MONEY AND CREDIT
255
(o o
Miles
Passengers No.
Freight Tons of 2000 lbs.
Receipts
Working Expenses
Net profits
Capital paid up
1910 1911
24,731 25,400
35,894,575 37,097,718
74,482,866 79,884,282
£ 35,757,700 87,546,698
£
24,750,000 26,206,957
£ 11,007,700 11,339,741
£ 355,419,842 305,737,840
In 1911, of the capital, $148,217,072 represented Federal Government aid (exclusive of the cost of Government Railways, $101,595,694) and 153,962,184 from Provincial Governments and Municipalities, The latter amount does not include cost of the Temiskaming and Northern Ontario Railway ($16,181,835). The expenditure by Dominion Government on National Transcontinental Railway up to March 31, 1911, was $95,423,086.
Electric railways in 1911. 49, mileage 1,224 ; passengers during the year, 426,296,792; paid up capital, $111,532,347.
On March 31, 1911, there were 13,324 post offices. Letters sent during the year, 504,233,000 ; postcards, 50,000,000; registered letters, 11,584,000 ; free letters, 16,382,000 ; closed parcels, 180,000, and second, third and fourth class matter, 103,425,000. Gross revenue, $12,212,952, net revenue, $9,146,999, expenditure, $7,954,270, There is now a uniform rate of postage of two cents to the Dominion, also between Canada and the United States, the United Kingdom, and all other parts of the British Empire. Money order offices on March 31, 1911, 3,501 ; orders issued (1910-11), 4,840,896, value $70,614,862. The Ocean Mail subsidies paid by the Government amounted to $1,918,941 in 1911.
There were 42,055 miles (8,150 being Government) of telegraph lines in Canada in 1911 and 172,897 miles of wire (exclusive of Government lines), with 3,852 offices. There were in 1911 687,728 miles of telephone wire, of which 576,713 miles were urban and 111,015 rural, and 302,759 telephones. The earnings of telephone companies in Canada in 1911 amounted to $10,068,220, and the operating expenses to $6,979,045.
Money and Credit.
The Bank Acts of Canada impose stringent conditions as to capital, notes in circulation, limit of dividend, returns to the Dominion Government, and other points in all chartered and incorporated banks. The Dominion Government by statute must always hold as security for the redemption of Dominion notes issued and outstanding up to and including thirty million dollars, an amount in gold or in gold and guaranteed securities of Canada equal to not leys than 25 per cent, of the amount of such notes, the gold held to be not less than 15 per cent, of the amount. To secure the issue of notes in excess of thirty millions it must hold a dollar in gold for each dollar of notes. On January 1, 1912, there Avere 29 incorporated banks making returns to the Government, with 2,639 branches. The following are some particulars of the banks : —
Calendar Year
190? 1908 1909 1910 1911
Average Capital Paid up
Dollars
95,953,732 96,147,526 97,329,333 98,787,929 108,000,256
Average
Notes in
Circulation
Dollars
75,784.482 71,401,697 73,943,119 82,120,303 89,982,223
Average Total on Depo.sit
Average Liabilities
Average
Assets
Dollars Dollars i Dollars
654.839,711 769.026,924' 945,085,708'
658,367,015 , 762,077,184' 941,290,619
783,298,880 882,598,547 1,067,007,634,
909,964,839 ,1,019,177,601,1,211,452 3.51^
980,433,788 1,097,661,393 1,303,131,260!
Percentage of Liabili- ties to Assets.
81-32 80-96 82-71 84-13 84-23
