Like a nervous housewife, Canada has tensely watched the brawl over OPA among her Good Neighbors to the south. Last week Canada hastily decided to bar the door against the inflation she felt was coming, now that OPA was dead.
Finance Minister James Lorimer Ilsley announced that Canada had lifted the Canadian dollar to par with the U.S. dollar for the first time in seven years (it has been pegged at 10% less). He also unveiled a well-pondered plan to cushion Canada against U.S. price rises.
Under the plan:
¶ Price control will be rigidly maintained on a long list of...