The slow-starting campaign toward Canada's national election on June 18 seemed an election in search of an issuean easy-to-grasp, dollars-and-cents sort of issue. Last week Prime Minister John Diefenbaker's Tory government suddenly and perhaps unwillinglyprovided one.
After vainly trying to stem a run on the sagging Canadian dollar, the government decided to peg the Canadian dollar's exchange rate at a low 92½¢ to the U.S. dollar. (In Canada, the U.S. dollar will be worth $1.08.)
Alone among the 75 members of the International Monetary Fund. Canada had let its exchange rate bob free ever since 1950. But the IMF, and...
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