Canada built its entre economic structure, and a living standard second only to that of the United States, upon the basis of foreign trade. states the "Christian Science Monitor. Small among the nations of the world, it became fourth among the world's traders. Its wheat, lumber, paper, minerals, fish, fruit and manufactured products moved all over the globe, but chiefly they moved to the United States and Britain. Today Canada suddenly finds itself with its greatest cash market, Britain, unable to buy here in cash, and its other great market, the United States, buying here far less than it is selling. This is a complete and revolutionary change in Canada's position in the world of trade. Nothing like this ever happened to Canada before, from the first days of the fur trade until the present.
When the war is over Canada will have to reconsider its entire position in relation to Britain and in relation to the United States. A new deal both ways will be imperative. Canada's need in relation to the United States will be more sales in the American market. A ne tariff bargain will be essential. Toward this the two nations were moving under reciprocal trade treaties before this war began, but all thei dealings were upset by the war's impact, by Canada's need for huge quantities of Amer: can war goods, by a restriction on luxury imports, by the present unfavourable trade balance.. 4 The need of such a deal may be greater afte: the war than ever before, even from the standpoint of the United States. If Canada has to borrow from its neighbour to support its huge war programme, as may welt happen, the loans will have to be repaid in goods. The United States, to collect its loans, will have to take Canadian products.
Text read from the printed page and cleaned; old type leaves the occasional error.