The Alaska daily empire., 1922-09-19
TRADE WITH CANADA.

Trade between Canada and the United States al to the prosperity of both countries Paris ssell vice president of the National Bank Of rec in New York believes. Next to the Un n gdom Canada is the foremost foreign buyer in rkets of the United States, while imports , United States from Canada not exceeded ue by imports from any other country except asional years frCm Cuba In the September Il of the banks magazine Commerce Monthly, ssel says:
 By the accepted tests of greatness, Can ada now ranks as one of the foremost nations of the world. It is immensely rich in nat ura resources. It's government is stable, it's population is thrifty and energetic, and its business leadership has been proved to be of the imaginative type requisite for the or ganization of modern industry. The banking and currency system is among the best and transportation facilities both within the country and with ether countries, are equaled in adequacy only by those of the United States
 Four-ffths of all the foreign trade of Canada is carried on with the United King dom and the United States Considerably than half of total imports into Canada have long ccme from the United States, the proportion being slightly in of two thirds in the last twelve month period end ing June 30, 1922.
 clear realization of the character of the national consciousness of Canada is the first step toward an understanding of the international position and relationships of the country. Whatever the technical term which may be applied to the political status of Canada, in effect 1t is proud and wig orous nation, sure of its future, rejoicing in its share in the leadership of the world, and also rejoicing in its place as an integral part of the British Empire.
 Canada is in that stage of economic deve- opment when population is small in rela- tion to natural resources, and when exports of raw materials must pay for imported capital to develop them. In so far as Canada is a producer of raw materials which the United States does not produce in quantities sufficient fer domestic consumption, this country is heavy buyer in the Canadian market. With few notable exceptions, how ever, the United States is 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 manufactures, economically speaking, Canada is new country and the domestic industries are not able to meet its rapidly expanding require ments fer manufactured goods, which consti- tute a large proportion of Canadian imports. At the same time, Canadian manufacturers have already proved themselves able to ket successfully a wide range of products in overseas markets. This situation results pri- marily from the fact that the main industrial areas are southwestern Quebec and south eastern Ontario, and manufacturers there are more advantageously placed in relation to markets outside of Canada than they are in relation to many sections of the Canadian market which to in ho nj tod States, the character of demand being prac- tically identical the two countries
 Today Canada Is probably the most fav- orable field in the world for investment comparable cnly with the United States in the era of it's .most rapid physical develop ment, from the close of the Civil War to the opening of the present century. Although as is the case in all new countries capital must be sought beyond it's borders, the capi- tai accumulation of Canada is very great Canadian financial journal states that from 1915 to 1921, more than $2,512. 900 900 of Dominion, provincial. municipal and corpor- ate securities were sold in Canada
 Capital not supplied by Canadians has been secured chiefly from inv estors in the United Kingdom and the United States From 1915 to 1921 Canadian government and cor porate securities amounting to $1,194, ,00O. 900 were foated in the United States In addi- . fion to industrial securities and government bonds, some United States capital is invested in industrial undrtakngs not represented by securities issues, and it seems probable that the net total of United States investments in Canada must now be much as s1,5OO,- 900,
 Both Canada and the United States possess the inccmparable advantage of having de- yeloped in the period of modern transporta- ton with the result that national minded ness has extended the width of a continent This is enc of the secrets of their greatness, and is the basis of the outlook of their busi- men.
 The two countries have identical stand ards of living sihd methods Of production. and there is no material difference hef waen