During September, nearly $300 million in U.S. cash moved across the border for investment in Canada. Much of it was smart money from speculators who thought they saw a sure thing. Canada's trade was brisk, her U.S. dollar reserves mounting to a record high. The Canadian dollar was obviously worth more than its quoted price of 90ยข U.S., and revaluation seemed certain. If it should be hiked to its old par value of 100 U.S. cents, an investor would stand to reap a quick 10% profit.
Last week the Canadian government upset the dope. Finance Minister Douglas Abbott, a plugger...
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