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Imperial Valley Press
El Centro, Imperial County, California
What is this article about?
Canadians invested $2B in government bonds over 12 years post-WWI, holding 50% of $2B national debt, up from $330M mostly foreign-held pre-war, per Bank of Montreal president Sir Vincent Meredith.
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BUY GOVERNMENT BONDS
MONTREAL, P. Q., Feb. 25.
People in Canada have invested $2,000,000,000 in Dominion government bonds in the last 12 years, Sir Vincent Meredith, president of the Bank of Montreal, declared in an address before the institution's annual meeting.
"Of the Dominion's normal debt of $2,000,000,000," said Sir Vincent, "50 per cent or $1,964,000,000 is held by Canadians themselves. Twelve years ago when the World War broke out, the federal debt was $330,000,000 practically all of which was held by investors in Europe and the United States."
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Foreign News Details
Primary Location
Canada
Event Date
Last 12 Years
Key Persons
Outcome
$2,000,000,000 invested by canadians; 50% of $2,000,000,000 dominion debt held domestically; pre-wwi debt $330,000,000 mostly held abroad
Event Details
People in Canada invested $2,000,000,000 in Dominion government bonds over the last 12 years, as declared by Sir Vincent Meredith at the Bank of Montreal's annual meeting. Of the current $2,000,000,000 debt, $1,964,000,000 is held by Canadians. At the outbreak of the World War 12 years ago, the federal debt was $330,000,000, nearly all held by European and US investors.