April 27, 1926

CON

Arthur Meighen (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. MEIGHEN:

I will.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

In following my

argument, Mr. Speaker, I wish to be very brief. When one hears the statement that Canada is being flooded with foreign goods, it would seem well to consider the trade between Canada and . the various countries of the world, to see how our trade has progressed during the last ten years. In 1914 our imports from Great Britain amounted to $132,070,408; in 1924, they totalled $153,586,690. Our exports in 1914 were $222,322,292 and in 1924, $361,160,802. I do not propose to deal with all the various nations, but I do wish to consider the trade between Canada and the United States. In 1914 we imported from the LTnited States $396,302,138 worth of goods; in 1924, our imports amounted to $601,256,417. In 1914 we exported to the United States goods to the value of $176.948,299; in 1924, our exports amounted to $441,642,909. We have heard a great deal about the unfavourable trade balance with the United States. If hon. gentlemen opposite look at these figures they will see that during the last few years there has been an equalization in that trade. I have given the figures for 1924, and the figures for 1925, if given, would show' an even more favourable condition.

We have heard a great deal regarding our trade with France; hon. members opposite have criticized from time to time the trade treaty entered into by Canada and France. Let us look at trade conditions as they

2840 COMMONS

The Budget-Mr. King (Kootenay)

existed in 1914 between France and Canada, and then consider them in 1924. In 1914 our imports from France amounted to $14,276,535; in 1924 our imports totalled $15,767,851. In 1914 we exported to France goods to the value of $3,632,444, and in 1924 our exports amounted to $18,879,097. In 1914 there was a balance of a million dollars against us, but in 1924 the balance of trade was some $15,000,000 in our favour.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

Hugh Alexander Stewart

Conservative (1867-1942)

Mr. STEWART (Leeds):

Would the minister please tell us when the change took place?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

It is taking place every day. We are selling to France more than ever.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

Hugh Alexander Stewart

Conservative (1867-1942)

Mr. STEWART (Leeds):

Has the change been gradual,, or has it come within the last two or three years?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

My hon. friend

will understand that I am taking these two periods, the year before the war and some years after. I am not complicating these statistics with war periods, because I do not think that, would be fair or proper. We are now some seven or eight years away from the war, and we can make a comparison of conditions as they are now with those existing before the war.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

Hugh Alexander Stewart

Conservative (1867-1942)

Mr. STEWART (Leeds):

Would the minister give us the figures for the period just before the treaty was negotiated, and for the period immediately afterwards?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

That will be

shown later; it has been shown in this House on a number of occasions, and I am not dealing with it to-day.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

Donald Sutherland

Conservative (1867-1942)

Mr. SUTHERLAND (South Oxford):

Would the minister give us the balance of trade for the year before the treaty went into effect and for the last year, which would be a fair comparison?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

I do not think

my hon. friend could have heard me. I stated that I kept the accounting to the year before the war and to 1924, some years following the war. I do not wish to prolong the discussion; I am trying to show that during that ten year period, following a time of great stress during which this country acquired new obligations, we emerged with a favourable trade balance which was not enjoyed in 1914.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

Donald Sutherland

Conservative (1867-1942)

Mr. SUTHERLAND (South Oxford):

Might I ask the minister if it would not be more fair to give the year immediately before the treaty went into effect, and the last year?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

I do not think

that is necessary for the purposes of my argument. My hon. friend has discussed the French treaty from time to time, not always on the basis of the treaty; he has placed his own interpretation on it. These figures are chosen for the purposes of this argument, which I hope will be of some benefit to my hon. friends opposite, who from time to time during the last three or four years have made it their business to go up and down this country informing the people that our business was not improving; that conditions were not healthy, and that Canada was on the verge of bankruptcy. I hope to dispel that feeling not only in this House but throughout the country. If the figures I have, which are reliable, are known to the Canadian people, I am satisfied that all sign of despair will disappear and that the optimism with which the budget has been received will be considerably strengthened.

Japan is a country with which we have a considerable trade. In 1914 our imports from Japan amounted to $2,604,216; in 1924 they amounted to $6,298,201. Our exports in 1914 totalled $1,587,467, while in 1924 they amounted to $26,991,860. The same thing applies to China; the trade balance ha3 changed in our favour.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

William Garland McQuarrie

Conservative (1867-1942)

Mr. McQUARRIE:

Might I ask a question? What did those exports consist of?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

Many articles

made in Canada. Our Canadian manufacturers are entering the Japanese field. Wheat played a very large part in this favourable balance, but our merchants and our cattle producers in western Canada are also shipping their products into the Japanese market with marked success.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

William Garland McQuarrie

Conservative (1867-1942)

Mr. McQUARRIE:

Of that total, what

proportion is composed of manufactured

goods?

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
PRO

John Warwick King

Progressive

Mr. KING (Kootenay):

I am not an

encyclopaedia. The information requested by my hon. friend can be easily secured; if I were to speak to-morrow I would secure that information for him. We do know that during the last ten years our trade with Japan has expanded until now, instead of the unfavourable balance which existed in 1914, we have a very favourable balance as shown by the figures I have just given.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

William Garland McQuarrie

Conservative (1867-1942)

Mr. McQUARRIE:

Our exports consisted largely of raw materials.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Charles A. Stewart (Minister of Immigration and Colonization; Minister of Mines; Minister of the Interior; Superintendent-General of Indian Affairs)

Liberal

Mr. STEWART (Edmonton):

Rot.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
CON

William Garland McQuarrie

Conservative (1867-1942)

Mr. McQUARRIE:

Is that so, or is it

not?

The Budget-Mr. King (Kootenay)

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink
LIB

Charles A. Stewart (Minister of Immigration and Colonization; Minister of Mines; Minister of the Interior; Superintendent-General of Indian Affairs)

Liberal

Mr. STEWART (Edmonton):

No, of course it is not.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
Permalink

April 27, 1926