Mr. Massey said that they had been more fortunate than they realized in their recovery from the great depression. Last year in Canada, in relation to population, employment was greater, production and dividend payments were proportionately more substantial, the cost of living was lower, and the relative increase in national debt far less than in the United States.
Again, in the 24 months just ended, the index of business activity in Canada had suffered about one-quarter of the decline which it met in the neighbouring country—that in spite of the comparative failure of last year's wheat crop.
These were impressive facts, and although economists rarely agreed on anything, they would undoubtedly concur in the view that Canada had been fortunate in acquiring, in a striking degree, both stability and self-reliance as well as a more balanced economy.
One of the factors which had helped them to stand-more firmly on their own economic footing was the development of Imperial trade and the system of preference between themselves and other British communities.—Wireless through Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.