Volume 2 - ElectricCanadian.com

THE YUKON ADVENTURE 189from losses cannot be claimed, the ultimate result of theventure repaid the bank well, even when the vital part playedby it in the opening up and developing of a new part of Canadais left out of account. It was of course evident, as timewent on, that changes in the management and personnel ofthe staff in Dawson were advantageous, and even necessary,in order to bring to the appraisement and conduct of thebusiness entirely fresh points of view and opinions untrammelledby settled convictions based on several years oflocalexperience; for the latter, although undoubtedly of greatvalue, might well in that sanguine atmosphere have a tendencyto engender undue optimism, and a consequent measure ofdisregard for what appeared to be the "cramping" influences ofrecognized methods of lending.In later years there were a considerable number of "sick"accounts at the branch requiring "nursing," some of whichinvolved protracted litigation. These less pleasant tasks fellto a later management. The ultimate losses due to largedragging mining loans were really surprisingly small, but itmust be conceded that this desirable outcome was materiallyaided by the advent of the large dredging and hydraulic companies,which purchased certain properties taken by the bankas security.The annual branch inspections took place at Dawson asat other branches of the bank, and their value was perhapsmore fully realized there than elsewhere, because of theremoteness and inaccessibility of the place, which madecommunication by mail so slow and unsatisfactory, especiallyin the earlier years of its history. This rendered it necessaryto accord wider discretionary powers to the local managementthan would under other circumstances have been deemedprudent. In the light of experienceit is not difficult to seehow mistakes could have been checked more promptly, ifnot entirely avoided; Dawson was a success, but itmight havebeen a bigger one. On the other hand, had the officers of the