Volume 2 - ElectricCanadian.com

THE BANK DURING THE WAR 349Empire. Accordingly early in 1916 the Dominion Governmentbrought these matters to the attention of the banks,and a series of circulars was issued by The Canadian Bank ofCommerce to its branches, asking their assistance in the effortsbeing made by the Government to increase production. Thebranches in country districts were instructed how they couldaid in the movement and were asked to send to the Extensionand Publicity Division of the Dominion Experimental Farm,Ottawa, lists of the names and addresses of farmers to beplaced on the mailing lists of the department to receive theliterature which it issued from time to time. The managerswere also asked as far as possible to impress the seriousness ofthe situation on the farmers, and it was suggested that, in allcases where the character and methods of a farmer warrantedso doing, offers of special financial assistance should be extended.Steps were taken to ensure the co-operation of the farmingcommunity in the movement to the utmost extent compatiblewith correct methods of tillage, the observance of which wasmore than usually important in view of the decrease in acreage.How well the farmers of the Dominion did their part that yearhas already been mentioned. The Dominion Parliament alsolent its aid by making permanent a temporary clause in theBank Act, adopted in 1915, whereby banks were permitted tolend money for the purchase of seed wheat. Later in the yearthe Act was further amended so as to permit banks to lendmoney to farmers or other persons engaged in raising livestock on the security of their herds.By the beginning of 1916 the market for sterling exchangehad become fairly steady, and the limitations which at theoutset of the war had been placed on sales by the brancheswere now entirely withdrawn. In May, Scandinavian exchangereached a premium of over sixteen perDutch exchange a premium of six and a half per cent., andcent, andthe branch managers were instructed to be careful to avoidloss when selling travellers' cheques for use in those countries.Later on, the amount of local currency to be paid for travellers'