—— a ef Prince Rupert Daily News i Wednesday, Oct independent. daily newspaper devot and Northern and Cer imbia, Member of Caz d of Circulations Canadian i Nev ciation Published by The Pr s Limited J. FP. MAGOR, President Vice-President ding of Prince Rupers Subscription Rates y carrier—-Per wees mail—Per month ethorized as-second > Department, Ottawa, the Dangerois Side Road r hetter to Abbott FFORE ‘these words are uttered the-seene May | ‘the papers that you are wor- ried by the size of your sur- plus. ‘It seems you Rave too much money im’ the bank be- 2 2 change again, but by last report we are going to jave an early election after all. Since a session of he ‘House is also to be held, by Premier |Bennett’s lecilaration, the situation arouses curiosity as ‘to what “kind «06,1 ‘ation the Social’ Credit govern- more than you figured. U.S. dollar is mew at a dis- Dear Mr. Abbott: Issee-by |J cause, once aga@in, your taxes | have brought im a: great deal }} I see also thatthe fact the | count is playing hob with | ment plans ty stbject to such.a quick .death. some of our most important industries in Canada, mamely the wheat farmers, the pulp and paper makers, the gold . sea amd base metal miners, and ‘treneth is sufficient to keep the 80 ‘On. ‘$81 ine thr Ast. as long as ire ie ay Why not kill two birds with ession goiter Ast. as lon as desired. As it is now one stone? Why notiuse your hundreds of millions .of .del- lars now lying idle in Canada to buy Canadian stocks and bonds on the open market in U.S.A.? rents appear to be in the offing. By my layman’s figuring ; the treasury of Ganada-would net a clear profit of three per- cent every time you exchang- ed an idle Canadian dollar for an interest-bearing bond held in U.S.A. Also, by my figur- Within fawlhy broa limits, the government: can xpect support from the Liberal and’ Conservative nembers whose vident, however, that the government has no in- ention of cruising a.iong for an indefinite length of ime with its present representation, bold develep- Whatever happens, it will undoubtedly be well o the right. In taking this starboard course, the overnment will be guided not only by party prin- iples but by the need to shake off its allies who have aetna on = an ound that: going too much in that direction-is dan- | solute. parity between the . Canadian and US, ‘dollars with great benefit to those, like wheat farmers and min- ers, whose tltimate prices are fixed on the world market value of the: U.S. dollar. I.am, yours truly, etc. erous. It will be dangerous, too, for the Premier and is cohorts, but it will also be strategic, While. June DY ic } Os oh r “pach i hea ip j ‘ Hl still reasonably fresh in ‘the public mind, a ay, ete. juick-ele¢tion is-so much' to their advantage that it |THE FacT that the Canadian vor é st¢ r pisk re : dollar has been at.a heavy worth almost any risk to get one, prenstn Geko a tines a Their main problem, therefore,'is to get dff' the | recent. months gives many a : Canadian a mild -chuekle-es- pecially when so many visitors blew their teps at having. to. pay , the exchange rates. Many. Can- |adians not unnaturally -remem- ' ber the time »when earlier ‘con- tingents of tguimists’ were cash- jing in .handsomely .the other niddie: of the road as soon as possible and. deliber- itely head for defeat in the House, More Explanation Needed F officials of the Aluminum Company of America way arouid were serious in their announced intention to es- Who did not get a smile out ek tk within ee | or meners ite aa of the story of thé Canadian top ablish a giant project nea Skagway, they ‘would [tanker wholdgbiled his speech ie Well advised to step into public print again and | to assembled. New ‘York bankers : } ‘nlaini thus a o some further-explaining. ‘Unaccutdiann €2°% om 4 It would be a good public relations move, if {speaking in-soft currency coun- i tries , z But over a period of years a lat In some tmysterious way they expect to bull | Camadian dollar, yralued ,even Re oe oe ee il ee ee aed atoye Prive percent ovedihe US. dollar heir way through into using Canadian waters [woud be a disastrous thing ‘for ith only token gestures towards the Canadian goy- | this country. » Itg would be -an = nal extra’ five perdeht aad riff on Can- rnments concerned, adian exports USA. and it This, of course, is manifestly impossible and no ‘would be a like penalty on U.S. : » ae investment and tourist money me watching the picture ¢an Nave. any doubts ‘that pcoming into @emada. ome stiff bargaining lies ahead. Ye e tone of * rae ce tiff aoe ae " ead Yet th tone I WOULD like to hear from ‘Mr ‘\LCOA’s pronouncements so ‘far leaves little room Abbott on the above uncopy- r anvthine this-startline j le dak ol be righted plan, either’ by letter or i inything but this tartling interpretation. _ better still ‘by aetion. Bat just Having stated with a certain amount of detail |in case the Minister of ‘Finance ' . ; bil aed ‘ 4 ee os s sj» | dees not answer -I -should also id a considerable amount of confidence the of fl ites to Seer Sian Geka: plans for the area, company-executives add in an | what.do you’ thimkcof a plan incidental way that-unidentified-Canadian officials | © "educe the exchange differ- ° : iia ences. between the countries by are co-operating. From this it would almost appear | using idte Canadian’ funds to re- th; 2» whole matter is hei ‘ . : . |duce Canadian interest-bearing hat the whole matter is being handled through ow | didetacianhd initia. ¢ Would» such a’ plan work, anid if not why not? By a I would also like to get read- raordinary approach to publiciz- ers’ ideas as to whether or not ing its project allows other it is a good ‘thing ‘to ‘have’ the . proyecy al ne wher, Canadian dollar valued higher A more conventional and more acceptable |than ‘the US. dolar; and also moet} cael so ere as Ni ? i " i a whether it is‘ever a good’ thing mi thod would have be en first to go into consulta lee 'Heave ‘the “6. -Midlar -vatesd tion with the appropriate federal and provincial | higher than our-own . tice ten Clanate anA shrek 10 ciate + + + author itle¢ In ( AEAe and then, if agre eabl to both OUR ‘TROUBLE with ordinary sides, ‘to release a nt statement that the scheme Canadians is‘that they think aon hence tderati such things as gold ‘prices, was under consideration, money exchange rates and 5890 Without this or some further explanation, we [forth are far too complicated for : f : . 'them to understand. ‘Yet only a/| are ‘foreed to assufe that either ALCOA has little }tew months ago-we had a good | coneern for the Canadian ‘part in the scheme, or t othing else, for the impression has been created trade eon missioners, or equivalent representatives, in'the States. is also is an absurd conjecture, but the company's e: ] example of how public ‘pressure can change and unwise policy. ¢ that the announcement was thrown up as a trial | our Minister-6f ‘Finance, urged | balloon to see how somebody unknown to us would | °%,>¥ Mounting “Canadian pro- | | test, finally led an international} react. revolt at the arbitrary fixing o!' | In any easeit-is not good public relations, and | gold selling prices by the U.S.|}*you meed ‘distinttive printed treasury. Canada re-won a’ tiny those citizens who are madly buying up real estate | slice of ‘her freedom to sell}}:ousiness? some gold wherever «she coutd | in Skagway probably do not think so either. Scripture P. assage for Today “The secret things belong unto the Lord our’God.” ~Deut, 29:30. |get the most‘ for- it. 1 ‘Dead in‘ Latest Korean Casualties OTTAWA ())—The Army Tues- day issued its 138th. casualty list ~ | of the Korean war, reporting one man dead. of wounds and 10.men wounded in ‘action. "The last | ) FT T ER B OX X | previous list was issued Sept...24. | “This. brought to 1,049 the num- |ber Of casualties suffered -by Editor, Daily ‘News: and other miming companies|Canadian troops in Korean We are ‘indeed pleased with|have done © Unrge wamaant ot aations They include 188 dead, # your summing up of our brief) _ ah ao _ | 177 wounded,.72 injured, 10 mis- in yourseading Editorial of the|¥°"* Arilling, drifting etc., ae arid one prisoner of war. 24th. We believe that this is ee a ~- serious matter of concern for|® 0 sail Lake. e | the entire province and’ ia results indicate large mineral} NORTHERN ARTISTS issue which ‘for several reasons|POdies and the likelihood of| | CHURCHILL,\Man.'@-