Volume 2 - ElectricCanadian.com

THE BANK DURING THE WAR 325was possible to do so in London. The London office wascompelled to answer that, until the Imperial Government hadfinanced its requirements and until other difficulties in connectionwith the situation, such as the effects of the endingof the moratorium and the closing of the stock exchanges,were out of the way, there was no prospect of selling BritishColumbia securities in London. Early in August the SaskatchewanGovernment had also desired to borrow two milliondollars in London and to ascertain the prospects for the renewalof bills for a million and a half of dollars maturing in November,already placed in Great Britain, and it had been necessary toadvise them that it was impossible in the state of war thenexisting to consider the possibility of any new financing. Withregard to the renewal of the maturing bills, all that could besaid at the moment was that it was impossible to forecast thefuture. Later on, the horizon might become somewhatclearer.As soon as war was declared, the protection of thePacificCoast cities, Victoria and Vancouver, from naval attack,became a vital matter. At the end of July, Germany had asmall but powerful naval squadron in the Pacific under AdmiralCount von Spee with a base in Kiao-Chau, China, and untilthis squadron was destroyed at the Falkland Islands, it wasa standing menace to all British ports and Allied shipping onthe Pacific Ocean. One of the first steps taken for the betterprotection of British Columbia, as soon as the war began,was the purchase by the late Sir Richard McBride, 1 Premierof British Columbia, under authorization from the Governmentof Canada, of two submarines which had just been'Sir Richard McBride, K.C.M.G., (1870-1917), was a native of New Westminster,B.C., and was educated at Dalhousie University. He entered public life in 1898 asmember for Dewdney, B.C., in the local legislature. In 1900 he joined the BritishColumbia Cabinet as Minister of Mines, and in 1902-03 was Leader of the Opposition.In 1903 he became Premier and held that office until December, 1915, when he acceptedthe position of Agent-General of the province in London, which he held until his death.He was a delegate to the Interprovincial Conference in Ottawa in 1906, and to theColonial Conference in London in 1907. He was knighted in 1912.