Canadians might be short of U.S. dollars (TIME, Aug. 25), but they had plenty of their own. They were making and spending money so fast that sales-tax revenues at July's end were $24 million ahead of last year. Income-tax payments, despite a 29% cut in rates (effective July 1), were expected to add up, by fiscal year's end, to a whopping $100 million over estimates. Up to mid-August, customs duties, ballooned by the tremendous surge of imports from the U.S., were $44 million greater than in mid-August 1946.
In all its history the Dominion Treasury had never known anything...
To continue reading:
or
Log-In
