BRITISH DEALINGS WITH CANADA
No Alteration In Arrangements
ANNOUNCEMENT IN OTTAWA
(Rec. 11.45 p.m.) OTTAWA, August 21. The Canadian Finance Minister (Mr Douglas Abbott) announced to-day that the British action to restrict the transferability of sterling had made no change in the financial arrangements between Britain and Canada. Under these arrangements, British purchases from Canada are financed partly by drawings on the 1,250,000,000dollar Canadian loan and partly by Payments in United States dollars or gold. Mr Abbott’s statement arrested fears that the latest British action Would mean the end of the badly heeded flow of United States dollars to Canada. [Canada’s adverse trade balance with the United States on June 30 was 488,000.000 dollars.] The deputy-governor of the Bank of •England (Mr Cameron Cobbold) has arrived in Ottawa from Washington, SB??*® he has been a member of the Jaritish financial delegation. It was stated authoritatively that the chief topic which he will discuss with Canaaian officials was the question of con .tinuing to help Canada witn American dollars.
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Bibliographic details
Press, Volume LXXXIII, Issue 25270, 23 August 1947, Page 9
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168BRITISH DEALINGS WITH CANADA Press, Volume LXXXIII, Issue 25270, 23 August 1947, Page 9
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