CANADA’S DOLLAR.
BEATS THE AMERICA. FIRST IN CURRENCY RACE. London, Sept. 9. Canada has wrested from the United States first place in currency"stability. American dollars were quoted at Montreal on Thursday at a quarter of a cent discount compared with 25 to 30 cents premium at the beginning of the year. The chief features contributing to the change are: Firstly, the steady improvement in Canama'n trade and industrial and agricultural production. Secondly, the slack American trade conditions resulting in the investment of American capital in Canadian securities. Thirdly, the restriction of American exports to Canada owing to the strikes. The “Daily Express” points out that Canada cannot afford to borrow from Britain at the present rate of exchange with the prospect of having to repay same day at par, when she can obtain loans on a parity basis from America.— ; (A. and N.Z.)
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Bibliographic details
Hawke's Bay Tribune, Volume XII, Issue 230, 11 September 1922, Page 5
Word Count
143CANADA’S DOLLAR. Hawke's Bay Tribune, Volume XII, Issue 230, 11 September 1922, Page 5
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