CANADA'S STABILITY
HER SOUND TRADE POSITION. AMERICAN CAPITAL ATTRACTED. Press Association—By Telegraph—Copyright LONDON, September 9. Canada has wrested from the United States the first place in currency stability. American dollars were quoted at Montreal on Thursday at a quarter of a cent discount, as compared with 25 to 30 cents premium at the beginning of the year. The chief factors contributing to the change are, firstly, the steady improvement of Canadian trade and industrial agricultural production; secondly, the slack American trade conditions, resulting in the investment of American capital in Canadian securities; and 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 some day at par when she can obtain loans on a parity basis from America.—A. and N.Z. Cable.
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Otago Daily Times, Issue 18656, 11 September 1922, Page 6
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149CANADA'S STABILITY Otago Daily Times, Issue 18656, 11 September 1922, Page 6
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