Evening star., 1952-08-17

pleted by 1855 will require an addi-
tional So billions.
Many of the projects are of long
run Importance and heroic propor-
tions: The construction of 350-mile
railway to tap huge iron ore de-
posts in Labrador; the building of
thousands of miles of pipeline to
carry oil and natural gas from AL
berta to industrial markets in the
east and on the Pacific coast; the
creation of great new power-generat-
ing and aluminium and cellulose
manufacturing facilities in British
Columbia, and expansion in metal
mining and processing, the chemicals
industry, and the manufacturing Of
pulp and paper.
What this resources development
can mean to the United States is
obvious when it is considered in the
light of the report of President Tru-
mans Materials Policy Commission.
America, the commission said, has
outgrown its resource base; is con-
suming more raw materials than it
can produce. It must turn elsewhere
to a progressively greater degree for
the raw materials it needs. And, of
&. all the possible "elsewheres" in the
world, none is better situated to
meet Americas needs than its
northern neighbor, Canada.
Rich in Minerols
This country. richly endowed with
minerals in the vast pref -Cambrian
shield which was once thought use
less wasteland. produces 80 per cent
of the worlds nickel and 80 per
cent of its asbestos. 1t stands second
as q producer of aluminium. zinc.
gold and uranium, third in silver,
and fourth in lead, copper and CO.
bait. With the development of dor
mant deposits of iron and titanium
ore, it will soon become a major
supplier Of both these minerals.
Canada controls the world price
of newsprint because SIS per cent
of the worlds supply comes from
its mills. It is second only to the
United States as a wheat exporter.
And, by virtue of new discoveries
in Alberta in the last five years, it
is on the verge of becoming a major
exporter of oil and natural gas to
the Western United States. Last year
alone petroleum production increased
by two-thirds, and crude gas re-
serves by more than 40 per cent.
On the manufacturing side, pro-
duction of durable goods increased
81 per cent in the last five years;
non-durable goods 20 per cent; iron
and steel So per cent; transportation
equipment SO per cent. and hydro
electric power Is per cent.
Statistics Of Prosperity
Gross national product reached
$21, ,241 100000 in 1851, an increase
of II per cent in value and per
cent in volume over 1850. Farm in
come went up 80 per cent, wages
and salaries II per cent, and in
vestment income Is per cent. The
average workingman earned $2,551
last year.
The value Of Canada's foreign
trade leaped from Sc billions in 1850
to So billions last year. The net
result was an export deficit of 1924
millions, but this was more than
made up by o heavy influx of Amer
lean dollars seeking investment in
Canada. The strength Of Canada s
balance of international payments
position enabled the government to
abolish all foreign exchange controls
at the end of 1851.
American investors, who now have
So billions in this country, are not
the only people attracted by Cam
ada's opportunities. Other capital.
notably British and Swiss, is flowing
in. And Canadians themselves have
faith in their future. About nine
tenths Of the record-breaking cap
ital investment Of $4,581 .000, 900 in
1851 was financed out of the savings
Of the Canadian people, to the ex-
tent Of 20 per cent Of the national
income. Estimates Of capital invest
ment this year are up 13 per cent,
to $5,l81. 100000.
Influx Of New Residents
Canada's opportunities have also
attracted q near record number of
immigrants since the war-men and
women who have brought new skills
and knowledge and cultural contribu-
tions to enrich Canadian life.
Before the war immigration in this
country was like pouring water into
leaky bucket. Many immigrants
from overseas went right through
the bottom Of the Canadian bucket
into the United States.
Canada still gets transitory immi-
grants. but they're far fewer than
they used to be. From the end of
the war to January /, 1852, last,
$4,000 immigrants entered Canada,
Wills smigrat1on from Canada to
= 81