Abstract

Everybody's Business
Hutchison, Keith | December 13, 1947 issue

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The article focuses on the Canadian government's program for rectifying the nation's adverse trade balance with its southern neighbor. Its sole purpose is to stimulate production of the one commodity which can always be exchanged for United States dollars. One of the measures is for subsidizing gold production. It is an expedient which can hardly be defended in terms of rational economics. Washington D.C. Treasury and banking officials are definitely disturbed by the Canadian government's move. Another Treasury worry is that the Canadian action will be imitated by other gold-producing countries, with the result that it will be called upon to buy even greater quantities of the metal than at present.

See Also:

BALANCE of trade; ECONOMICS; FOREIGN exchange; GOLD; INTERNATIONAL trade; CANADA
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