Throughout the whole of Canada, from Halifax to Victoria, from North Portal to The Pas, there are only eleven commercial banks. Canadian banking is branch banking in finest flower. But Canada is unique in that it has no central bank of issue, no Federal Reserve, no bankers' bank. Last week Premier Richard Bedford Bennett prepared to give the Dominion a quasi-public institution modeled after the venerable Bank of England.
The Bank of Canada is the legislative offspring of a Royal Commission's report on the Dominion's banking system. Last spring when Canada's Bank Act...
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