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TEE OANAD!MI STATESMM!. EOWMAKV!LIZ~, ONTAMO PAGE TflItU r'HURSDAY,.:AUGUST 2lst. 1947_ Kenneth R Wilson, Ottawa cd- Iter ! th F~icial Post, bas lat- ely returnedtfom Geneva whcre wonljl trade discussions have been ir. progreas for some time. Spcak- ing at the Ottawa Canadian Club recentiy he recounted some o! his impressions gathered at this meet- ing. As a matter of public informa- tion we publlsh some of the facta he set forth and oniy regret that space Mes ' nat permit printing the entire text. In a later issue we hope te publlsh his summary of the Dollar Crisis. Dealing with the trade discussions, he said: "What is the Geneva meeting *Il about?" Officially it is called "Second KEEP YOUR SUM MER CLOTHES Session o! the Preparatory Com- mittce o! the United Nations Con- ference an Trade and Empioy- ment." The !irst session was heid in London iast November. Nine- teen nations were invited ta at- tend. Ail but Russia turned up. Russia sccms ta think this pro- posed trade agrecmeXit is a sort o! capitaiist plot ta, return worid trade ta thc archaic ruies and reg- ulations o! the nineteenth cent- ury. Wonld Trade Charter The aim at Geneva is'ta prepare the way for a Worid Trade Con- ference ta be heid later this year. At bath London and Geneva the agenda for such a conference has \\~ ~r~2 E' ,e Âdvantage of Our Efficient eaning and Laundry Methodu day!1 bhawa Laundry & Dry':Ciet COMPANY LIMITED one Zenith 13000 in the'fr inôt6 The famed Trent Waterway is a natural for a boat or canoe trip.And for a stay-put holiday there's a wide choice of accommodation; peterborough, the gateway to this lovely lake country, is on both railways;;; only a few hours by road or rail from Toronto,-Ottawa or Kingston; For fuiler details on routes and accommodation, write ta Ontario Holiday, Room 1004, Victory Building, Toronto. Ont of a strles of adverflsmemnts about Ontario Holidoa publlshed la the public lntnsst by John Labatt Llmi.d Theflague-ofOutdoj en 1 ' Tme outooem --, wfethaerho be IThetreatent suggested la DÏ. farine, truck driver, or railway Chams' Kidney LerPlla. By operator, iu often ubjet te bachc. reum of !their stiinulagaton Th ay be the reult of xposure both the liver andkidneys, you have i o d d dapasuor ti twttwe chances to one of gettimg relief of , froin your backache by using Dr. <0< t <g and Chassa PiU lla . ' trd liveris buing0 he'rboleh.rides. aouaed toaction, th e yi<j are ~- To lýmy wm a we mtimulated and consequently the monit of 6great to, b.fee m 01o f CRPM hclP UIm.*the blood of the b.cacl.oa 0<the B2Mas --mmlon OUOlU m purities wich bring and annoylng of alimeta. Adhr pains and aches and tired feelings. in how you mybe relieved of bsck- Reo eua n epwâb aché and otber qutm 0etpao.msLd=LeQW inlv Pil in thse blood. t.a box. Dr ChM4 e' "'"" ils WorMd Trade Discussions Ad the Dollar Crisis mere binding of the present U.S. tariff. For there seems ltttle or no prospect of the Americans Flow reducing this tariff. Inconsistent Attitude I mention wool at'Borne length for obviaus reasons. First because it has become a matter o! prime import4nce. ta Geneva itsel!. Next, because it seems ta the rcst o! the worid typ- ical of the sort of cconomic 150- lationism which has piagued Amn- enican politics now for most years STOP tlm BTcE - Hoat Raah Quick! Stop Itching of Insect bites, heat rash, eczema, hive., pimplea, acales. scabies. athlete's foot and other externally caused uiin troubles.'Urne quîck - acting. soothlng, antiseptie D.D.D. PRESCRI PTION. Greasele8s, stainleas. Itch stops or your nioney back. Your druggiat stocksa D.D.D. Dmr aeBCalTIA Tai Oli To.c Ost Phon been under review. As well, the eighteen member nations *of the coinmittee are preparing a world trade charter for subinission to such a conference. This trade charter is to be a.sflrt of econ- omic I'Ten Commandments" - a series of "Thou Shalt No;ts" gov- erning the conduct o! nations in international trade. 'In itself it is quite unprecedented in world history and cavera such objects as cartels,/ commodity agreements, customs administration and valua- tions, quotas, state trading, quan- titative restrictions, etc. The initial proposaîs for such a charter were first made public in Washington in November, 1945, at the time the U.K. - U.S. boan agreement was conciuded. Both governments initiailed these pro- posaIs and endorsed the idea of a world trade conference and chart-, er aimed te lower tarif! walls and clear away other barriers to freer tradé,. A New D)eparture 'The first important item o! bus- iness at Geneva is something else unprecedented in worid ecanam- ic history. It is an atternpt by these eighteen nations to work out, one with'another, a series of individual trade pacts all of which are to be brought together in one single "master" agreement. If successful, it means that Canada, in addition to signing the overal pact, will emerge with perhaps a dozen or fifteen separate trade "deals." So wiil every other na- tion. (A truly monumental task when you remember that in 192M, the last previaus attempt at muitilat- eral trade negotiation, Canada, Britain and United States took no less than nine months ta hammer out even a three-way agreement.) The conference got down to business on these tariff negotia- tions the last week in April. It hopes to conclude by August 15. As most of you know, it hit an eariy snag in the controversiai and explosive question of the U. S. wool tarif!. I shail take a min- ute to explain this because At has become a central and dominating feature of the deliberations. WooI Question Wool represents about 90 per- ,cent of Austraiia's export ta Un- ited States. Since the present U. S. wool tarif! is 34 cents a pound, the chief hope of Australia, at Geneva, was ta get the tarif! low- ered. In return, Australia was ready ta make concessions on Em- pire preferential rates and mar- gins-concessions which would be of importance ta Canada and oth- er Commonwealth nations, and would pave the way for ail-round tarif! cuts. New Zealand and South Africa are aiso interested in the U.S. wool market and stood behind Australia in its demand. When tarif! negotiations open- cd, it appeared that the best that couid be expected from United States was no reduction, but merely a binding o! the present high rate on wool. This was a considerable disappointmient ta interested Empire countries. But that disappointment was dwarfed when Geneva lcarned, early in May, that aCongression- ai cammittee at Washington had approved a law adding a further 50 percent ad valorem on wol- a duty which would almost doub- le the present 34-cent rate. This information did thre things: It stapped ail possibiiity of further U.S.-Australian negat- iatians; it cast a direct shadow ov- er Empire preferentiai discus- sions; it cast doubt an the bona fides o! the entire American lead- ership at Geneva. For remember, that the Geneva meeting and its proposais were iargely if nat entirely at the in- stigation o! United States. U.S. administration afficials had work- ed for over twa years on this pro- gram; had însisted that ail coun- tries came ta Geneva prepa'red ta negotiate an the basis o! prewar or equivaient tarif! rates. Now, at anc stroke, was a U.S. proposal ta siap on a 50 Percent increase in tarif! right at the start o! the Gen- SrnalI Concession Last weck the Senate and the House o! Representatives passed the contraversial waai bill. It cantal ns some measure of compro- mise in that the 50 per cent addi,. tianal "import fee"l is to be im- Life insurance owned by Cana- dian familiet reached a record o! an estimated Il and a quarter bil- lions o! dollars, this sum repre- scnting protection on the lîves o! some 4,500,000 people, the Cana- adian Life Insurance Officers As- sociation reporta. This in an increase o! ncariy ha]! a billion dollars in the first haif o! the ycar and is nearly' five billion dollars greater than the total o! life insurance owned in Canada at the end o! the !irst war year o! 1939. "These 1947 gains are a rcmark- able demonstration o! the effec- tive thri!t o! the Canadian people in the face o! ising living costs o! this century, and which stili threatcns postwar recovery. Here is a country whosc trade history, apant.from the attempted emancipation o! the Hull Recipra- cal Trade pragram, has been des- cribcd as a "continuous series o! last minute expedients ta avoid the importation o! goads." Truc the United States does import vast quantities ot newspnint and other raw materials which it ne,'eds. Truc alsa, the United States would probably import mare goods right now If it could obtain them. But cqually . truc that in the quarter century pre ccding the recent great war United States exported $10 worth a! goods for every $7 which she imported. In the same period thç recor4do! theether. great.worbd trader .>ý-.Great-" Britai n - w as ai-. Most exactly. the opposite, T1his contrast is.a yery impar-, tant.onc. Concern hICanada Thus for long years, Britain bas cxcrcised trade leadership under a regime o! low tariffs, heavy im- porta and a consistent poiicy o! averseas boans and investmcnt. Today, United Stàtes bas assumed trade leadership in the world. But United States is a country o! high tariffs, an unfavorable impont- export balance and a stiui uncèr- tain policy o!fareign iending. We in Canada feel this situation more kccnly than perhaps any other country. We feel it in high American tar- iffs. For example: Before the war the average U.S. duty an imports against which there was a tariff, was 45 per cent. The correspond- ing figure for Canada was 25 per cent. We feel it even as greatly in the attitude o! the United States cus- toms authonities in administering their tariff. This is anc o! the main points which Canada hopes ta get corrected in the ncw Geneva char- ter. Empire Preference The question o! Empire prefer- ence was a! course very active in Geneva. Will Ciayton, leader o! the U.S. delegation, made it dlean that United States thought aur preference discriminatory and would like ta sec them eliminat- cd. He cmphasized though, that they werc not secking compiete climination; that they wanted es- peciaiiy ta sec them removed on and the rcturn ta retailers' shel- ves o! consumer goods which have been out o! production since pre- war days," saîd W. M. Anderson, association president, in comment- ing on the mid-year repart. "Not only have Canadian families main- taincd an unusualiy high percent- age o! their previausly acquired security and protectioiý but they have added ta it at a rate well above that, o! pre-war days." Purchases o! new life insurance protection, the Association re- ports, are continuing at a siight- iy higher level than 1946, with new purchases in the first six months a! 1947 approximatiiig about $100,000,000 monthiy. items in which thcy were special- ly interested. He mentioned no speciflc items but I thînk it is wcl known that they want the 50 cent duty on anthracite coal inta Can- ada removed and the Empire pre- fenence on cotton textiles fnom Britain narrawed or ciiminated. They argue that United States bas naw become the chie!fareign sup- plier o! Canada and that there is no langer any reason for discrim- ination. On aur part, we are insistent that this proven trade arrange- ment be not given up without same substantial and lasting ben- efits in the American market. Wc objected very vigorousiy ta a sug- gestion that the British might have ta raise-Empire preferential rates in order ta meet American demands for eimination' o! the margin which ComrmonwealIth .na- tiaois now enjoyý The Road Ahead If Geneva succeeds, It won't, overnight, right ail these wrangs. At best it hopes ta make a begin- ning; hopes ta set aur faces in the right direction; hopes ta avent a return ta the narraw, restrictive palicies o! hanter and cxchange which Germany's Doctor Schacht had introduced into the wonid in the thirties and whîch could prove disastraus ta Canada's pastwan trade prospecta. It hapes, too, if the waol difficulty can be iraned out; ta reduce the general bevel o! tariffs by probabiy 20 per cent. Mn. Wilson spoke on the dol- lar cnisis as foiiows: "What is the 'dollar cnisis'? What does it mean ta Canada?" Let's put it this way. It cast the United States close ta $300 billions ta flght the last Great War. O! this sum a large proportion was used ta destroy Europe-its raiiways, its factonies, its public utilities, its homes. To help recanstruct this workshap and living-place a! 400 million people, the United States bas al- ready ýcontnibuted pastwar aid vaiued at $11 billions. This is partly boans, partly gi!ts, partiy contributions like UNRRA. (Com- parable Canadian nid, by the way, is vaiued at close ta $2 Y2 billions). But it now appears that this sort o! assistance is tatabiy Inade- quate ta meet the nced. just this week, an authoritative British hewspapen, the Observer, estimated that a period a! seven ta 1920+~ 192"f à 1 1930 193,5 1940 19456 OFIRST 6 MONTIIS1 EACH SYMBOL REPRISENTS Si ONE BILLION DOLLARS mi RiST 19 ten years and a minimum o! $25 billions would be needed ta reha- bilitate Europe along ines now being discussed at Paris. Compared te the cost of fighting the war this sum is trilling. But compared with peacetime stand- ards and wlth the present volume of world trade and dollar ex- change, it is a gigantic sum. Up to America Tt is Sa gigantic, in fact, that ta- day the trading nations of the world are literally going broke trying ta find enough American dollars ta pay for the goods nced- cd ta keep Europe alive and carry on the work a! reconstruction. For, quite obviously, until Europe (and Bitain) get back on their feet again, the major sources o! aid must rest in this continent. This was the situation which had begun ta reach crisis propor- tions early this year. It has a background in political insecurity, In the disagreement aver Germ- any and Austria, in crop failures, in the coal crisis, and in the gen- eral failure of Europe to recover as quickiy as had been anticipat- ed. The British refiection o! this crisis is found in the rapid disap- pearance o! their Amenican dollar boan. But British officiais cm- phasized quite propeniy that It was not essentiaiiy a British cnisis so much as an American cisis-a crisis caused by the unbaiance be- tween demand for Amenican goods and available dollars with which ta buy these goods. Canada Golng Broke And when these officiais came ta Canada early iast manth, they found that we, an aur part, were facing a somewhat similar'prob- lem. They !ound that we in Can- ada wcre gaing brýoke buying Am- enican goods-nat because we had been despoiIed by war, but be- cause: 1. We wcre buying goods for cash from United States and sell- ing them on credit ta Europe. 2. Wc were ourseives so super- flciaiiy "prosperous" that aur ap- petite for American goads had broken ail bounds o! history or precedent. What we are flnding is that wlth a national income in Canada o! $11 or $12 billions annuaily, aur purchases o! U.S. goods riscs in geometric progression. No one, as yet, has any idea just where this is going ta stop. (One cx- ample: In 1938 we bought $167,- 000 o! pocket knives !rom variaus countries. From the United States, aur 1938 purchases were $14,000. But this ycar in three months (January, February and March) we bought $233,000 af pen-knives from United States alone. How do we get aurselves out o! this "dallar crisis?" Lend-Lease Again The first officiai indication o! a solution came some weeks ago when Canadian-born Dean Ache- son, retiring Under-secretary o! State at Washington, toid Amer- icans bluntiy that there was no solution short of a vast U.S. peace-. At Household Finance Cor- poration, you may bôrrow from $20 ta $1000 without endorsers or bankable' security. And, you may take 12 or 15 months ta repay. Or, even 20 or 24 months on loans of- larger amounts. JUSI 3 SIMPLE STEPSI ta get the money you need, First: phone, visit or write the Household Finance office nearest your home. Second: decide how much money you need and how you want ta repay it. Third: as soon as your application is approved, the nioney is" yours, usually the saine day' you apply. You may borrow at/ Household for almost anyý worthwhile purpose- To pay overdue bills Repair your praperty Educational expenses Purchase new equipment, Dactor, dentist fees Business opportunities So, next time you need extra money, use Household's ,, prompt, friendly money ser- vice. Phone, write or visit the Household Finance Corporation office near yu. home today. 15 Slmcoe Street South (over Kresge's) Phone Oshawa 3601 OSHAWA, ONT. Nous 9Io orby ppoilomn-Loant mode Io formers and ruidwUa of »w4 boum Uo E D o uorE sRM HOUSEHLD . INANC SLEEPTIGHT with SEALTITE 18 your bedroomn too hot for comfortable sleeping ? If so, why flot have your house insulat-O ed azainst the xid-day suinmer heat. Insulation keeps your home cool and comfortable during the hottest sum- mer days. SEALTITE UNSULATION WITH ROCKWOOL F. L BRUCE 47 Queen St. Bowmanville Phone 494 I ~A**~ MOUIDERS 0F b?'ANDA (£WUMITED" Symboi of proares the CANADIAN -0 NATIONAL EXHIBITION is a showg. window of Canadian. enterprise in "'w 111 [~ 4' every fleld of endeavour-a worthy tribut, ta the Moulders of Canada KX4ERMADI ILDINGS AND PAM ! Unlimited. r G- *IEWING COMPANY LIMITiD f i BORROW Without Endorsers Looking Their 1 .0 S martest HOUSEHOLD FINANCE*'CORPORATION..l aning Oshawa time equl valent of lend-lease. He put the estlmated cost to United States as being at least $5 billions a year for three years. Subse- quently, at Harvard University., General Marshall enunciated off j- ciaily the idea that United States could on]y help Europe if Europe was preparedIto help herseif.., At that point Ernest Bevin took the bail and rushed acrass to Paris to confer with Bidault. The .rest of the stary has yet to be written. But a word, in closing, about Canada's special place in this drama As I said earlier, Canada has- already played an important role in postwar aid. Proportionately to the United States our share has been tremendous. But for this country te make, THE CAMADIAN'LIFE INSURANCÉ OFFICERS ASSOCIATIOmI 1 further loans or credita at .t juncture, would, be clearly unwlu,. .Whcn you are tallclng abâut $2b billions of aid for Europe alontl (outaide of Bnitain) this countre it seems ta me, can oçil. particii& pate as a partner lu some ôveW* all scheme. Not as an independw ent. i Marklng Time Purthermore, the vlew Is noiO gaining graund that this problein can'no langer be tackled lu comM mercial terms. The main apet proach It is argued, must now bt through some type of «grants-Intt aid," or, as Dean Adtieson suggesl. cd, a peacetime equivaleut tô lendo lease. Thus Canada, la now marIz. ing time waiting te eeGe the out4 (Contlnued«on Page Pour) lý ý C3 - PACZ IM TM CANADUN STATES)MN. BOWMANVIIMZ ONTARTO op