Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-28
Power Spells Growth
To Canada Industry
BY HARDEN COLFAX.

Ambitious estimates of hydro-elec-
trio development in Canada spell not
only an industrial expansion OF the
Dominion. but increasing independence
from the fuel problem.
II. on the other hand. United States
dollars are contributing to the develop.
ment Of the water power resources OF
the Dominion. this very Development
is adding to the difficulties OF the coal
operators of the United States. These
operators for many years have found
Canada their most important export
market. one worth very close to $l3.-
600 900 q year under normal price
conditions.
First-hand investigation this week
of the industrial situation In the
Dominion and Of the expansion which
has attracted attention on both sizes
OF the border. without approaching
anything smacking OF a boom. as
closes that many Of the factories which
are being set up in the industrial CEN
ters of Quebec and Ontario Provinces
are branches of powerful United
States firms. These were attracted here
not only because of the Canadian mar
ket which they thus may serve with
out payment Of tariff duty OH their
products but also because by export
ing from Canada to other parts OF the
far-fiung British Empire rather than
shipping to the same destinations from
the United States, they are able TO get
the substantial benefits OF the prefer
entail tariffs which all parts OF the
empire extend to one another.
The Dominion bureau OF statistics
announced at Ottawa this week an
estimate that the population OF Canada
increased during the last fiscal year
by l3s, 900 TO q total Of S.796,000. with
Ontario and Quebec. the industrialized
provinces. getting the lions share OF
this increment.
There Is small disagreement In Cana
dian and United States figures on the
financial investments OF the latter In
the Dominion. OF the S., 706. 600 600 OF
foreign capital invested In Canada at
the close of the fiscal year just ended,
private financial authorities Of Canada
calculate $3,313, 000, 900 to be from the
United States, and these figures are
viewed by the United States Depart
ment of Commerce as accurate. This
sum Is 81 per cent Of all foreign capl-
tai invested in Canada, 80 per cent be-
ing British and only 4 per cent being
from other countries.
But while the United States capital
is still pouring into Canada, with a net
investment of new money in 1923 total
dawn from overseas investment by war
and postwar conditions, again mas
struck q longer stride. and new capital
from that source is coming here more
rapidly in proportion to existing in
vestments than is United States money.
And, incidentally, Canadians last year
are calculated to have invested some
$lO1 ,OO0. 900 in the United States, which
figure includes security purchases OF
important railroad paper. which is con-
nected with major lines in the Do
minion.
with one exception 1928 was Cana
da's greatest year for installation OF
hydraulic turbines, $4,000 horsepower
being installed last year. while develop
nents which when completed will bring
in l,200,0O horsepower capacity adj
ditional were under way and are being
carried forward this year. Several
huge developments and some smaller
ones are in prospect and are expected
to reach q more definite stage before
1879 closes. Problems Of the relation
ship between the several provinces and
between provincial and Dominion gov
srnments havA arisen In this hydro
sleetxie deyel6Sment which u many