CANADA: Hard Realities

One good fortune Canada has long shared with the U. S.: the world's highest standard of living. Since September 1939 Canadians have watched the necessities of war nibble away at that standard — first by requiring them to turn in their holdings of foreign exchange, then by a 10% tax on imports, by forbidding the use of funds for travel in the U. S., by imposing stiffer and stiffer taxes on goods and incomes. Last week the standard toppled.

Blond, begoggled James Lorimer Ilsley, Canadian Finance Minister, brought in his so-called "baby budget." which the House of Commons promptly passed....

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