Volume 2 - ElectricCanadian.com

334 HISTORY OF THE BANKDuring the first half of 1915 the events of the war led toan appreciable increase in the premium on United Statesfunds in Canada, although only on one occasion did the raterise above one per cent. This led the Canadian banks toadopt the method of dealing in United States funds at themarket price, instead of absorbing the premium as had inthe past been the custom in most cases. As yet the manufactureof munitions had not been organized in Canada onthe scale which was shortly to create unexampled activity intrade. During the first three months of 1915 business wasslack, and as a result a large surplus of silver coin accumulatedin the tills of the branches. Arrangements were made to havethis coin carefully sorted and disposed of through the variousAssistant Receivers-General.In March the bank advertised its willingness to makeenquiries into the possibilitiesof new markets abroad forCanadian products, there being some expectation, as a resultof conditions brought about by the war, of the extension ofCanadian foreign trade, particularly with other parts of theBritish Empire. Later in the year, with the object of presentingaccurate information about Canada in a form whichwould be interesting to the general reader, the bankcommenced the issue of a Monthly Commercial Letter, whichsoon achieved great popularity and a wide circulation, and ifone may judge from letters received by the bank, has proveda success in its chosen field. Perhaps not the least evidenceof several other similar letters.of this is the coming into beingAnother method of distributing information adopted for useinside the bank about the same period was the issue from timeto time of pamphlets containing hints and ideas as to routineand bank administration, consisting largely of materialgathered from the experience of officers throughout the service.These afforded a channel for the distribution of valuable ideasand information about banking topics in general.The year 1915 was marked by a considerable amount ofwar legislation which had its effect on banking. An amend-