The sun., 1919-06-03
CANADIAN STRIKE WORK
OF FOREIGN AGITAT TORS
Trade Conditions Sound at Bottom but Labor Is Not
Evenly Distributed Expert Takes
Hopeful View

, ada during the great -upheeval thai
made chaos in Europe and prosperity
In America
During the nscal year preceding the
war. Canada imported In value $3.50. 000,.
900 and exported $751;, 200, 900, q total
trade of s1,026. o00.0 900, with an adverse
trade balance Of S1b.000,o00. In the
fiscal year ending March 81 imports had
risen to fe16,oo0.o0o and exports to 81
| 207, 200, 900, with q favorable trade bal
ance Of 1921, 100000. While this re-
markable trade expansion and change
from q nation with an unfavorable trade
balance to an enormous increase of ex-
ports over imports has been attributed
to war conditions, yet the trade returns
for the first four months of the present
year warrant the deduction that Canada
has consolidated her industrial develop
ment and will maintain and improve the
position attained during tho past four
years. For the FIRST four months OF the
present year Canada imported $685.
100000 worth Of goods. as compared
with e27s.000, 900 during the correspond
ing period In 1918, and exported 1884,
100000 worth, as against $36s,000.0OO
last year, indicating the stability of our
trade compared with the war period and
also that a favorable trade balance has
become commercial probability.
Market for America.
To the people Of the United states
canada's trade expansion is of peculiar
interest. Canada's 100000 people are
the United States second best custom
ers. During the year just ended Can
ada's trade with the United States ag-
gregated s77s,o00,ooo, nearly one
seventh of the total trade of the United
States In that period Canada bought
from the United States goods TO the
value OF $3.50, 000,0 900 ana sold to the
United States S3<6,0oo,o0o. Our i'm
ports from tho United States were chiefly
in form of tho unfin ished product, while
We shipped in return vast quantities Of
raw material.
With the vast Canadian areas attract
ing settlers the people of the United
States will readily comprehend tho won
derful market which must develop in
Canada. The Canadian people welcome
trade with the United States. The two
markets are contiguous and similar.
Canadians believe that the United States
market affords opportunities for them
and that In their own country IL a vast
field for American commercial activity
There is no hostility. but rather irdica-
lions OF q desire for friendly coOpera-
ton to commerce consistent with the
economic ambitions OF each people
As remarkable as the commercial ex-
pansion and solldity is the growth Of
Canada's financial power. Previous TO
the war Canada never raised q domestic
loan for national purposes, but borrowed
in the United States and Europe at the
rate OF $1.oo0,oo0 day. Except for
small advance from Britain in the early
stages OF the war and 5000. 900
raised in the United States Canada paid
her war expenditure from revenue and
domestic loans, financed allied credits
70 the extent Of $4,000, 900. OF which
only 100000 has been repaid. and
IL still giving credits for trade purposes
to European countries. During the war
in domestic loans Canada subscribed
81. 400. 100000 and paid from current
revenue one-eishth OF our war evpendi-
ture. Canada's difference has kept pace
with its commercial expansion.
During the last four years Canada
has changed from borrowing to a
loaning nation. from having an unfavor-
able trade to a favorable trade balance
and has reached a stage OF permanent
expansion in the several Industries with
unparalleled rapidty. There are in
Canada vast fields for development: and
that development certain and soon
means a trade expansion in keeping with
that OF the past decade.
AS TO your specific inquiry regarding
the oil industry in Canada I have 10
say that while the results OF several
years OF EFFORT and the expenditure of
a considerable amount annually in
search OF oil In the Canadian Northwest
have thus far proved fruitless, we have
not lost faith in that territory, and an
exploration campaign OF some consider
able magnitude continues to be carried
out In that vast empire which stretches
from the international boundary to the
frozen fastness OF the far north