Volume 2 - ElectricCanadian.com

THE BANK DURING THE WAR 331Fund, which raised such large sums and did such admirableservice in caring for the dependents of soldiers, was organizedsoon afterwards with H. R. H. the Duke of Connaught, thenGovernor General, at its head. The Canadian Bank ofCommerce joined with all other Canadian banks in negotiatingcheques of this fund without charge at its branches, irrespectiveof the bank on which they were drawn. A like policy waslater adopted towards all other funds of a similar character,and a special rate of interest was allowed on deposits made onbehalf of such funds.An untoward incident of the year in banking circles wasthe failure of the Bank of Vancouver, which suspendedpayment on December 14. It was, however, a small institutionwith a purely local business and the failure had no seriouseffect on the general financial situation in Canada.The condition of affairs in Mexico was a source of someanxiety throughout 1914. It will be recalled that shortlybefore the outbreak of hostilities in Europe, the United Statesmade an abortive attempt to punish the Mexican guerillachieftain, Villa. This fiasco naturally had its influence onconditions in Mexico City, and as early as January, 1914, thebank instructed its branches not to sell drafts or telegraphictransfers on Mexico City for sums in exceess of $5,000, gold,without first obtaining permission from the Mexico Citybranch by telegram. Months before any other country wasobliged to adopt a moratorium, such a measure was in existencein Mexico, and this tended to increase the difficulties oftransacting business there. In fact, in April conditionsbecame so unsettled, and the feeling against the United Statesso strong, that it was a question as to whether it would be wiseto keep the branch open, especially in view of the restrictionsplaced on telegraphic communication with Mexico by theUnited States authorities. These conditions, however, soonpassed away.By January, 1915, the inroads made by enlistment on thebank's staff were so heavy that it became necessary to seek