Canada: EXTERNAL AFFAIRS: The Half-Billion Touch

Canada cast up its accounts for half a year's trade with the U.S. and the figures were shocking. June shipments of $175 million had boosted the half-year import total to $981 million. Against this, Canada had sold only $482 million worth of goods to the U.S. The staggering adverse balance of almost half a billion in U.S. dollars made a big dent in the Dominion's war-hoarded reserves, even though hard-pressed Britain helped out by paying Canada in U.S. dollars for $220 million worth of food. The Bank of Canada's Graham Towers, who knows, was not telling how many U.S....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!