Canada at War: Net Profit

Last week the Canadian Government declared its financial independence of the U.S. After a visit to Washington, Finance Minister James Lorimer Ilsley announced the end of financial arrangements under the famed "Hyde Park Declaration."

By that agreement, President Roosevelt in 1941 gave Canada's war industry a shot in the arm. He and his old friend & fellow Harvardman, Prime Minister William Lyon Mackenzie King, initially arranged for the U.S. to buy $200 to $300 million-worth of war supplies in Canada. Prime purpose: to provide Canada with sorely needed U.S. dollars. It was a pre-Pearl Harbor device to help Britain and...

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