Word: trades
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Dates: during 1950-1959
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...everyone grows up. Last April when Britain's prime Minister Harold Macmillan decided to call a conference of his fellow P.M.s throughout the Commonwealth, there seemed to be plenty for the family to talk about. Mother Britain's new defense cutbacks, its flirtation with the European Free Trade Area, and the economic and political aftermaths of the Suez incident (which threatened to break up the Commonwealth) were all family matters requiring friendly discussion. But when the time came to discuss them in London, half of the family were either too busy at home or feeling too unfriendly...
...With Diefenbaker at the swearing-in ceremony were his chief lieutenants, who will take over the new administration. The Prime Minister, who was his party's foreign-affairs expert in opposition, named himself to succeed External Affairs Minister Lester B. Pearson. To succeed the Liberals' U.S.-born Trade Minister Clarence Decatur Howe, 71, who became the most powerful man in the Canadian economy and, next to Pearson, the Liberal Minister best known abroad, the Prime Minister picked a Winnipeg lawyer, Gordon Minto Churchill, 58. To be Secretary of State (a grab-bag ministry that deals with such matters...
While Tory John Diefenbaker shouted "Buccaneers!" and Trade Minister C. D. Howe roared "Who's going to stop us?", Canada's Liberals a year ago bulled legislation through Parliament for a pipeline to carry natural gas across the country from the Alberta fields. Though Trans-Canada Pipe Lines Ltd. was a private enterprise, the Liberal government generously agreed to build the Northern Ontario section of the line, which the promoters gloomily called "uneconomic," and even lent Trans-Canada $50 million when it claimed to be hard up. Only last week did the full measure of the big deal...
...tourist trade hit a severe slump...
Colombia, one of the most dogged advocates of government economic meddling, last week abruptly freed its long-pegged peso. Officially traded at 2½ to the dollar before the freeing, the peso promptly dropped to 6¼. Result expected: encouragement for the producers of dollar-earning exports (chiefly coffee), discouragement of dollar-draining imports, reduction of a towering trade debt estimated at $200 million...