Word: ilsley
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...Canada on her own two feet. Last week Finance Minister James Lorimer Ilsley told the House of Commons that only 3.23% of Canada's ten billion dollar national debt is now owed to foreigners, chiefly Americans...
Among the gentlemen present were Chiang Kai-shek's Finance Minister Dr. H. H. ("Daddy") Rung, Canada's Ilsley, Mexico's Suarez, Netherlands' Beyen, Russia's Stepanov, Iran's Ebtehaj. No one knew last week how they would line up; most of the preliminary skirmishing between the British and the Americans in the Battle of the Blueprints has taken place under cover. The first open blow was struck last spring by John Maynard Keynes, First Baron Tilton, with a proposal that in effect would give the British dominance in world currency arrangements. The second...
Last week the Canadian Government declared its financial independence of the U.S. After a visit to Washington, Finance Minister James Lorimer Ilsley announced the end of financial arrangements under the famed "Hyde Park Declaration...
...dollars flooded into Canada for the Alcan Highway, airports, the Canol pipeline, huge purchases of grain, aluminum, etc. By early this year, Canada actually had so big a surplus of U.S. dollars that it had become embarrassing to the U.S. Administration. Canada also had her pride. Said Mr. Ilsley in the House of Commons last week: "We always felt that, as a nation , . . free from the ravages of war we were in duty bound to stand on our own feet and indeed to share with the U.S. in assisting other less fortunate of our Allies...
Canadians at once began to indulge in some high-blown wishful thinking. In the Ilsley statement they saw an indication that meat rationing's end was near...