their cottstitucrtcies in Canada in 24 hours; India, two days; Africa, three days; Australia, four days; New Zcalattd, five days. That is what aviation has to offer the British Entpire. If ad- vantage is taken of this it will place within our hands the power to maintain the British Empire in a way that was impossible for any Empire of the past." lrle might ltave added that television will enable the constituents to_keep a watchful eye on their “flighty" members.

3k it iii

His Grace the Duke of BUCCLEUCH, seventh holder of a title created in r663, who has just passed to his eternal rest on the eve of his daughter's wedding to H. R. H. the Duke of GLOUCESTER, was the chief of the aristocratic families of the Old Country. The BUCCLEUCHS are illtra-exclusive maintaining the high standard practised by Queen Victoria, to whom his mother was Mistress of the Robes. The Duke bore many titles, including Baron Scott of Buccleuch, I606; Earl of Buccleuch, Baron Scott of Whitchester and Eskdaill, r619; Earl of Doncaster and Baron Tynedale (Eng) r662; Earl of Dalkeith, I663; Duke of Queensberry Marquis of Dumfrieshire, Earl of Drumlanig and Sanquhar, Viscount of Nith, Torthorwold and Ross, Baron Douglas r684. He was in addition Lord Lieutenant of Dumfrieshire, Lord Clerk Register and Keeper of the Signet; Captain-General of the Royal Company of Archers. The Buccuzucas held no truck or social intercourse with the newly rich, disapproved of divorce, and allowed no “divor- cee or other scandalous person" on their social register. They maintained the old time tradition: and standards, attended Church twice every Sunday, morning at eleven, afternoon at four, having Scottish Episcopal Chapel; on each of their three estate: in Scotland to which all in» the vicinity are permitted to attend ‘lwithou money and without price." The Duke's mother we: one of the three beautiful Hltunnons, daughter of the Duke of Anaooltr, and hi: widow in. daughter of the 4th Earl of Bnnrono. Whoop Earl of Deanna, hemarriedin r893, the tenant: turned up their noses, and said he

chosen a. bride "wi' slanler

hope for ‘collective action 1n the cause of peace. Major Attlee ls an experienced parliamentarian, but he Inherits a dlfflcull: task. Lans- bury wlll take many followers and the Labor movement on the polltl-f cal slde wlll be disrupted, with an

or should be $25 a month for every bone flde citizen, male m- female, 21 years or more. (6). Children of bona flde eltlzens sixteen years old

‘Tl-IE CHARLUFPETOWN GUARDIAE

Thescliklberltart rtmuc roxuu

emg- ' up nu- t: q-‘oa in

(Wlnnlpeg Free Press) ‘mihrcicag’ can :1. 9 QIIQ I”

(Continued) _ II! i POLITICAL msnonssr! ma: 11mm: ramoalsug ma: mp4,,” m, “cw

(a) The Bcslc System of Dlvld- ends :nd the En- urcgement of Individual Enterprise. The state shall be viewed by Its citizens a; a, glgantlc joint-stock company with the resources of the province be- l-tlnd Its credit. The bona-flde cltt- zens are each and all shareholders entltled to bssle dividends sumclent to provide the bare neoesslt‘ of food, clothing and shelter for each individual and his famlly. The qualifications of citizenship shall be clearly defined and rigidly en- forced. N0 cltlnen shall be allowed to barter away or otherwise dispose

of his basic dividends beyond the

extent of the then current month, and thereby become a vagsbond or tramp with no nxed place of abode sustenance. Baslc dividends

wlll receive $5 a month. Those seventeen and elghteen years old wlll receive $10 a month. ‘Hlose nineteen, $15, and» these twenty, $20 a month. (These figures "are merely suggested for illustration

hand, especially as she herself has been develop- ‘

election only a few months away.

Once In u. whlle manufacturers

that

_ one of them. "Phase who have given, Statesman, who was Canada's first delegate to out the lnformatlon that no more

the League of Nations, gives the assurance that "like" W111 b‘) mlmlfflclufed

i make a wrong guess, and the guess

rocking chairs are going out Is

should send a. representative to vis- It any average gathering of women

,—a. club or other woman's organi- lrl other cation-meeting m homes, where_

words, under the Covenant Canada must go ' mu‘ Tmke" and slrfllfill chairs 9W ‘ available, to note whether or not

"rocking chairs are going out."—- Anna Carlton In the McPherson Republican.

It Is understood that Herbert Hoover. having served one term In the White House, ls preparing to serve another, thus Illustrating the general belief that. when once a man has been President of the United States he never ceases to wish to be President. Calvin Coolldgtfs famous renunciation of the renomlnatlon was not brought about by his modesty, but by the fact that some of the newspapers In the East which he most res- pected discouraged his ambition. l-Ie mlght also have had to fight against. the no-thlrd-term sentl- ment which has always prevailed. But: m. Hoover has had only one term, and ls said to have carried out of ofIlce the single determina- tlon to beat Franklin Roosevelt- Toronto Mall and Empire.

The telegraph, the telephone. the radlo. the moving picture, the pho- nog-raph, the flying machine-sev- eral effective inventions that John A. Macdonald and Hon. George Brown dld not llve to see-have made all editors, all electors, fa- mlllar with the party leaders and the leading publlc men. Al; one time every village knew exactly how thp result of Its polling would turn out on election day-If a vote went wrong the whole village guessed for days as to the Identity of the man who had “betrayed hls party" In the secrecy of the polling booth-Ex.

Canada has given a new fabric to the world. As a. result of experi- ments by research workers a cloth having the grain and texture as well as the durability of leather, has been made from Dominion spruce wood. It ls expected that the new cloth wlll not only provide abund- ant. opportunities for punsters, but that with its further perfection the forest resources of Canada wlll be considerably enhanced In value.- Emplre Review.

It I: not the Italian people but the lI-allan dictator who ls maklng wnr. It ls not danger to o. nations destlny but. danger to one man's political future that ls sending Europe down to a new hell. The Italian people, seeing Great Brltaln and France llned against. them might well want to call a halt. ‘The Itallln people. seelng their stock market convulsed by panic, with Issues breaking as much as 4o Points. might well want to drop the African campaign. The Italian people, seeing economic sanctions coming that inevitably mean hun- ger for the masses, might. on a vote declde sgslnat war. But Musaollnl, tapped by his own bouts and pro- mlser, prisoner -of hls own propa- lsnds. must go forward, and he u‘ not consulting the Itallan people._ New York Post.

Another story of : dog's devotion ""1 IOYIIW to man comes from Qulflllfi, Wash. A courageous fox terrier stood guard for two days and two nlghts over hls master's old hat on s lonely beach. ft declined food and would not let lnyone pick up the headlesr. When the owner returned to the scene of the long vlgllhe wns Ireeted wlth Joyous barking. The mcsterhsd dropped his hst there whlle the dog was ex. plorfng Imderbntsh, and ‘had gone home immediately afterward. ‘rruly, few human: are u faithful u the doja-Wlndaor Ste-r.

Probably not enough hi: made of the wonderful dlscovery that one can speak Hllllch well expression

l

Aberhart plan.

purposes.) This baslc dividend rate may be changed at any period to sult the standard of llvlng then pre- valent. These dividends are not to be given 0n a basis of so much work done. but as a bare support for citizenship, loyalty to the state and the best Interests of the country. Salaries or wages for work done wlll be bald as now, but. ln credit. not money (7). Any who are handicapped physlcally o: mentally should be given bonus dividend pro- tection. Individual enterprise must been encouraged In every way pos-

slble.

(It Is apparent front this ncltlcnrfl. ns from others which nppctn- Inter In the Ilnnnnl. tltnl. Ilmler tho Ab- crltnrt plan no one In Alberta In tn run-Ive nny part of his Inéomc lll the form of real or hnrd money; ntvnnlnz Dominion currency or lta PIIIIIVBIPHI. But l wnrkt-r- who ell- 11.115011 hltttsclf to work In Alberta for, any, $101) n lnnnth can demand payment In lcgnl tenth-r n: defined luy ntntnto and thln dentand would Ilntlunhlctlly Ito enforceable by lh-l courts. "Non-negotiable certificates“ ns described In the Manual would not ho lMZll tender. 'l‘hercforo no one In Alberta could be obllgrtl tn accept them ns wlufcn, nor could uny merchant be obliged to nrncpt tltcm In payment for goods. Molt- gngc companies could not he ohllg- t-tl In tnkc them In payment of debts. an proposed by Mr. Aber- llart In the answer to question 30.)

(c) This ls-the keystone of the Its lmpractlcablllty

wlll appear from lat/er seetlona of the Manual and from comment thereon.

(b) The Prlce Csntrol Under So-

clal Credit:

Periodically. a Commission of our best experts from every sphere of

lite wlll be lrsembed for the pur- pose of deciding upon a Ialr and

just prlce for all goods and s:r- vlces used In the province (B). The prlce must Qlve the producer. 1m- porter or distributor, a falr com- mlsslcn on turnover, and. at the some time, must not. exploit. the purchasing power of the consumer. Excessive profits wlll thu; be ellm- inated. To help make consumption balance and control production, a compensating prlce wil‘ be declar- ed from tlme to tlme. This compen- ratlng prlce wlll be flxed accord- lng to the fofcwlng formula:

Market price equals total con- sumptlon over total production by just price.

I

(The prIt-o of orl-ry commodity Io be sold In to he flxctl by n gov- ernment Imnrtl. As wlll nplvcnr Inter all wlurmt nntl Int-omen nr" to br- almllnnly rontrnllotl. Ettglnntl had n watt-nu something like thln but tum-It lulu-z cxm-tlltg, In the 14th cen- tury. tlu- lntpclllnpz cause helm: the IIIIKIIIPFH dlnlncallnn rnust-tl by llr- lllnrk llvnth. lllncr- thcn It Itnn ltorvr lnron utlt-tnplml on It INIII‘ nmvrnnvhlnlr wlmt In proposed In Allin-pin except, In Ilurosln nt prr- sent.

The difference between the lust price and the compensatlng p.'loe

wlll be made up to the retailer or conumer much In the snm~

way that. the basic Illvldrnds are Issued and recovered.

(Every prnhlmtt which flfll"! under the noelnl credit IFIIFIIIP In resolved by Mr. Alwrltsrt by the llmflll‘ prof-ea» of further Inflation Iltrntlgh Innunnrc of non-nrlrn- liable ct-rtlrlrntr-u," Illa rollnnee on this procedure wlll appear through- out. the lllllnllnl.)

(c) The Provlaltm for Continuous Circulation of ‘Credlt (not Money.) Credit Ia the lIfe blood of the

state or communlty. Under m elr-