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TDE CANADIAN STATESMAN. BOWMANVILLE. ONTARTO 'I"HUP.SDAY, SEPT. l8th. 19* CANADA AND DOLLAR CRISIS SUDJECT. 0F INFORMATIVE ADDRESS BT JOHN DRACKEN For the past few weeks The ican dollar surplus. During ti Statesman has published opinions war years, we accumuiated a sur of ieading business authorities on plus of American dollars, but i the question of the dollar crisis. recent months they have been rap The aim lias been to acquaint the idly disappearing. public wîth the issue in a way In Britain the dollar crisis ha to understand its impact on the become a crisis of bread. If tho Canadian economy. present Canadian policy of "wait Further light has been shed on and-see" continues, we zhall havi the question by the recent broad- a crisis of coal. steel and ail. cast of Hon. John Bracketi, leader Britain Bankrupt of the official opposition in the It is not hard to understand hov Hocuse of Commons and chief of Britain got into this trouble. Be the Progressive Cons e r v a t i v e fore the war British people owr. Party of Canada. We quate below ed 'e'a billions of dallar! a summary of his remarks. Point- worth of property in the Unitec ing out that the dollar shortage States. During the first two yean as a grave threat ta trade, Mr. of war nearly ail these propertiE Bracken said: were sold, and the American dol In Britain, they are short of lars thus acquired were spent or American dollars. They conse- buying munitions and supplies il quently have to eut down their the United States. food rations &gain, and tighten Having mobilized their workei their beits stihi 4urther. to the limit in war industrie In Canada, are rapidly ap- British factories were robbed o proaching the end of our Amer- workcrs; goods for expart weri POSITIONS OPEN Dominion Govcrnment Department of National Revenue INCOME TAX DIVISION STENOGRAPHERS - TYPISTS - CLERKS Maie and Female Expcrienced or Inexpcrienced apply to Roomn 502, Dominion Public Building, 1 Front Street West, Toronto In Writing or Ini Person Yeu tell us...0 When you drive in, tell us what y( and yau'll get it 1 We wouldn 't di high-pressuring yau into getting anytli don't need. Auto service is aur sale b and we serve you sa well that aur se aur best sales talk1 GARTON'S GARA 64 KING ST. B. BOW ou want ream of ùng you business; ervice is GcE ~MAN VILLE lasulaie and SAVE Roi SLAVE! Avold sky-rocketingr coal bis! Enjoy extra warnith this winter by insulating your house now. Our agent wiIi ive you an estimate witbout obligation. WVhy flot phone us coiiect before the snow stops us eontacting you? Sealfte insulation with Rockwool F. A. BRUCE. "47 QUEEN ST. - BOWMANVILLE - PHONE 494 nat produced, and their expart trade dried up. This la the founda- tion af the dollar criais in Brit- ain. This situation was recagnizcd an the later years ai the war by the United States in their paiicy ai Lcnd Lease, and by Canada in aur poiicy ai Mutuai Aid. These wcre policies ai giving rather than af laaning, or ai seiling for cash, hc The same situation was recogniz- r- ed, and, ta a degree at ieast, was inmet at the war's end, by the loans made ta Britain hy Canada 'and P- the United States tataliing five thousand million dollars. as Sa much for Britain. What xce about us in Canda? t- Canada's Position e In aur relations with the Unitcd States, we are in a somewliat sim- ilar position as Britain. We too iw buy tram aur neiglibor Repubiic -- much more gaads than we seil ta i- them. Our adverse trade bal- rs ance with the United States this d year will be roughly a thousand .s million dollars. es Let us see what this means. The d- hast definite officiai figure given n by the Foreign Exchange Contrai n Board shawed that at the end ai 1946 they held slighthy leas than .s thirteen hundred million Ameni- es can dollars ai American funda. of If this fund continues its rapid e rate af depletion, it is easy ta see hthat a crisis will shortly be upon us unless some remedy la faund. Our supphy oi Amenican dollars will soon be exhausted, and, if in the meantime nathing is donc ta alter the situation, there wili be a crisis in this country. In aur case it wili not be a criais ai bread, it wiil be a crisis ai steel, and coal, and il-a crisis if flot headed off, wili bring business stagnation anci unemployment in its trail. The seriousness ai the situa- tion will be evident if we take a hook at coal and steel. Coal and Steel We are dependent an the Unit- ed States for approximateiy sixty percent oi aur coal supplies. If this warsening situation la shlow- ed ta develop, one immediate hardship we will face iL that ai vital coal supplies. As ta steel. Wê are apt ta for- get when we look at aur Cana- OFdian steel industries, that in many cases they are dependent for es- sentiai materials on imports from the United States. The simple fact la many ai them could flot carry on without United States importa. It la, therefore, clear that this problem oi American dollars is, at the present moment, aur num- ber anc Canadian problcm. What is the Gavernment doing about it? A few weeks aga, when the de- velaping situation couid no langer be kept fram the public, the Min- ister ai Finance, and his aificials, indicated in a public statement that the British situation wouid have but ittie efiect on us in this cauntry. Minister Confused A few days aga, the same Min- ister set out for London, and just befare leaving gave another state- ment to the press. ln the latter statement, he indicated that un- lesa the situation was restored, -by which Canada cauld pay for importa from the United States by lier expqrts ta Europe, radical and rcvolutionary changea in the en- tire econamic structure ai the country would have to be made. There you have the Govern- ment's iast word-"Radicai and revolutionary changes in the en- tire economic structure ai the caountry." What do these grave words mean? They can mean one or other ai two thinga. Either that by reason ai a drastic fail in im- porta, we wili suifer a seriaus de- cine in aur standard ai living, or that we must enter some ar- rangement with the United States, iresumabiy something approach- .ng Commercial union. If this ia what Mr. Abbott means lie shauld alk plainly, and not leave sucli ýrave matters ta inference. People Not Toid The ughy truth is, that the Gov- ernment, liaving begun by refus- ing ta iniorm the Canadian peopae oni the ful iacts ai the situation, are apparentiy now either incap- abeorfafu igiiga ed 's, * O *1 evade doing so. The Prime Min- ister spoke over a national net- work an Monday 1- 1, but made Ixot a single refcrence ta this mat- ter. And where la the Minister af Finance? 14fe is off ta Europe for six weeka ta a meeting af the In- ternational Bank. The meetIng is important, but anc af Mr. Ab- bott's expérts could have gone in- stead. The Minister af Finance shouid be here ta deal with this situation. I think it is deplorable that he shouhd be absent from the country for somne wceks at this time. He himself says that if this situatiafi is flot deait with it may invoive an econamic revolution in Canada. Mr. Abbott cannot meet an econamnic revolution in Canada by taking himseif off ta Europe just now. Hon. John Bracken policy which they foliowcd dur- ing the- war, and until Juiy, 1946. You wil recali that during the war and for a year following, aur dollar was vahued at 90c. This encouraged Americans ta buy in Canada because their dollar was worth $1.10 here, and discouraged Canadians frombuying inthe Un- ited States because aur dollar was worth only 90c there. A year ago iast Juiy, at the Gov- ernmcnt's decision, the Çanadian dollar was fixed at par with the American dollar. The Government authorities must now be seriousiy considcring whether they shouhd retrace their steps, although that la aiways dif- ficuit ta do. They might even consider gaing further than that, but if they do, they must have regard ta the terms ai the Inter- national Agreements, known as Bretton-Woods, the tcrms ai which I cannat take time ta dis- cuss now. Alternatives Another course suggested, is ta borrow a huge sum from the Un- ited States. Obviousiy this at best would be but a stoD-ean oro- posai. Moreover, aur interest bur- den even now i~s saggering; ana 1 think the Canadian people wil hesitate ta commit themacîves ta further intereat paymrents that wiil lie macle in the dollars that are now s0 acarce, and so vitalIy in demand. Anather course suggested is ta cut clown importa from the United States. This course is flot witli- out political and economic diffic- ulty. But here again we arc leit in the dark by tlie Government. You are aware ai the so-cailed Marshall Plan ai the United States. But, the Marshall Plan is, at best, a hope for the future. The moat aptimistie among us can- not belive that it will meet this present prablem in Canada. Sombre Picture A few days ago the British For- eign Secretary, Mr. Bevin, macle a proposai for a Commonwealth Customs Union. Proposais ai this nature we shouid be ready ta ex- plore. But again the Gavernment gives fna iead. The picture I have presented ta you la a sombre anc. How lias it came ta light sa suddenly? The truth la that it lias been coming ever since the war, but the Gov- ernment iaiied ta warn us. Why did they flot warn the country before this? Our party, the Official Opposition, lias been asking the Government ta give the full facta, but thp Gavernment have failcd ta do so. Even today, they arc trying ta WHEAT PRODUCTION IN AUSTRALIA Wheat Production Coats Com- rnittee lias been appointed by the Australian Commonwealth Gov- ernment ta report spccifically an reasonable costs ai production ai wheat per bushel in the main growlng areas, and wlietherbasic termn i costa could be established as an index te periodical varia- tions in production coats, says Ag- riculture Abroad. The survey ia expected ta take at least six months, and question- naires containing 70 questions have been prepared for distribu- tion ta 5,000 ai Australia's 67,000 iicensed wheat grawera. 0f the latter figure, it is cstimated that onhy 61,000 tQ 63,000 are "genu- mne" wheat farmers. The cam- mittec will aiso visit the main ar- eas for personal interviews. It la ai opinion that the average cost ai production ai wlieat must lie measured in relation ta the fact that normally a wheat farmer graws wheat only as a part ai has business, while grazing or deal- ing "on the aide." Kingston was the Canadian capital from 1840 ta 1844, and Montreal irom 1844 ta 1849. Darlinglon Council Wanis Information On Resiricied Area Darlington Township Council met Sept. 4 with members ail present. The Cherk was instructcd ta write the Dcpt. ai Games and Fisheries and have them attend the next meeting and expiain how ta include Dailngtan Township in restricted area re wiid game Assessor presented his report on new assessments andi returned the Rail which was accepted. These bis were paid: Bell Tele. Ca., service $ 4.90 Nina E. Neads, ina. --- 4.00 P. A. Blackburn, relief _ 31.63 Northcutt and Smith, am- bulance ------------- 6.00 Leslie Skewis, san. care. 42.34 F. L. Byam, relief -------- 23.21 Cawker's Gracery. rep1- ý . MYs. H. McClure, supplies 7.85 Norman Wooait, - inspection . ----------- - . Doug Bartan, sheep dam- ages ------- ----22.00 Ciaud Smith, relief ---- 21.25 Mrs. Minnie Hunt, house- keeper --------------- - 35.00 J. D. Hogarth, Aug. saiary 137.50 J. D. Hogarth, postage and excise ----------- 5.00 Provincial treas., insulin- 7.10 Bruce Yea, cutting grass in park ----------------- 7.50 Tyrone park, grant 100.00 Darlington park, grant -- 200.00 Mrs. Genevieve Eyman, relief ------- ---- - - 34.5.5 J. R. Reynohds, assessor - 612.40 Roads and bridges, main- tenance and repairs -- - 3528.85 Next meeting, October 2, at 1 p.m. No Leadership Why la it that the Government is sa sulent? Why do we get no information-no lead? I wili tell yau why. It is because they have na paiicy ta meet it-it is because they do not know what ta do. Their inflationary measures are back-firing. They ara at a loss ta know what way naw ta turn. In difficuit times the Canadian people will always.uphaid leader- ship. What wc are finding ta- day is, that there is no leader- ship-that there is no hand at the helm., Instead of direction and inspiration fram the Government, what we are witnessing la either weakness ai indecision, or a sil- ence which spelîs cantempt ai thé public. It is time that the Prime Min- ister gave us samething better than bits ai his biography as lie did last week at Waterio-it is time the Government camne ta gripa with this probiem. If the Government, in this im- pcnding crisis, has a policy but refuses ta reveal it ta the people, then it is being offensive toaa cardinal principle ai democracy. If it has no poiicy, if it is content ta siithcr along in doubts and in- decisian, hoping like Micawber, that samething wiil turn up, then its administration is flot facing realities, and it is guilty ai a mon- straus dereliction af duty. It is my part, and yours as weii, ta sec ta it that in either case the Government is hled ta strict ac- countability in this matter. IAuthorizing Reeve and Clerk ta purchase a site for a municipal dump. Granting Durham County Plow-' men's Association ten dollars. Accepting resignation of W. A. Reid as Road Superintendent, ef- fective on Sept. 30, 1947. Instructing Cicrk ta advertise, for applications for the position af Road Superintendcnýt. Tihe foiiowing bis were order- cd paid: Orono Times, supplies - 3.501 Counties treas., hospital- 77.641 Joseph-J. Mehior, salary-- 83.33 Josephi J. Meilor, postage expenses to convention 28.95 Mrs. E. J. Randaîl, R vs F 32.001 Mrs. H. Morris _ -------- - 5.00 Aiter care, 2 months 20.00 Durham Agric. Society, grant------------------------ 200.00 C. J. Allin, sheep vaiuer's fee - ----------- 3.00 R. H. Wood, care of hall- 23.001 Relief ----------------------- _ 15.00 Durham Plowmen's Assoc..................-- __10.00; Road Voucher No. 8.-----4737.11 Council adjourned to meet Octo-j ber 7, at one-thirty o~ciock. THOUSANDS of farmers across the country tell the Tsamne story of extra production . .. extra profits ...extra convenience . . . less work . . . with in- expensive DURO Pump installations. Se. us for com. plete information regarding equipment needed ta meet your requirements on the farm and in the home. EMCO FIXTURES AND FITTINGS.. Modernize your home. Safeguard the h.alth and add to the comforts of doily living for cil your family. See us for the latest in Kitchen, Bath- roorn and Laundry Installations. W. wiIl glodly give you full infoâlnotion Bert Parlker and S n'% Phone 651 47 king st. IL PLUMBING AND HEATING HflPIRSfltSS MFB. 10 ýLofDofl -ffimlLTofl-ToRoflTo-suD)iuURy-wiflfllPG -vAflcouW ~4R: *Canadien National Exhibition Tuent., Aug. 22 te Sept. 6 A PRODUCT 0P ONNERAL MOTORS * OY:W. NICHOLS COURTICE - - - - - ONTARIO Courses ln Stenography - Bookkeeping and Office Practice Start Either September 3rd or October lut but ENROL NOW Write or Phone 434 for Catalogue of Courses 154 KING ST. B. BOWMANVULLE PHONE 2666 Precise knowledgel Skilful handsl Infinite care[ Painstaking aftention to do il I Proved materiails, and the determination of the maker that his product b. without flawl THESE ore the ingredients of every Buick buit. THESE are the reasons why the news that flashes througk the automobile world about the new, big, beutiful, brwyBUICK I-oe atbls or ul Whn I M-741* TEM CANADIAN STATESMAN. BOWILkNVILLLF. ONTARIO Clarke Council To Purchase Site For MunicipalDump Clarke Township Council met Sept. 2, with ail membera; present. Lettera were read irom Domin- ion Raiiway Board re C.P.R. croasing hetween Lots 8 and 9, B. F. Cierk ta repiy we are await- ing report ai purchasing commit- tee. $ A letter re bill for privilege ai craasing a farm for $10,00 was read. Clcrk was instructed ta repiy that this bill had always been $7.00. A letter irom Mr. Little re the road ta his cottage in the Sixtli Concession was again reierred to the Cierk, asking for more in- formation. A report was given on the meth- ad ai coilecting dog tax. This matter was laid over for consid- eration.1 R. Rîley addressed Council re three bridges ta be built. He was, referrt to Municipal Engineer. Mr. Awde drew attention ai Council t o condition regarding roadway leading ta Lake Shore at Port Granby. This flot being a Township raad nathing couid be done. W. A. Reid's resignation as Road Superintendent waa read by the Cherk. The fallowing resolutioris were passed. Petitioning Dept. ai Highwaya for an interim payment on mon- cys spent on the roada up ta Aug- ust 31st, 1947. Continuing C. F. Awde as Cal- lectar up ta and including Octa- ber 7, 1947. PAGE TWELVIC IIMRMAY, SEPT. Uth, Mè .,lm the