Volume 2 - ElectricCanadian.com

THE BANK DURING THE WAR 3271914, and to many people it will no doubt come as a surpriseto learn that the bombardment of Victoria and Vancouver bythe squadron ofCount von Spec was regarded at that timeas so probable that measures were taken to remove and protectthe bank's reserves in those cities. Had the secret been allowedto leak out, it might have caused a panic in western Canada.On October 1 the superintendent of the bank at Vancouvertelegraphed that he had received confidential information(said to emanate from the naval authorities at Esquimalt,B.C.) that two or three heavily armoured hostile vessels wereon their way from the Far East, and were expected to arrivewithin a week and to attack Victoria and Vancouver. Heasked the head office to try to obtain authentic informationfrom Ottawa. Enquiries at the capital practically confirmedthe news, but partial assurances were given that the Germansquadron could not arrive before October 5 or 6, and that,meanwhile, British ships were on the way from South Americanwaters to intercept them. It was also learned that theDominion Government was that day (October 1) consideringthe removal of its funds from the British Columbia cities.The superintendent at Vancouver was asked to advise whatdisposition of the funds and securities of the bank he wouldrecommend, and was informed that the president of theCanadian Bankers' Association (Mr. D. R. Wilkie) had telegraphedthe clearing houses at Victoria and Vancouver suggestingthat settlements should be made in future by draftson eastern cities. The recommendation of the superintendentwas that all gold and securities should be sent by express toSeattle and Portland, and the gold was shipped accordingly.The securities and about $850,000 in notes of the bank weresent to Seattle in charge of four officers of the bank, whoaccompanied the shipment. Bank legal tenders were sent byregistered mail to Winnipeg. An extra safe was placed inthe Seattle branch to accommodate the wealth thus broughtto the American city.