CANADA AND WAR

Otago Daily Times, Issue 24205, 25 January 1940, Page 14

CANADA AND WAR

PRACTICAL MEASURES NOTHING BEING LEFT UNDONE COUNTRY NEVER MORE UNITED / • "In the time available, nothing has been or is being left undone which could reasonably be done by the Canadian Government, and* by the public service to give full effect to the contribution which Canada is; making to this war. I believe equally that every Canadian will do his or her utmost to make good the undertakings given by the Government in this vital struggle where everything we hold dearest and value most is at stake." In these few words. Mr J. L. Ralston. K.C., Canadian Minister of Finance, summed up the undaunted spirit of the Government and the Canadian people in their war efforts in the course of a recent address over a nation-wide radio broadcast, states a Canadian News Letter from Ottawa. Recognising that modern mechanised warfare really is a grim and costly and long-drawn-out business, the Canadian Government ' had determined that Canada's effort should be practical rather than spectacular, he said) "This war programme which we started is estimated to cost about 315,000,000 dollars in the first year of war—that is, up to the first of September next. That is about 50 per cent, greater than the total of all our war expenditures during the last war up to March. 1916, and is almost as great as our war expenditures in the fiscal year 1917-1918 when the Great War was at its height." Mr Ralston stated that everything pointed to the present war being a long one. "We must plan not for one year, but for three, and Canada's participation must be on an increasing scale. Darticularly when the supply of war materials and our financing of their purchase bv our Allies are such an important part of our war effort." Financial Co-operation When war broke out, he said, an issue of Canadian Government 3i per cent, bonds payable in sterling was held in England. This issue was not due till 1950. The Canadian Government immediately notified the Britisn authorities that Canada was prepared to provide Canadian dollars to purchase these bonds. The British Government procured the bonds from the holders in the United Kingdom, paid for them in sterling, and the Canadian Government, in exchange for these bonds, " has placed at the credit of the British Government some 92,000,000. Canadian' dollars which are available to the United Kingdom Government to use in the purchase of supplies in Canada." Mr Ralston stated that "plans are already under way by which the Canadian Government hopes to provide additional funds as may be arranged in further financial and economic discussions between the two Governments." He emphasised the fact that "the task of providing Canadian dollars for United Kingdom purchases as forecast in our programme is already a realised accomplishment to the extent of nearly 100,000,000 dollars."

Prevention of Profiteering Other financial and economic measures adopted by the Canadian Government in its war efforts include the setting up of a wartimeprices and trade board " to prevent profiteering and insure that needless shortages of the necessaries of life should not occur"; the establishment of a war supply board which, "in addition to its purchasing functions, is charged with the much broader responsibility of investigating sources of supply and seeing that our industrial resources are organised and utilised in the most effective way to meet the needs of our Allies as well as ourselves"; and a Foreign Exchange Control Board to "prevent the dissipation of our capital resources and maintain the stability of the Canadian dollar."

In a democracy, a war effort, like any other national effort, must be the effort of the whole people, Mr Ralston declared. He believed that "never has Canada been more.united and more determined to do its part." He had received numerous letters enclosing voluntary contributions to help with the war. . These showed the "spirit of the friends of democracy everywhere who wish to do their part in winning war. It is that spirit which makes me confident that when the time comes the money needed to wage war along the economic front will be forthcoming, and that those who enjoy the benefits of comparative security at home will be just as willing to do their part in winning the war as our young men who are so ready to give their all in the fighting forces." Voluntary Contributions The Canadian Minister of Finance told of a few of the voluntary contributions which he had received. A school teacher in a small town in a neighbouring country sent, a 400dollar bill with an earnest expression of her belief in-the justice of the cause and her desire to help. A retired judge is sending in to the Treasury 100 dollars a month out of a relatively small, superannuation income. .■■■,. A Japanese living in. British Columbia sent 100 dollars.with the following message: "Being a resident of Canada for 32 years, I always have been bearing in my heart to express on behalf of my family and myself our sincere gratitude for the peace, freedom, and benefits of Canada which she has rendered me during all these years." v- - Another man of moderate means has offered to lend the'Government 10,000 dollars free of interest foi\ the duration of the war. Several persons are donating to the national Treasury their coupons the Dominion of Canada bonds "which they hold. > .- A woman in New York sent 2000 dollars "as a small effort in backing democracies against totalitarians." \ A wealthy non-resident with a substantial investment in Canada has voluntarily agreed to turn over, to the Dominion Government all interest and dividends received by him from Canadian sources during the course of the war. - - '£.