Mr. MACLEAN (Halifax) :
war the balance of trade was rather against the United States, but it was made up by her borrowings from abroad, because even in 1914 she was a heavy borrower from other countries of the world. The United States government did not borrow but the people of the United States borrowed from the people of other countries. To-day the United States is making investments abroad, placin0 heavy loans in almost every country in the world, and how can she receive payment of interest except in goods? There is no other way to receive payment of heavy amounts of interest. She must import.
Subtopic: CONTINUATION OF THE DEBATE OP THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE