Then He chose you for his whisper,
And you’ve found it, and it is ours.
It is sentiments like this from people who have been customers of the Company for years that should spur us to honour the great name that our Company has earned during its two hundred and fifty years of serving the people of Canada and make us the more proud to be servants of this great institution.
THE SITUATION
In Canadian Trade and Finance
(From Reports of the Union Bank)
THE Canadian official record shows that the increase of wholesale prices of all commodities reached in May, 1920, over the average prices of the year 1913, was 163 per cent, and that, as between the figures for May and December, a decline of almost fifteen per cent. was recorded. The decline was especially noticeable in the prices for grains, fresh vegetables, breadstuffs, tea, coffee and sugar; certain items in the textile group–cotton, silks and jutes, also show declines.
Canada’s Volume of Trade Increases Half Billion
Notwithstanding the fact that an adverse balance will be shown for the first time since the outbreak of the war, the year 1920 was a record one so far as the total trade of Canada is concerned. Statistics for the twelve months ending October, 1920 (the latest figures available), show that the total volume of trade amounted to $2,603,423,987, an increase of $500,000,000 as compared with the previous twelve months’ period. The unfortunate feature, however, is the excess of imports amounting to more than seventy-five million dollars, which compares with a favorable balance of about three hundred and fifty millions for the twelve months ending October, 1919. Practically the whole of the half billion dollar increase in the total volume of trade is due to the growth of our imports for our export increase amounted to approximately only eleven million dollars. The important feature of the statistics is the record of our buying and selling with the United Kingdom and the United States. Compared with last year, our imports from the United Kingdom have increased to the extent of nearly one hundred fifty millions.