The Cordova daily times., 1922-10-27
CANADA TRADE IS VITAL TO
 PROSPERITY


 tween Canada and the United States is vital to the prosperity of both countries, Paris R. Russell, vice pres- dent of the National Bank of Com merce in New York believes. Next to the United Kingdom, Canada is the foremost foreign buyer in the markets of the United States, while imports into the United States from Canada are not exceeded in value by imports from any other country except in oc- casional years from Cuba.
 By the accepted tests of greatness, Canada now ranks as one of the fore most nations of the world" MT. Rus sell says in the September number of the banks magazine, Commerce Monthly. "'It is immensely rich in natural resources. Its government is stable, it's population is thrifty and energetic, and it's businesss leader ship has been proved to be of the i'm aginative type requisite for the or ganization of modern industry. The banking and currency system is among the best and transportation fa- cilities, both within the country and with other countries, are equalied in adequacy only by those of the United States.
 "Four-fifths of all the foreign trade of Canada is carried on with the Unit ed Kingdom and the United States. Considerably more than half of total imports into Canada have long come from the United States, the propor- tion being slightly in excess of two thirds in the last twelve month period ending June 30, 1922.
 Canada is in that stage of economic development when population is small in relation to natural resources, and when exports of raw materials must pay for imported capital to develop them. In so far as Canada is a pro ducer of raw materials which the United States does not produce in quantities sufficient for domestic con- sumption, this country is a heavy buyer in the Canadian market. With few notable exceptions, however, the United States is a heavy exporter of exactly those classes of raw materials and food products which make up the bulk of Canadian export trade.
 Despite the growth of manufac- lures. economically speaking Canada is a new country and the domestic 1n- dustries are not able to meet it's rapid lv expanding requirements for manu- factured goods, which constitute large proportion of Canadian imports. At the same time, Canadian manu- lecturers have already proved them selves able to market successfully wide range of products in overseas markets This situation results prl- marily from the fact that the main ln- dustrial areas are southwestern Que bee and southeastern Ontario, ana manufacturers there are more advan- tageouslv placed in relation to mar kets outside of Canada than they are in relation to many sections ot the Canadian market, which can buy bet fer in the United States, the char acter of demand being practically identical in the two countries.
 "Today Canada is probably the most favorable field in the world for invest ment, comparable only with the Unlt- ed States in the era of it's most rapid physical development, from the close of the Civil War to the opening of the present century
 "Both Canada and the United States possess the incomparable advantage of having developed in the period or modern transportation with the result that national minedness has extended the width of a continent. This is one '''AN' is the basis of the outlook of their bus mess men.
 'The two countries have identical standards of living and methods Of production, and there is no material difference between their distance to the main markets. Except as affected by climate, there is no marked differ ence in the character of the natural resources of the two countries, or their products. In a general sense, their development has been and will con- tinue to be along parallel lines and in overseas markets they are rivals. In so far as there is trade between the ] two countries in products of a non- cOmpetitiye character proximity