MONEY AND CREDIT
235
The traffic on Canadian railways in the last two years was : —
Vrs. I Miles
1896[ 16,387 1897. 16,687
Passengers No.
14,810,407 16,171,338
Freight Tons
Receipts Dollars
24,266,825 25,300,331
50,545,569 52,354,277
Working
Expenses Dollars
35,042,055 35,168,616
Net profits Dollars
15,502,904 17,185,611
Capital ]iaid up Dollars
899,817,900 921,858,232
In 1897, of the capital paid up, 149,939,386 dollars represented Federal Government aid, and 46,782,254 dollars aid from Provincial Governments and Municipalities.
The number of electric railways in Canada in 1897 was 35, with a mileage of 535 ; the number of passengers carried during the year was 83,811,306 ; the total paid up capital was 18,727,355 dollars, and the bonded debt, 9,894,452 dollars.
On June 30, 1897, there were 9,191 post offices in the Dominion. During the year ended on the foregoing date the number of letters sent through the post-office was 123,830,000, of postcards 26,140,000, of newspapers, books, &c., 26,640,000, and of parcels 369,570. Newspapers sent from the office of publication are carried free. Their number in 1897 was estimated at upwards of 74,319,976. The letters and postcards posted amounted to 28*88 per head, and the other articles to 19'54 per head. Revenue, 4,311,243 dollars ; expenditure, 4,897,783 dollars. A uniform rate of postage of three cents has been established over the whole Dominion. The number of money order offices in Canada in 1897 was 1,349 and of orders issued 1,162,209, their value having been 13,081,860 dollars.
There were 29,318 miles (2,786 being Government) of telegraph lines in Canada in 1897 and 70,761 miles of wire, with 2,572 offices, and the number of messages sent, as nearly as could be ascertained, 4,313,925. There were in 1894, 44,000 miles of telephone wire, and 33,500 sets of instruments ; 72,500,000 messages were sent. The returns for 1897 do not vary greatly from those of 1894.
Money and Credit.
The Bank Acts of Canada impose stringent conditions as to capital, notes in circulation, limit of dividend, returns to the Domiuion Government, and other points in all chartered and incorporated banks. In making payments every bank is compelled if required to pay a certain proportion in Domiuion Government notes, and must hold not less than 40 per cent, of its cash reserve in Dominion Government notes. In 1897 there were 37 incorporated banks making returns to the Government, with 575 branches all over the Dominion. The following are some particulars of the banks : —
Year
ended
June 30
Cai)ital Paid up
Notes in Circulation
^°e%'5? t-™""-
1 Assets
Percentage of Liabili- ties to Assets.
1888 ' 1893 1894 1895 1896 1897
Dollars 60,168,010 61,954,314 62,063,371 61,800,700 62,043,175 62,027,703
Dollars 30,444,643 33,483,413 31,166,003 30,807,041 31,456,297 34,350,118
Dollars Dollars 128,725,529 166,344,852 174,320,991 219,666,666 181,743,890 1 221,066,724 190,916,939 ; 229,794,322 193,616,049 232,338,086 211,788,096 252,660,708
Dollars 244,975,223 304,363,580 307,520,020 316,536,527 320,937,643 341,163,505
67-90 72-17 71-87 72-50 72-39 74-06
