A BANKING Loss.
The deeply regretted death of Sir D. Drummond Fraser removes a personality who will always be held in grateful remembrance in banking and economic circles, and, indeed, by the country generally, for Sir Drummond Fraser's War services were of no mean order. Quite apart from the fact that he suffered the loss of his two only sons, who were killed on active service, Sir Drummond, together with his gifted wife, retired from active banking before the prescribed age for retirement in order that he might give himself entirely to national services. He took a prominent part in propa- ganda work connected with the pioneer work of financing the trade of the devastated and impecunious countries of Europe after the War. In that connexion he visited the United States, and was largely instrumental in stimulating international interest in the financial operations which were necessary to set the wheels of international credits in movement during the years immediately following the War. Moreover, during the conflict itself, Sir Drummond Fraser was a pioneer advocate of a system of raising small sums from the masses of the people to swell the general war funds. Not only were the country's finances helped by this policy, but a thrift move- ment was encouraged, and a wholly good effect was produced by bringing in such great numbers of small people into the Wass of holders of Government securities. An exceedingly modest man and an indefatigable worker, Sir Drummond Fraser was esteemed by an unusually wide circle of business and private friends.
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