~ v~ --.- --1--,¢s . w,’-

fo-ree-niiicrrasnp

PAGE FOUR "

'=i = totes and pension funds; businessmen and clergy- y _ y I _ ' i

THE GUAR D I-AN

Murnlal Daily (Founded la I881) Authorized us Secult (‘luau flail, Porn. Office Department, Ottsswrl.

_ Tho Illriml (iuardliiu Publishing Co. lifltar uriil llunaglng Director, J. B. Burnett. Aunvlulo Editor, Frank \Vll|sal'.

"The Strongest Memory is Weaker Than

. the Weakest Ink." CHARLOTTE/TOWN. SATURDAY, NOV. o. 1948

Very Welcome Visitors

A warm welcome awaits Col. George ‘A. Drew, K. C., LL. D., Progressive Conservative leader, and Mrs. Drew on their arrival in Char- lottetown tomorrow. As a soldier. lflwYerr "me" speaker and parliamentarian Colonel Drew, apart from the position he now holds, rs‘ one of Con- uda's most distinguished citizens. Hrs Wife. will)“ charm has proved a great asset to her husband in his career, is the daughter of another noted Canadian, Mr. Edward Johnson, C. B. E.,_"l""°" ger of the Metropolitan Opera CoiilPflnY _"‘ Ne“ York- This will be Mrs. Drew's first visit here. although Colonel Drew has spoken both in Charlottetown and Summerside on a former occa-

IIOII.

As newly elected Conservative leader, Col- onel Drew will have an important message for all our citizens in his address in the Empire Theatre on Monday evening. But apart alto- gether from politics, the fact that he and Mrs. Drew have taken this early opportunity to meet our citizens personally is a matter of general satisfaction.

To Benefit Fishermen

The P-xovincial Government is to be com- mended on its decision to provide bait storage facilities in Charlottetown for the benefit of cod fishermen. Lack of such facilities has long been a matter of complaint. An extension to the exist- ing Government cold storage plant is being plan- ned with Fcdcral assistance, and with the pros- peg} of q new plant for drying fish to be lir operation at the airport grounds next year, a very substantial improvement in the industry may be looked forward to.

Development of new freezing methods is providing wider and more profitable markets for our fresh fish and in this connection it is inter- esting to note the report in yesterday's Guardian of the new type of C. N. R. refrigerator car. Tests nrade in connection with a recent large shipment of frozen fruits and vegetables showed highly satisfactory results, this being the first of a series of tests which will include shipments of fresh fish as well. The car has been loaned to the Fisheries Research Board for this pur- pose.

ln view of these and other developments in the fisheries industry, it is to be hoped that the Government will shortly see its way clear to es- tcblish a Provincial Department of Fisheries, which was one of the major recommendations of the P, E. I. Advisory Reconstruction Committee report. The annual cost of such a department was estimated at $ll,500, — surely not an un- due expenditure in view of the importance of the industry and the advantages that would accrue.

Among other things, the Advisory Commit- tee recommended that the proposed new depart- ment make an investigation and survey of the possibilities of setting up industries which are allied to the main fishing industry. Such a sur- vey would include the manufacture of certain types of fishing gear and other equipment, as well as the setting up of a small chemical plant for such purposes as refining of fish oils for medicinal use, manufacture of glue from fish offal, production of fisli meal and production and processing of Irish moss and kelp. The latter development was anticipated some time ago, but has not materialized.

l‘ llur Banking System

The story of Canada's banking system is not as well known as it should be. lt was told in stimulating detail in an address delivered yes- terday by Mr. Robert Rae, prcsidentpf the Ca- nadian Bankers’ Association. Hare are some highlights:

Five times in recent memory the banks have been put to the acid test," the crash of world markets in i929; Britain abandoning the gold standard in l93l; the closing of every bank in the United States in the "bank holiday" of i933 while Canadian banks carried on business as usual; the outbreak of war in i939; and re- construction following l945- During all these tests no Canadian has had to fear for the lass of a single dollar of his bank deposit. The system proved sound and safe under every test.

There are ten competing banks in Cflllfldfl with seven million customers. For the protection of depositors and to facilitate credit a whole body of legislation exists. The charters are provided by the Bank Act and they expire simultaneously every l0 years. They can be renewed only after inquiry and revision by Parliament. There is no other businessdn Canada and no other bank- ing system in the world where banks and bank- ing are subject to such scrutiny before the su- preme tribunal of the nation.

An officer of the Finance Department, the Inspector-General of Banks, carries on under the law a constant xamination of conditions in each bank and keeps the Minister of Finance continuously informed. Returns are required to be made by these banks to the Minister from time to time, some of them to be laid before Parliament. In addition to regular audit by the banks’ auditors, a shareholders’ audit is con- ducted by qualified accountants from a panel approved by the Minister of Finance. The Bank of Canada also exercises a definite influence as tho instrument of national monetary policy.

The banks are owned by some 56,000 regis- tered shareholders, about 75 per cent. _of them Canadians. They come from every walk of life. Shareholders of one typiltal bank are registered as of “Odiflarnnt and widely varied occupations.

.. Tlray inclirdrfarmon and ranchers; lumboriaclis

null mirrors; phm and rtlvldons; es-

J

men. For from making fortunes out of their investment in bank shares, they earned last year 3.8 per cent. on their equity in the bani". WI!" trasted with 4.2 before the war.

These shareholders annually clef some 192 directors who in turn appoint the seniorimarr- agement and through the general managers and executive staff supervise the activities of an army of employees. When the war started bank staffs totalled 25,ll2- At the end of August this year the staffs numbered 4l,6l6, of whom '50 per cent. are women. Staffs have been increased in numbers 65 per cent. compared with pre-war, to handle the larger volume of business in Can- ada's greater economy.

Total bank payrolls last year amounted to nearly $79 million, H3 per cent. over the pre- war figure. ln 3,385 branches bank customers maintain 7,221,052 deposit accounts. Deposits by the public, as distinguished from those by governments, total $6,2l7 million, of which just over $4 billion is in the savings accounts of in- dividuals. There are approximately 800,000 bor- rowing customers, all of whom, of course, are depositors too. '

EDIIURIAI. NQTE$ ' this date l8l7.

Princess Charlotte died

i is

Tomorrow Pro-Remembrance Day Sunday.

Tomorrow 24th. Sunday after Trinity and

the 25th. after Pentecost. ' i ‘A’ t R

Now let all the hind-sight prophets explain

why they knew Truman would make it. i i i ‘k

Hon. John Bracken announces that he will run at next election for his present seat at Bran- don.

Q A’ ii i

The fishermen's needs are being looked af- ter in a business-like way as evidenced by the Provincial Government plan to provide bait fa- cilities for cod fishermen.

i w i i‘

Mr. Andrew B. MacRae is one of the names mentioned in connection with the forthcoming nomination of Conservative candidates for Queen's County.

_Colonel the fionf Gleorge and Mrs. Drew arrive by plane from Toronto tomorrow evening. This will be the Colonel's first visit since being chosen Leader of the Progressive Conservative Party. Thrice welcome-

Bank clearings have always been regarded as an accurate barometer of trade. In Septem- ber they reached the record total of $6,709,737- 385. As far as this country is concerned times could hardly be better.

I l‘ i O

_ _lt is_reported that the cancer diagnostic clinicprojelcts for Charlottetown and Summer- Side. lllV0lVlllg an expenditure in the next few months of some $20,000, have been approved by the Dominion Government.

Today the famous Wright Brothers'"Kitty Hawk airplane, first power driven heavier than air machine to accomplish human flight, starts its journey back from England to the United States on the Mauretania. Its first flight was 4S years ago, Dec. l7, i903,

i‘ i‘ I Q

Few countries could survive a rail strike as well as Newfoundland rs doing. The greater part of her population is located in seaports and even ll'I normal times depends more upon ship- ping than on railways. The Newfoundland schoon- cr is today the very lifeline of the Ancient Col. I I I I

Mr. F. Connolly, Deputy Minister of Re- ‘illllslfllctlvfl. Published good news in his an- nouncement that farmers this Fall will be pro- vided for by the cooperative project between the Federal-Provincial Governments and farmers themselves. Potato storage will be supplied this Fall for no fewer than 750,005 bushels of pota- toes.

P I 1 O

Madame ‘Curie born tomorrow's date 1367_ Slre worked jointly with her husband Pierre Curie, Pwfeiif-‘r of physics at the Sorbonne with whom Slre discovered polonium and radiumlThcy re- ceived the Davy Medal of the Royal Society, and shared the Nobel Prize for physics, 5|"; succeeded her husband as director at the Facul- ty in Paris, and in l9ll received the Nobel Prize in chemistry.

The Canadian Red Cross I949 appeal scheduled for next March, will have an obj“. if" 0f $5,000,000, it is announced. Members of the society's central council,_say it was esti- mated the SllIllAV/Ill be the minimum required i° ""7 0" their work throughout Canada for a 12-month period. The i948 objective was $3,000,. D00. Officials said the higher i949 objectivg i; the result of exhausted surpluses.

_ _ 1 u a u

Thc_Domrnron Bureaulof Statistics reports a drop rn solos of mens_and boys’ clothing but at the same'fime an increase for women's‘ dresses, coats, suits and mrllrnory. Even greater gains are shown forlhausehold furnishings. As a Canadian Press writer points out it probably means that friend husband must have gone with. out a new suit last September to buy his wife that new at, or the two of them splurged on household appliances.

\' Q

Christmas holiday promotions will be start- ed earlier than usual this year, according to a report by the National Retail Dry Good; A5". cration. Stores are planning the biggest p". Christmas promotions in history in an attempt to better last year's record-breaking Christmas volume. Most stores will begin their holiday pro- motions in the early party of November, turn- ing their promotional guns on "price appeals" to get mare unrt sales from advertising invest- ments. Dealers are warned to be realistic about price lines this year. -

I I I

Bucrrm l Bonus

0 O RED FOXES Fuccv PRoTeq-eo

BY LAW

4

. THE _ GUARDIAN. jofiARLQiljlETOwfi

__.q§-n-_-__n__—--

“icccorzome To "rue MlNlSTER, "RED" FoxES Ans now A MENACE.

»_¢_.__.

Q>GQQ¢OQM€QOGQM I wosoo-Q-eo-Q-oo-Q-e

Old Charlottetown pl-‘Bl-lc FORUM

(And 7' l" P‘) This column ls open t-o the —- | discussion by correspondents of questions of Interest. Tho Guardian doe: not necumr- lly endorse the opinion of correspondent;

OLDTIME PEDAGOGUES

According to the first report of the first. official inspector of schools. published in 1837, there were 52 schools and 1,649 scholars on the Island. Th report gives a gralphlc ‘gllepcrlptfiok of the educa- tiona con tori o the country at _ that time. The school houses used‘ weslllfivlghgsflogursulfhgt éhel my?“ to be shifted from place to place, I Centre Wm be interesied‘t' d1 when the population became moreithe follow," t f ° "B dense in one locality the school! g 9x0"? "' mm a re‘ was removed from the thinly settled l Gem’ uncle published ml the mm’ part and the children of that sec- d?‘ Freihlaress‘ 1 qume" I lion left without a school. lt was‘ as‘ P“ a Year 53° bllmdml the cusmm for ‘he teacher m re_ freckle-faced Frances Johnston left. ceive his board by going from house a job l“ ‘he Public LlPTPTYFDQ | to house, in whjch case he was re_ Art Museum at London.‘ Ontario to garded both by parents arid clril; "y, he’ ‘luck 3'- bulldlng "P d,“ as lime better than a can? Chrldr-ens Agrt Centre in Charlotte- mon menial. He was expected to WW"- P- E- I- 57193 bad‘ l" 0n- be handy m ruck the' cy-ad]9’ make tario this week as a delegate to the papdfor the baby, and saw fit-e-‘galgcgiptrir n a/Iiiseumsi tssopirfiior; woo, , o ee,an sesu o

Many curious anecdotes are told eflilluiltism l0!‘ U16 We)’ the Chm" of the oldtime teachers, their mel- loitetown project has turned out. hods and eccenlricltles. John Slal- “It may be some help and en- tary, of the East Point. School-- couragement to those anxious to tho only school on the Island at start art centres in other small that time ln which Latin vrasurities,” she sold. adding that since taught-in calling the roll would tlic Charlottetown Ari Centre open- substiiutc Latin thus: Benton Pri- ed last. January lour hundred mus. Benton Secundus. Beaten Ter- children have flocked to the class- tius and so on till he got flnislied e5 whim rgnge grin-n dravqjng and iryiith thcPBeatons, and then came I painting to clay modelling.

WWW ‘Flmlls- t-‘lv- “The youngsters were interested

07mm" 9m EPITlYIdTTmdN in Barbara Ann Scott and tlic been a coirrt-crior in the Old olyn\pic Games, so we mam. Country, and Cflfflfld. some of inc r models o; skaters’ skpjumpers and dignity of the court into the excr- ; other Obie"; to do Wm, else of his new function. Ii ivastojympic Games» she “id his custom to call liis pupils ln from I ' '

me pmygrouml with "o-Vel- 03'“! iCllHFIOIIEIOWII she has inaugurated fifmfcllgg? rsgillg?lll'nef‘;1lgfii' :'5ml5|: ' a radio broadcast which deals with g ~ ° “a jlslarrd history-written for child-

fizcfi til: égfifwlsc hem” c105" ren. Instruction ls also given in

handicrafts

Goose River boasted a school- ' house which was once llie cabin of To dam the classes only am for a Sh", that had been wrpvkwl ,r‘hlldrerr between the ages of lhrcu