PROSPEROUS CANADA

Hawera Star, Volume XLVIII, 2 March 1929, Page 5

PROSPEROUS CANADA

SURPLUS ON YEAR’S WORK SUBSTANTIAL DEBT REDUCTION DOMINION’S TRADE POLICY. (Australian Press Association —United Service.) Received 10.55 a.m. to-day. OTTAWA, March 1. For the fiscal year ending March 3, Canada lias a net surplus of 69,782,000 dollars, the Minister of Finance, the Hon. J. A. Robb, announced when presenting the Budget to Parliament. The net debt had also been reduced by 70,000,000 and there was a favourable trade balance of 154,000,000 dollars for ten months of the fiscal year. ■He stated that 42 per cent, of the total expenditure could be attributed to war obligations. No direct reference was made to the fiscal policy in relation to the United States, but the Minister referred to Canada’s increasing foreign trade in a way which suggested that Canada has adopted a policy of “watchful waiting.” He declared: “It is our desire to trade freely with any and all who are willing to trade with us, but other things being equal, our policy is of favouring those countries which favour our products.”