On the evening of 4 August, a cabinet meeting was held in Ottawa, to address the financial crisis that was taking place as a result of the war in Europe. Canada’s Minister of Finance, Hon. W.T. White, took measures to ensure that Canada’s finances remained stable during the war. It was the Canadian government’s goal to ensure that business was able to proceed without interruption.
In addition to the steps taken to protect the financial system of the country, the Canadian government also established a system of censorship. A call was made for naval recruits to serve in Halifax for the defence of Canada’s coastline. Although Britain had not yet accepted Canada’s offer for an overseas contingent, Canada took the steps to ensure her own defence.
(“Cabinet to Assist Banks,” Berlin Daily Telegraph, 4 August 1914.)