Excerpt from The Onlooker, Vol. 1: A Literary Journal of Independent Critical Opinion on Public Affairs; February, 1921 Sir Henry Drayton, the wisest Of present-day Finance Ministers, on first taking Office emphatically announced There must be no more loans. Had all been endowed with his sanity and courage it had been well. At the first rumble we would have run to cover. In effect he also served notice on the banks that they must finance the Government, even though this should mean the curtailment Of private credit, since the solvency of the Government comes first. To-day the Government is the best customer of our banks, and a profitable one at that, since there are virtually no idle funds and our debt is owing to ourselves. Where would we in Canada be to-day if it were not for our magnificently administered banks; and where would the Government be? It is the fashion in some quarters to rail at the Big Interests, and the attempt is being made by the Hon. Mr. Drury - who has seen the handwriting on the wall - to mass the whole population, or that portion of it that can be beguiled by his cheap Sophisms, against that scientific co-ordination of wealth which is broadly known as Capital, and which, in the last analysis, represents the savings Of the whole people. We do not hoard in this country; we invest. We predict that the ill-advised and unpatriotic attempt will fail. It must be Obvious to any person, possessed of reason, that the people Of Canada can have no quarrel against themselves, and that an agitation having for its aim and Object political domina tion at the expense of financial solvency can only have one end irretrievable ruin for all classes. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.