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al resources Dbflk pQV CAN PRI! "There sIrcesof ,ely without lrs. 1mark k. General at flot only' SRoyal Bank ing total of h-at deposits billion mark, Uts in Cana- y, While aur ngC the yeaz e," said Mr. e withz oui' Bank co- Ca- ancy o!of ui that we ac- leserving ch.- Icr.eased lines reason, the, the bank in- Pro- lve, in ms, and celery isp. Worse stili st oniont An- ri; mroreonionis to) chop and bout the thiings f lat )pen. iinner thie Chrýsias l no one enjoyed if n sev2ertnonths' old lRe sat on the floor e wr-appings and boxes, d chuckling to him- d. of course, wsthril- wiioIe econiomy." URISIS IN EDUCATION "The present economic P( tian of the teachin.g professioi .an anomaly. The ecoriomic p tion of al teachers has deter atedt relative to other professi o)f comïparLble training and sponsibility-, and relative to wý:orking,ý for-ce as a whole. TI the teacher today f-,,ins hirr in the samne occupationaI" men, t teachir and -un "lier, allocati ces WO sive 10 teprL onlTy pý butine UImIC Llil Juir icy are sufficiently different ta menit separate trea3tment. "It woul1d seem to be at least open to doubt whether th-e present facilities and tech- niques availlable to our mono- tary authoities are sufficient- ly wide in scope to dleal with present -day problems of ere-- dit control, The classical ,vea- pan - u-pwa.,rd movemyent of intere-St rates, largely through commiercîial hanks - may byý itseff prove an impotent pol-- icy.,t imay betaking too posi- tive a vie-w ô! 0a ,>tait sceýne, hut ït wouId at ]leaýst appear that, in order to be f air and Ù3 order to achieve the best re- suits, our monetary and' credit- control mray lhave to embrace a wý,ider area of our financial worl than it now dOes. A r.igorous mnonetary pal- icy has already enjoyed a large, mesure of success in the traditional area of bank credit. Its over-all SUCcess mnay depend ini large iesr on-- the efficacy of the volun- tary arrangements already reached in the non-bank area, or on the extension of credit coritrol by the central banik -or other orgahs of gover- ment to includie this increas- in-ly im portant source Of s hlave coer- ie broad fao ,ary polUcy to re- tneglgîble pro- +t el - a t to a issets o! ig 57.86 ýacto ion un aLzln M itage of the couintrYl'a who de-al wltih us.' r, the year wvere $l2,- er providing for de- and incarne tax. Thim pares wîth $10,858,480 7ous year. 'ewick discussed thE Lesive building andc programme, a n d that branches and ies'operating in Canla- ed 797, while thosef- ROYAL BANK ABROAD "International banking on e broad scale has been a special ch-aracteristic of the banli for a long periodl," said Mr. Sedfi! wvickz. "Itlhas long beeni our ptl- icy ta select business carefully and, as a result, the. asset posi- tion of aur Non-Domnestie brancýhes7 continues at a higbà standard. For over ter yearsl, a special section of the bank's Foreign Depa),rtment hias beeoa evted to the development of informnation )necessary f0 those engaged in trade, and the per- manient stafrf of this de-partmet is a-uginented by the flow o!' senior men befween overseas branche3 and Heaid Office-."~ This, Mr, Sedgewick mentioned, mnakeaý the bank vvelf equippedt to ren- der a specialized. and essentfial servie!ft clients antd othiers en- gaged in foreign operations. Ffe stressed that in an, organizatioli such as the Royal Banik,x fhert are always worthwhile oppor~- tunities for youngc Canadiane who have special aptitudes and are rnterested inu a bnking ea- alreac there swait .ten Ienu g h the girl j for' is true. that? Do long until ir fancy? ýbody shie d trust. 1 1amn juat or. shouici I wonderI The * *