private bank at Fort Macleod. Its history provides a prototype to show how a small-scale private banking house became an important force in early southwestern Alberta finance. Both brothers were astute businessmen, community leaders, and had absolute confidence in each other - so much so that in 1888 Nathaniel returned to Lindsay (later Simcoe) and became a grain merchant. The banking business expanded, with branches being opened and advertising and the lending of money becoming widespread. In March 1905, the Cowdrys sold their banking concerns at Fort Macleod to the Canadian Imperial Bank of Commerce. The role of family enterprise in private banking during the late 19th and early 20th centuries was pivotal in providing an important channel for the flow of credit into southwestern Alberta and facilitated the emergence of the modern economy. After a dramatic economic boom during the First World War, a sharp, short depression hit Alberta in 1920–22. Conditions were typical in the town of Red Deer, a railroad and trading centre midway between Calgary and Edmonton that depended on farmers. Hardship during the early 1920s was as severe, or even somewhat worse, than those experienced during the much longer Great Depression of the 1930s. The groundwork for the economic collapse had been laid as early as 1913, when the speculative boom that had fuelled Alberta's prosperity had collapsed. But the outbreak of the First World War in 1914 initiated an enormous demand for agricultural products and helped to mask the serious weaknesses of the provincial economy. With the conclusion of the war, however, unemployment skyrocketed as veterans returned and inflation increased. Grain prices began to fall in 1920, causing further hardships. By the spring of 1921, many Red Deer businesses had gone bankrupt, and the city's unemployment rate was estimated at 20%. The city's economic situation began to improve in 1923, and Red Deer city officials were finally able to collect enough tax revenues to avoid the need for short-term bank loans. Women Up to the 1880s prostitution in Alberta was tolerated and not considered serious. As the itinerant population became more settled, however, this attitude gradually changed. The years 1880-1909 witnessed few arrests and even fewer fines for prostitution, in part because those caught were encouraged to leave town rather than be jailed. Later, 1909–14, a smallpox epidemic in the red-light district started a crackdown against prostitution, which by then was regarded as a