It was like taking command of a ship in the midst of a storm,
but he felt it his duty to undertake the task, but did so with
a full understanding that he should be at liberty to devote a
reasonable amount of time to religious and philanthropic work. It
was several years before the financial cloud passed by, and of
the strenuous labors of bankers at that time it is needless to
speak. Suffice to say that Mr. Hague held on to his post with
careful attention to the matters he had stipulated for, and only
retired after twenty-five years more of service, at a ripe old
age, and having in the meantime assisted in the decennial reviews
of the banking act that transpired from time to time according to
its provisions. At the time of his resignation as general manager
in 1902, the directors of the Merchants Bank presented Mr. Hague
with a valuable piece of solid silver, gold plated, and made a
handsome provision for the remainder of his life.
Whilst general manager of this bank, Mr. Hague was several
times requested by the American Bankers’ Association to address
its annual meeting, and took an active part in preventing the
adoption of silver as the basis of the finances of the United
States. He also drew up a paper in which a strenuous protest was
made against the adoption of silver as part of the basis of the
currency of the Bank of England. This had been urged by a school
of financiers known as bi-metallists, but Canada has always stood
solidly on a gold basis, and so has England remained.
When the Bankers’ Association of Canada was founded, Mr. Hague
took an active part in company with Mr. Wolferstan Thomas, Mr.
Duncan Coulson, and other bankers in drawing up its constitution,
and was chosen its first president. Since his retirement from
banking circles he has been honorary president, an office to
which he was reelected at the last annual meeting of that
association.
In the intervening years, since his retirement to the present
time, Mr. Hague has given his attention to literary and
philanthropic work and has become widely known by reason of his
contributions to the press and his cooperation in many organized
charitable and benevolent projects, especially the Young Men’s
Christian Association.
He has written many articles which have appeared in the financial
papers and also reviews on banking and philanthropic subjects.
He also published a valuable treatise, entitled Banking and
Commerce. His published works include, Some Practical Studies in
the History and Biography of the Old Testament.
Public-domain text, read in full here on John Shaqi.
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