That is all they are concerned with, nothing but the numerals. They want to know whether it is a one or a ten, and they are praying heaven it may be a ten. But beyond the numerals they do not
give a hoot what appears on the bill, as long as they are satisfied that it is a bona fide bank note.
In connection with the setting up of the Bank of Canada, our central bank, it is of the highest consequence that that institution should continue to be a banker's bank and not a public bank. The credit of Canada is high, but it has recently had one or two shocks. Daniel Webster, speaking in the American senate eighty odd years ago in eulogy of that eminent American financier, Alexander Hamilton, one time secretary of the United States treasury, and father, I think, of the banking system as originally founded in the United States, said of Inm, "He laid his hand upon the dead corpse of public credit and it sprang upon its feet." There are dangers in this country through repudiation of contracts, through violation of solemn compacts. Instances have occurred in two provinces. If we are not careful we may find that not provinces only, but even the parliament of Canada, by misguided financial legislation, have laid their hand upon the public credit and the public credit has crumpled under its touch.
Topic: BANK OF CANADA
Subtopic: MAJORITY CONTROL BY GOVERNMENT OF CAPITAL STOCK AND BOARD OF DIRECTORS