Prince Rupert Daily News Mohday, October 20, 1952 Sill gi Silica lteter cthaaataeaciaians 1 independent daily newspaper devotéd to the upbuilding of Prince Rupert ana Northerfii and Central British Columbia, Member of Canadian Press — Audit Bureau of Circulations Canadian Daily Newspaper Association Published by “he Prince Rupert Daily News Limitea J. FP. MAGOR, President H. G. PERRY, Vice-President Subscription Rates Per week, 25c; per month $1.00; per year, $10.00 nLABED Per month, 75c; per year, $8.00, 7" thorized as second class Mai! by the Post Office carrier Department, Ottawa nother Letter to Ottawa i= “due consideration” being given in Ottawa to the Chamber of Commerce resolution ealling or a land airport here should, in turn, receive some reciprocal due consideration by Prince Rupert now hat former o Japan, In any cabinet shuffle it may be expected that iew considerations will not be taken up exactly where the old ones were left. Like the ministers themselves, they become slightly shuffled, tov, Although it is not known exaetly what positi the Chamber of Commerce resolution occupied 11: the pack, the prefix “due” not suggest any substantial priority. On the contrary, that -is more a secretarial code wosd then that of a minister strongly impressed bry the issue in question. With two B.C, men newly installed in the cabinet, the Prinee Ry pert airport problem should, on the face of it, fare Letter than before, At the same time, ‘here hae een no indication so far that it is to enjoy the major rating on the west coast which, for «xamy'<, wil! be civen to the proposed sale of the Vancouver airport to the federal gov- ernment, If that is the case, it must be changed. As Misheries Minister sinelair is evidently to be re- sponsible for the smooth operation of Liberal affairs in B.C, outside Yaneouver, Victoria and Nanaimo, he would appear to be the man most able to do it. At the risk of being repetitious, therefore, it would seem that the Chamber of Commerce has another letter to writethis time to Mr. Sinclair. Set Out of Columbia Y THE SMALL and seemingly purposeless act of contesting the fortheoming by-election in the Columbia riding the Liberals may be handing the provincial government over to the CCF. If this is their intention, the plan is well de- signed as there could hardly be a cheaper and more simple way of effecting a change of government. 3y drawing a few votes away from the other free enterprise party, Social Credit, they would greatly improve the chances of the CCF candidate, Should the latter win, his party will immediately have a plurality in the House, no matter what happens in the Similkameen by-election being held the same day. . Fisheries Minister Mayhew is moving This is so beeatse in the one-seat margin which Social Credit now holds there is no room for any- thing but 100 per cent success, Fifty per cent will definitely not be good enough, Without a plurality in the House, Premier Bennett would be faced with a pressing moral obligation of resigning and recommending forth- With ‘to the Lieutenant-Governor that Harold Winch be invited to form a new government There may be ways of avoiding this drastie ste; but in any case the Social Credit party’s positi would be considerably weakened and that of CC} correspondingly strengthened! , While this may be the Liberals’ intention, it is very doubtfully so, Old scores are not settled that quickly, nor lines o; policy changed that readily, More likely they are méved by a desire to remain in public view ou tue seene of attack, even though the sing!e victory would mean little to them. The traditicral policy of contesting any- thing in sight proimbiy finds a responsive chord in many 4 party wai rior anxious to join battle again. Although the mood is understandable, it is not necessarily wise, W'\) little to gain and a great deal to lose, there seems to he nothing in the battle for the Liberals except some blood-letting, much of which may be their own . Scripture Passage for Today “Abel... being déad, yet spéaketh.’—ttep. 11:4, SPITBALLS ‘OUT’ TO WAKEN SLEEPING AUSSIE MEMBERS CANBERRA, Australia (Reutets)6pitballs must not be used to aWaken sleepirig members of parliament, the House of Répresentatives niled today. “T will not have paper balls thrown #roufid,” said House Speaker Archie Cameron after a new fluffy. Last week he chastised an opposition miember for hurling several spitballs at a snoozing government member after a book slid off the man’s relaxed chest. See It || Not Only on United States Money Canada’s Growth Rests With Its People Ast _— by ct Clmore PI ilpott Hon, Abbott Replies IN A RECENT open let- ter to the Minister of Finance I suggested using! surplus treasury funds to redeem Canadian securi- ties held in U.S.A. and asked whether we could not this keep the Cana- dian and U.S. dollars at ton, Douglas Abbott Ottawa, Oct sar Mr. Philpott I thank you for your kind- hess in senaing me tne clipping ffom a newspaper of article written by you on Government surplus and the preva @ premium on the Canadian dollar “You are quite incorrect in assuming that I am worried by the size of the surplus. You may recall that I budgeted this year for a surplus of only $9 million, which means, of course, & practical balanceé of revenue and expenditure. On I recently Ij ave stated that after review- ing the trends of our revenues and expenditures over the last five or six n I shall be very happy if by the end of the year we have achieved a balanced budget Anyone Who examines with care the statements of gevern- ment finaneés which I issue each month will, I think, un-! detstand why { make that statement Even if achie there As I replies 10, 1952 Lo an the S€ rai occasions indeed we succeed in ving some modest surplus, will be ample need for it am sure you realize, | must find the money te make very substantial loans for housing purposes, for eapita! ditures of the Canadian National Railways and many other Crown enterprises, for Veterans Land Act purposes and wt increasing our ex- change reserves. Cash require- ments such purposes are not included in budgetary ex- | penditures and money must be foufid from other sources. If the surplus is not large enough to finanee the excess Of such non-budgé@iary loans and advances over cash receipts from certain non- budgetary then the excess can only be financed by additional borrowing So there is not that large budgetary surplus available to kil} two birds with one stone,” as you suggest. This is one of the holes in your argument. I hall not attempt to discuss in r the second part roposa\, which in- berate intervention for the sources Nai, rnment 6f Canada| ~ NEW YORK. — Canada ha j advanced in a few decades fron a colony to a major industria and trading nation afd now offers the brightest opportunit, in the world for inivestmen capital, according to S. W. Pair weather, Montreal, vite-presi dent of the Canadian Nationa ' Railways Speaking to the New Yori Society of Security Analysis, M: ‘airweather outlined some the factors responsible for country’s current boom. The dominant faeto: guiding this devélopment, hy had been the vision and determination of Canada’s peo pie Make no mistake—wealth wi! be had in Canada, not fortuit ously but as the result of care ful Planning and hard work said Mr. Fairweather. “The de velopment I have deseribed spectacular as it has been. but the fulfillment of the visior of an earlier day, the fruit of skill, perseverance and toil. The future holds the proniise of greater accomplishment fulfill ing an ever-enlarging vision Canada uses more railway transpertation per capita thar any other country in the world he noted. “And we also produc that transportation at a lowe: unit cost than any other coun try in our western world. Wer it not for the cheap _transpor tation which only an efficient railway can supply, our vast northern forests, broad agricul tural plains and mining area would lie and unexploit of his Industria said useless ed,” MANUFACTURING Canada’s development was still based larg@ly on her ex tractive industries, he said, but in recent years a wide variety of industries making finished goods had been established. Be cause of Canada's of livifig and incre lation, her domesti were expanding rh standard ng popu market Many of Canada’s new de- velopmenits were being built on a largé pattern and re- quired large aggregations of capital and managément The Lynn Lake development of Sherritt-Gordon calls for the investment of $60,000,000. before one pound of nieKkel is pro duced The Kitimat development of the Aluminum Company of Canada wil ost more then’ $5000,000,000, and the oi] pipe jine to the Pacific coast 880 000,000 Se far, United States invest ments in Canada some $7% billions cm a -capita dians had an even great vessment in ihe United State ~by more than $214 billions. wr amounted ne basis 1G. Dut per Cana 'Fairweather pointed out that it was @ mistake to conclude that Canada’s industrial expansion was being financed entirely by American capital than 70 per cent of requirements were coming +» from individual! and corporate savings of Cana dians, and “in addition, Canada DIAMOND DIGGERS more her to depress artificially the JOHANNESBURG, South A value of the Cana dianirica, CM—Hundred of diamond dollar in terms of the U.S. dol- lar, This is a very ¢omplicated subject I shal} attempt to deal with On some later occasion in a more appropriate way. } Yours vety thily } D. C. ABBOTT.” + + | HANK the Minister for giving }j all such a clear, frank state- t of his financial reasoning dentally I have never been emong the critics of those -sur- | pluses, large or small. I am sa} | for finance ministers who get us | out of debt. The only other one I remember who did that well | was the old miller, the late Jim | Robb. | Most readers who have written }me about the suggestion to peg jboth country’s dollars at par | 48ree it Would be desirable. One man Who knows much about the tourist business says we will suffer heavily otherwise, But most with technical knowledge of finance doubt its feasibility Mr. John R, Horfie-Payne writes “the very fact of redééming any |more clebt would in the present | circumstances increase the pre- mium on the Cafiadian dotlar.” TIN SOURCE The export of tin from Bolivia | is divided almost eqtially betwéés | Britain and the United States. | SORE THROAT ? diggers are ct fig ¢ farm if the Trarisvaal where 200 acres Have been proclaimed an “alluvial diggings for stones.” Claims are only to Meernsed diewe draw dts for precedence precious granted whu & PRINTING IS THE GATEWAY TO NEW BUSINESS Call 234 We'll glady help you plan your printing and assist yott in evety way Dibb Printing Co. 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