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___ he RyalBank of Cna4a 1 dont Youx' wfe is one of rany mepaniy *women v5o have becmme cil- -Jm s M i an AEN WPSE efolow-J_ saisfied. She bas been honest TTLDPSI orne tirne * withlyu, th-ouý,gh o t h er paca of consumer buyingHAENW PS D for ielp. * worni rnight sulk and 1hug Ja d t 'tn s o!m k tsILiNMA ( ood mrar- *their-discontent tut h eir an. K. M. Sefdgewf $3BILeINeMaR but somre- *bosomn, but she Lias enough lIMmeltesad lao rManager,, nGeta fo niy, iied. For *courage to confuss how abse Managr,___________no ' has said * feels. She lbas suggested the had the assets of the~ Royal a s't knùw *on eed havh hpsCanada «rn iii cifford luxury of group or settioncul 1 reached tire împosing total of $3- nivoreer-liiedy s, c Ite hr0es ;d28,143,865, but that deposits had aor not, *will work, a shor0t absence parochialisrn. Dpaered the $3 billion markda st In ouri'e the At i give her the pers- econonmic int.rests present opportunites as YWell as new Hligh pohIt in Canadian lier pride. pective 'o evaluate how ilc banking history. "Ten yeam' t a eer * ie marigemenstale probIems in achievinq national unity. aoardpst ee$,8,5, cani't un- *in -n y Opinion, she sbould Some af the mare pressinlg 074, approxfluately 61% cf to- lovh- bve Na*pprui3;i o problemrs confrontig Canada i NEW "BUILT-IN STABUIZIER" day's figure, whereas then our 195er, haveevhat opportuy Jamesifeasicompard wth 2 ,55909a in an, *deny it she may accede wîth- 15we rvwdby amsFOR FUTURE BUDGETS mdeposton nmbred 55539ù9n iie. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ o I r1 u erah btsecno ur Roal ank Cannasda, "In al the excitemerit over the presenit tine." hebni' * elp 0feelenRoy4 Bane cf 1anada, tetswitech ta deficit financ- 1liquid position, lie noteci, cciitin- liewoud eelngcliatd. hpe hs anul adrss t he n- ing," said. IMr. Muir, "one cx- ued,, strong, total qiuiclk assets 0o' wvhiJele a *israin.N ite ûwna etn fSaeodr treinely important decision in $1,918,'749,579r ep r ese nti n g 15hE he. *the experience tuns oc, heaul-o Ja, 20a HaiOffce te realini of fiscal poiicy wenit 61._94% a f thre bank's liabjlities, cave nfie, * ill be grateful for your un-neo temoei-otatZ almost unnoticed by the gen- 1tautNe public. "Our RBst Ac-~ man couîâ dthsehe eitwa th ne eral public. This deuision is coti as been increased tM desadn.flaitkîary pressure Litiilt up dur- au tSe more important b e- $1MeN0,00 whicb wîS th ad-p dvsen, or *rBse on hundreds of sa lelng tht booWhiadhbnc hce- cause, uniless or until rever- capital of$430,0 and the lvie9 ries,1 elivetha alitieize 155.Whle diittngthee d, it wîll presumnably deter- undivided profits balance of E~AUUT" respite front her wifely re. a esiedfeec fcm mine the overail pattern f $918,000 odd means that. the boankl *sponrsibiliftes ilconvince ion on-the seriousness cf the fda ugtr o est o a s aia uisv tters nass * lier ~~~~~~ 's she -~~~~ threat posedLi-t y tire boom, -lie fdrlbdeigfryast o a tueCptlfns ýrespss ird t swith 1 ceive lee~"r efxt ome. close Vo $1,51,000,000, This isa . mnan 15 * longs; slie will probably re- eýM;elý,,,, danger signse not seainuc in A"n bis budget speech et Apiril, ver.y strong postien ind(eed."' ~ragean " Ul ,7Ahrsii eü,heî40 prices as in tbe frantiç pace cf 5, IMede5 tt inister et Fl- Mr. Sedgewick noted t h a dt ha is *acia aprcaie failu cnue uynbsns - ance said: NHA Mrtae o ns, -ey ~~edD in and * tamînglierspirs refreliede4-,,-Ipropose to recomm-relnd ta the Royal Bank, rnow total $0, Ntyeùr love and comi-paion anW,-n20e nea tgt the boutse a tax,- policy anici 865 965 as compared with 22, hh dris *tttic-2' s ofdmlabouri bthcnîod-a tax structure fthat wud 672,390 fthe year before "te admts *chanice. Have fiaith n 'ier a.nd e ac produe a balanceci budget cuen asislavshw hapopyli nyorseIotebauid afuture N oe akrwl eyunder conditions which rep- expansion bin ue with the h194K frigbtenred. f e epcttosfi, . > te eficacy cf wise central bank rsrtalg ee fO nids be? *of res athi exarhslacil poicy in cumbing inflatipni," tic reset ad igh levl feu- genera bmusiesactivity and Oùi coýù1 frs at i ,ire! n n OýE PATTERN PART Wr saîc. "mdccc, experienice shows pu niepomn. otal t$11 M5,5 shows an otcd *each other, thtrrroraypkyi ar 4NOW a [,igh leae! of output inc rease of moritSan $3,iO years oc f iyouni airin.ge bas reacned eaditm. Dress, capeliat, tatmveaeuelc, smoe and emplyment is refflected 00inthtbe v-înhperioci ve- effctive arigainist inflation thon nitefgrAM wm s est tr.Ving; ýt vr5is, fae h ba«Y an eu- alin tlusefigures gthat emeasaix ButNondere review.viw We V rereowvlu ,st ~ ~ ~ ~ ~ ~ ~ ~ n trog rssfc tbaey n o isbleettet, paties glntdefuinrBtthr ae the grocssvalue of oR na. commun with thec ethel rkS 1cmsats- pera-te gerieronis1y, Anne Hirst's adrb r ees OSwfr dangers. As I have aiready tional production over tNe Co-operatipg wiStheflc overn-- re 05 praco long eUperAence 1, at y», yourdagtrs ely Moflier, pointed eout, theo policy mnay ,lo year. The new tax policy ai nn aniteBn fCnd n'ule do vie, and a leter tg Iwbe pa Mtis is tie best idea - lkt your te frI iayasebeuisle- tax srutrefrcmrcd te by in carrnin.g out a pAofempirdt m ia rr iagce. ing ,the stuti na guide yOU lilttie girl spend hiappy heours tive, curbing hecalthy as wefl es the Minister 0f Finance is restrict ion. designed fo pre'-,,înt ci or Wife te happieýss oehr Wie helping you te malte these unhrelfhy or excesiosive bn rdc nsc a hti otn ha lctnigc n is bîng i ber atBox1,123 Egtenhs, ciothes!Use scraps and rem- tcredit.f1n diion t ertly an garecteIn th gross national inflateay the lirs.it 15,of it- relell(in NwTotolito, OGnt. nants -- thrifty! attern 46300 tyesefreac the se OInarle in any year Icle product falis variation in such a pclicy shefd and ail the ___for dolis 1,1,1,20 inches mastela4ifninr.le hlwa certain ideai level, coincide iacuirately witbheihan- 14,t le16,1 al Scpae 8 fl almgs. Post entireiy oeut sida fliechcaTm theewiii be an autoniÎi ing eondipions 9Wi thin Seheacon- kep al.Se ptern oryrdge, teraci bnkîng system. 1 siouki budget odefct. If flicnational eminy emn fruit- m0Bos This phcneasy ta use, suri- Mlike teonominafe fwe candidateýs it the se- pic ta sewv, is tcsfted for fit. a andi possi iîre for fLAic.a- rodutct ises above- this levai Mir. Sedgemieh aisoesc"e VPd they He lad been lilied as a cornie- compi-eta iciuscatmp nstructionýs. ltenfion of thosa cliamged ifh there wil l bean autoac the bankls extensive building alttention, d an at t c alaateur van- Senci TITY= -FVE CE TS ce v i s i ng ni 'd t aitri gsups . Andt h le idel lev! andi ranovatlion pre ram me cfy Iappa antlrvr cei onrtonaset e o rossnl del preduca s the pomwnt t îdtng pranse0 apy mor concert, but lis turn wasn't 1(35eý) ilucoins stamups cno i ais osmrcedf n eel flat wuid a otin- 39 ene ntstoexistwcre ornctl can c- at aIl funny. if was se lbad tat acpc)for tmis pattemu. PrIns asb aniac wth lcdlita empoymenthavte in Cnwanhes19s ard 23ne-w ingad lc uiec;bgn e1j lm any STIENME, DR9 in mrg cei.rate etfgrWt cof t-e e-onomn 1 buildings for cening thévaar eacli ofber, Undraunfec he- was about ta Senti yeur erder te Boxs1, PROBLFMS 0F cumuIT leen "normal" every year or l3ter, arc updev oarUtol 'Consumer credif, or 'buying pInce the base yeair 1953. if rnhsnw oa 5, inua i- retm A ake a bo ', wben flC 12USBigeenfli Sf, INew T on o, non tle& is an essential part cf 1may be open te question 74 arc abreadt. minou de- sýtagemanager stopped i hlm --ont. - -our imue ena eononmy. But-, like wlither ibis kinci cf lumRluOYAL BAK ABROAD -i-)d--- e- "L -o fne e ~-I- al good ingi f con bc carricci stblar wlllprove if- *really las saici, ta f6excreines For t&a ii iduail Senf1y strofig ta Prodire the The li! ilf -4ilso ticu,îy -l part, aLIl BtiWa eaIde lp. e in iconsfant hay-ddbt -d-esl.ed effect. If.may prove -1flew aii-trir ce- noa&Ous ar ese- in ao~ htîoi.g'saci~ slie strol d àong the bueauh 1 ebeu adg; n h 0 a~v f etfi rss pren-1fses inio e 4a Ian rp sor nrc ~ essoii,- "irIg mngtetooedîc -at Deapic ..1e Gociba -nspot- 1- l-en etdelitis iisuifly thc fthaf li-e aad W Itrmay wcil 1yand cncflraion X big m, far td anod1-lo. iin- objef, -which-gicýatfr ieewh ab lor ethatth-flicutmatitipic-cid t ft-eef c - saytig atd "butf h~ ' for betheilgi wa amhmre ; iiif easf: vi., hese wh& neeti or pic waas adoptec as a device Crila.ae Sn ns Admanager, "u hi o nibýr ahAare atUtrctcd -ly 'ne ow pay- te ensure that fiscal pc'liy 1began operation- - a lyarjý 'e lingti liîoin." - hale-n ascdup ly the ýsea. mnt fr. Prfi eooy woild atieat 'nt, a e 60 ycars ago, -~ ' s2 noh -of- ______Hac if -Opan, f ountiif a îl 'a bl-,cosme rei mthings worse: that if would at cik tek~-a aire -» en -scekui~w- of t y secs afici, ba g a ean -suifsin flic production anci saie 1 leasf lie a neutral îfactor i ecaaêdr-dap e oin ital- i-/n Ecoumiy is gour! wiflout gardener,- p an id.cd s ol f et durable goe s (a form Of tSe short l'un, Mleanwhic, piCtUtons and his, he te t, had arme- ami- soemtlungyeu do 'ant i cgs"e fhem in bsha ýmîÎll lakgA rdn. leigfcm -inesmet y tflic oncfary pQiicy wtb ils been a a njor fhar n tfIe sucý- af -- fair you heult iea dày wntsemc-- T-Ihot ras sin nientlis ago.-No-w - cn vr litut at th( amgreafly - uperior flexibilify euss of fNc ank's focign ioper- lot lfin c fluae hicl you prolily.wn't W- Sess have groin iboa, lune ;a Cyorespodinjg acfcf ýsa- - ouici h reiicd aonta tRe ftions. There w-as,lc ada t aans ct.anta pl-ut - in, .Thora nced le neo amlu -n -canéetfshort smings ibus-1- neeti for Canadians ithe banlk s - urf. -thisprovcicc thaconsmer an nss ativiY aniepbymnent, fereign service andi as a conse.- ________________________________ moe han-l ac lcg. - is ifself 1fiancecI out cf saving îaaviing longer run prllms qence splendid Oppontunities - -' - --- - - Ex ars -~say -dtît 4lic plant --e c!sum r e beooinl1 of acononie dcvbeopmrent and e-- xistcd in the Royal B3ank'.,, - i - - ni ittrý21 eil -drcef)te pread his aira savîing lgOah the lic ecessarilv foreign branches for any Caný- - --- R - ~ r.- t i -n'over fin-e. ýBut if a greaf réiîn sbowcr ad _astmns fhrougir adian ïyoung mnan intacs,_ted ini -~ r ,t - gcûarea7 o o ge rd,-which coiumn oanrs is fnncd annual ravisions fof tie - a- aspflg anti s cessfulcareer 11 saan rui xasin b l Lin interniational akng Y ~rf lu ew Atv eqst g ii- u-topcl--sq a wiflnugî. lank edif expaonionudet"oi - - Sed,ýevick pai4 a bigla nibu14ý thînlisTIc rdif - rm, -self bcûiainI - ctheve-x flcbankrs staff, which ov A fffuisthe,,bu,, Iong-trm î Thpaec M-u,1V'IVIir noted lit he tc te i êswell over 14,50f), "Ve là-e 1a- -aleh vanifities o et are-e v,ýua- ýery pleasec.inhdùedti f6sec e CI - l ayr0anndpefi futs~o ik ac ayonsem a lpag ptînoodl sien n-ight soon becomre Ics rowing namber of ycung -lneu c. anti a coiscq -nai expansioe- the-f seniauspduecfanafaral cauises join Our staff and tee-Ifatte Mesue uit9lane -h=mi C s GntA gourd cn inareaht-tIc m onsuY p ly stuco. anti to th-e eftecf<of policier neI(w have attractive--o partuniities latd ugr; str sca Bifi-, aflauli1 99,una:ras - nka -Hme -building and -ahcad,» raid Mmr. -scdgeik. - unil iîcl ivegliei0e corporata sernlbn construction in ganceral wo-uld j, dss î .Spun77ait, n- - rpnf-om cti - s sar smbarndafec, lefect d y seasenal factors, vabpcs Flcschanu'~ ctie 3 z- t. ______ xpasincf lankRuanccd cun ltenm lonns y bauiks and-.flic natioral cunity andi ueIlbl cng, - =1 =11'as .La-tnd.10 min=71,, uc eiat a eMore purcliase of coi-parafe securtes slç1Mn Mutr fie dcyvelopmentý, THEN-- ti wcl. $cld i - - Jii~QJ1 IflU~ t ai-lua l flif fI rapamart iren no ongerpranocabonunecr hroa natonaloutbokn- - - 17 u upeand m uay bu longer. cir prescrit me1etary palicy; the avoidance et ragiou1al anek rniik andsur i ½- . graisulcd - TQ~ îna I y 'orf~agé ans b y boulesare anti.-"conitrai citconsumer creclif utrlprciaiu eca - su _1,Vstzps. -sat, 1,bsD. sreng a dcpàfrle hfinm traditlQnal doas nef le priinarily in the field of panaunotunt imcportance. "h M0 oo! ,taoanis. Add to yea t i- - Ti oln Ia oc ic hr-tarin b ani fnaci ric ln nh anad t-wa vr d-rstye rgonacl cmnturean srln.2 weieauTi colrlb go ue, shs~- orgtanm bvasfm n , ii , exprlence have sioxvn that tuýbs tara triat ofpafialuteet Sutr ilis3 C. oct-sifted b ed iur; -- World 1,- -for mucI "a-ctfy - a rnuI,,ýmt hsýýiI uaat-docptoa beatsisil usotti Wok li e luoe aongtic rivr bnk a-,home, is financeti ulfîcut a cnlmsfeffectively hmcle in Canada that creafas antiag- &ceci&r&Md cunmApouding act et saving. As a Ivrglto ffi eallvi gravates ur probliun-maRes, oicesite bea au. 1nadunl - Mole andi WsernRat nven-. cievica fanrc-tpandbag hlime owu- c l ihgoot i mu anico-opaaoeu unity an c-van-riche-n prize tAw ameh îdlastic; piace-in greased - Wbowlbrsop wu th me Nomdubrtrctiedsoea bvebyyaams - usgo? - igtuigapnit frltv- betîven those irbo extanti flic woald. otie-rvîse- le-the cs, a o ortenu C ald Set in - These arectinys for firesides ra- slack fmade, flia NHA uregramm credit anti the contrai autioîi l concludeti. "Ours wiii le a unity war pace ftefroa raghtLe - tie fan "esigaboufla hati many virfiies. But uitii a tics Tîcee sic-id ble notling, in divcrsity,xwith the attendant4 risc unts, Andu3ied udL)buiWhîie j5 Pefute-19norrm-al conditions, uid tcaoe nteetrevreis opponi-iýltyutetaRa ullesf a- do10,aru gaen reii . reiibas. At Mledoltar e cedfc-erexenio iafa vautage cet-hemiienflaor susa 1(ightty ,preýs cd dowu) i ts deapin lis underground lhonte, - btnîtianapennee n îf eledicomn ese, es th-ain, ife aprdiv o isieosity ii - - - ~~flbfoxunany pesr, ofnc idanticoparafon cnnort qaikly culurelufndiidu aesdnt lradsîn îaOs, i . % wssedau -sIau bis breati anti cheese mon gage lcnding by boules, ta- odýOomî1 aiotqiýk- utriiidvdi aetý.i dve sel srita uchd ~ rinspnolutcu's ata if iAvee Ifa in u.skili, in groap untcrest andi ae- tut s. ou'lu_-tohat balla RoC'11 afraid of their op)inionis olthfe amy forcas, andoulfadïr ma ~aCANADIAN IUNITY tvty 1 rmly believe fliat titi e ch pwec no nians e ' hi - chrome tlaf-ans ulihl iving1 cont ihutOn tainstablilîyl ianWiheond conmii ebey dificuittask can be accom- j adil- lolosen daugb Br ,11sh ile room mils-.e .. - mutiueledbttr r againPerhaps Wntar Rat eenmV.I wÎ a- afactor in acieving pise." Sprniie st rssu mxtnc egsî. - -is het ac f0for a îuntar -wcek-