Volume 2 - ElectricCanadian.com

120 HISTORY OF THE BANKendowment of a scholarship in Economic and Political Sciencein the University of Toronto. In the following year, with aview to encouraging the members of the staff in the study ofthe theory of banking, and training them to approach theirdaily tasks in a more professional and scientific spirit, the Boardoffered prizes of $25 and $50, respectively, for papers to becontributed by them on subjects selected by the CanadianBankers' Association. In later years similar competitionswere held by the Canadian Bankers' Association itself, and in1894, out of the thirty-five essays sent in, twelve were written byofficers of The Canadian Bank of Commerce, while out of thefour prizes awarded, the first and second in the senior competitionand the first in the junior competition were won by officersof that bank. From this time onward will also be noted theadoption of a more generous attitude towards movements of anational or philanthropic character which involved considerationsof public service.The year 1892 was signalized by an innovation in Torontothat contributed materially to public convenience: the oldfashionedstreet cars drawn by horses were replaced by anThe improvement quickly spread toelectric trolley system.other towns and even to the rural districts, and the process ofconstructing radial railways, both for passengers and freight,began shortly afterwards. Only one who has lived in thehorse-car period can realize what a change has been effectedby the trolley in the social habits of the country, or the shiftingof the centres of trade which resulted therefrom, with itsinevitable effect on banking.In 1893 The Canadian Bank of Commerce enteredthe western field, establishing a branch in Winnipeg, underthe management of the late F. H. Mathewson, a trustworthyand able banker, who had received his early training inThe Canadian Bank of Commerce, but had left its employ andsuccessfully served another bank in Winnipeg during thetrying years of the Manitoba land boom. At the annualmeeting in June, Mr. Cox explained to the assembled