"Of course it is. Railways can't be built out of earnings of lines built last year. Traffic's too thin; has to be developed. Mackenzie's building lines for a real population Canada, my boy, is a terrific country to railroad. The C.P.R. got land and cash grants. Mackenzie takes Government-guaranteed bonds. The whole country is on the same road. We import people on to homestead land and we have to borrow money to set the people up so that they'll become real Canadians——"
"Yes, especially at election time. But tell me—who finally owns these railroads?"
"Well, you've got me. Nobody has figured that out yet. Everything is too new. All I know is that Governments are behind Mackenzie, and the people elect the Governments, and the people want the roads, and if they don't get 'em the Government probably goes out. Anyhow I take off my hat to Sir William Mackenzie as a great man."
Nine-tenths of Canada used to think that Mackenzie was a great man. The more he borrowed in England on Government-guaranteed bonds, and the more he invested in Mexico and South America, and the greater number of street railways, power plants, transmission lines, ore mountains, new towns, smelters, docks, ships, whale fisheries, coal mines and land companies that he and his able partner Mann were able to octopize, the greater the country thought both these men were—and especially Mackenzie.
Toronto Board of Trade once gave a dinner to these men to celebrate the fact that by the building of the new line to Sudbury at a cost of about fifteen millions, Toronto was at last actually located on a Mackenzie road and had a right to be made the headquarters of the system. A deer in some places could have jumped from that line to the new line of the C.P.R. built at the same time—and about the same cost. There was no farmer in Ottawa to prevent the C.P.R. from getting a charter to double-track this line. It was the same year that Mackenzie inaugurated the Canadian Northern line of steamships, the two Royals, and for lack of tidewater was compelled to dock them at Montreal under the shadow of the C.P.R., who of course did not join in the civic welcome. And in the same year people were talking—as they are now again—about Toronto and Port Arthur becoming ocean ports. The wonder was that Mackenzie did not see to it. But he was fairly busy, tying Halifax to Vancouver by the Yellowhead Pass, and giving Provincial Cabinets new ideas about government.
Without a doubt William Mackenzie had a mandate from this country to do a great work—and he overdid it. Bankers and other financiers agreed that he had found new ways of investing creative money. Scarcely a teacher of geography but admitted that Mackenzie was changing the map of this country so fast that a new one became necessary every three years. New towns sprang up at the rate of a mile a day of new railway built by Mackenzie. Every new town became a monument to this man's faith in the future of Canada. Even the old city of Montreal, preserve of the C.P.R., lent its mountain to Mackenzie for a tunnel and a "Model City" on the hinter side.
There was always money to be had. A map of Canada in Mackenzie's satchel when he went to England to see money lenders seemed under his talk as big as the whole British Empire. It was not common Empire patriotism to refuse either the money or the guarantees for the bonds. The whole of Canada backed Mackenzie's notes. It was he, not Sir Thomas White, who invented the principle of Victory Loans whereby the nation becomes your banker. Between building a new line and operating a line built last year, there was no system of accounting that could audit his books. The centipede became so vast and complex that no banker could begin to understand it. Mackenzie never made the effort. He was developing Canada.
The Saskatchewan valley was the one great trunk Eldorado, the greatest discovery of natural resources ever made in Canada. The settlers in that valley wanted more people, the people wanted the railways, the Government needed the voters, and Mackenzie wanted settlers, people, voters, Government and all. If a Government was obstreperous, Mackenzie might lend a heavy hand to help turn it out at the next election. It was not proper for a Government to obstruct him. He was the over-man.
In no other nation has there ever been a man who could play such a prodigious and prodigal game with the resources of the whole country. Mackenzie mobilized the nation before the war. Millions of people in Canada used to regard him as a sort of magnified Daniel Drew—the father of Wall Street and watered stock and corrupt-contract railways. But Mackenzie was a broader man than Drew, with a much higher sense of honour. Drew admitted that he was a wonderful Methodist, that he had been a profiteer of the Civil War, and that he had starved a railway of rails so that it killed a large number of people in an accident. Mackenzie was no Methodist; and he never was a profiteer from any emergency of the people. He wanted Canada to prosper. All his profits must come from greater wealth in Canada, which he did much to produce.
Mackenzie had more faith in Canada than most of the politicians had. He wanted a great Canada, chief Dominion in a great Empire, The best way to conserve a nation's wealth, he said once, is to develop its resources. We never had such a developer. He never was a born railwayman, any more than he was a pure financier. He was a colossal exploiter of national resources by means of borrowed money. In the era before Mackenzie we had Clergue at the Soo. Clergue was a pigmy forerunner of Mackenzie. What Clergue did in Algoma the other man aimed to do for the whole country, And he almost did it.