_ THE EAGLE.

and

ve

ously. S::e stretched vast expanses, in

length and breadth and placed the land

On ti:e sores of three oceans, the At-

lantic to the east, the Pacific to the west

and to lite far north, the cold Arctic.

What an abundance of natural wealth

this country of ours possesses! We have

huge expanses of fertile soil, thickly
wooded forest with tall trees that reach
to the sky, many chains of mountains
whose innerds are filled with innumer-
able minerals and metals, land in whose
depth lie huge resources of oil_ and
natural gas. Mighty rivers which are
- estimated to constitute from a sixth to
a third of all the fresh water resources
in the world are within our borders. A
number of Canadian rivers are the
sources of the world’s famous salmon
runs. Other of our rivers represent the
power potential of huge hydro-electric

energy resources and transportation. .

Nature was unstinting. She gave with-

out reservation and created a basis for

. @ Garden of Eden on earth, a basis for

a land of milk and honey. Everything is
here for the welfare of man.

Because of the large assortment of
fur-bearing animals, fur and hide became
an important industry in this country.
Amongst these animals there is the
beaver, and it is the beaver that became
the symbol of this land.

However nature and history on the
American continent also supplied us with
@ neighbor, the United States, whose
symbol is the-eagle. For a number of
years, and particularly in the early days,
the beaver and the eagle lived and devel-
oped in peace on both sides of the
border. The eagle grew more quickly
than the beaver. And in the process of
growth, the eagle cast a covetous eye
across the border. It was then that the
beaver sensed the threat of danger. And
it somewhat more than a cen-
tury ago that the eagle suddenly descend-
ed across the border to make its nest
in the land of the beaver. But the beaver
resisted, gathered all its forces together
and with one voice cried out “We shall
be neither hewers of wood nor drawers
of water for anyone.”

In the face of this resistence, the eagle
was left with no course but to return,
somewhat the worse for wear, and with
feathers missing, within its own borders.

The years rolled by and throughout
the world, as well as on the American
continent, important changes were oc-
curring. The former young eagle from
the other side of the border had grown
into a mighty Wall Street-Washington
carrion bird. Repulsed in its attempt to

move north into the land of the beaver,
the Wall Street eagle turned its gaze in
a southerly direction, in the direction of
Latin-America, and then swallowed New
Mexico, Texas, California, and still un-
appeased, moved on to grab Cuba, Pana-
ma, the Dominican Republic, the Phil-
‘lipines. And it did make all of South
America a reserve for its plunder.

«a

L

Nature endowed Canada most gener-

When then of the eagle’s attitude to-
wards the beaver? Had the urge to covet
been abandoned? No, the urge was still
there, but the tactic was different. In-
stead of an open military attack, the
eagle undertook to show “friendship” to
the beaver, to be its good neighbor. And

the myth grew that the eagle and the

beaver could live side by side and devel-
op in peace. Moreover, the eagle declar-
ed that in times of stress it would even
undertake to defend the beaver. And in
the land of the beaver the word was
spread that the little lamb could live with
the lion.

It was this tactic that lulled and even
won over some of the beavers. For in-
deed, the beaver itself was growing up
and some of them became known as the

_ Bay Street beavers and St. James Street
’ beavers. It was! precisely these beavers

who opened the border for the Wash-
ington-Wall Street eagle and made it
possible for him to fly over the whole
land and from time to time swallow a
huge and tasty morsel of the beaver
called Canada. The appetite of the eagle
grew and with the help of Bay Street and

St. James Street, the already-fat edgle

turned Canada into his economic re-

serve. This he was able to do through

capital investment, through outright
ownership of Canadian firms and by
digging his beak into the natural re-
sources of the land of the beaver. This,
then, was how it started and the process

THE BEAVER

on Canada’s 100th birthday

4

trated in the main in the most impor-

tant sectors of the national economy.
The stock equity of American companies
amounts to 23.8 billion dollars in firms
which are valued at 32 billion dollars.
This means that Americans have a 75
percent control] in this area. The econo-
mists point out that decisive influence
and control can be exercised even if
stock ownership amounts to less than 50
percent. One example of this is the Bell
Telephone Company. Despite the fact

that stocks are said to be mainly in the.

hands of Canadians, the Bell Telephone
Co. is absolutely controlled by the Ame-
rican Telephone and Telegraph Company
trust

This control over the most important
sectors of the Canadian national econo-
my gives them, it would appear, the say-
s0 in deciding the destiny of Canadian
economic development. This means that
the United States determines the direc-
tion of industrial growth, the export and
import, the financial and economic poli-
cies of Canada. In a word, all of the
chief elements which influence both the
form and general policy of Canada lie
in the hands of Wall Street and Wash-
ington.

That these were indeed the goals and
the results of the investment from the
United States were substantiated by-Mr.

_ Fowler, Secretary of the American

Council of the International Chamber of

_ Commerce. In a speech delivered to the

The pressing question after 100 years of toil
is: who shall own the resources of our land?

is going on at an accelerated pace. Let’s -

see just how it work.

In the 1963 figures provided by the
Dominion Bureau of Statistics, we find
the following: Foreign control of manu-
facturing and industry in Canada Las
now reached the sum of 18.3 billion dol-
lars. Included in this list are such things
as manufacturing, petroleum, natural gas,
mining, smelting, railroads, construction
industry, merchandising, utilities, as well
as other areas of national wealth, of a

lesser kind.

In the petroleum industry, the United
States control more than 64 percent, in
mining the figure is 63 percent, in manu-
facturing 46 percent. In detailing the
above figures, the Financial Post of Can-
ada goes on to say that since 1963, some
80 large Canadian firms were bought and
came under control of American capi-
talists.

Leading Canadian economists point
out that capital investment in Canada
by the U.S. now has reached a figure
ef over 25 billion dollars. They go on
to point out that this money is concca-

re an

captains of American corporations, Mr.
Fowler said:

“Investments are mighty motors of
American capitalism. For the United
States, these motors have not only a
commercial import, but they are also an
important factor in the foreign policy
of the United States.” (Mr. Fowler is
also the Secretary-Treasurer in President
L. B. Johnson’s Cabinet).

Mr. Fowler’s open declaration about
the role of capital investment is particu-
larly meaningful for Canada. Perhaps
even more so than for other countries,
inasmuch as there is a constantly rising
proportion of American investment in

- our country.

That which the young USA was un-
able to achieve in 1867 was achieved by
the Wall Street - Washington eagle
through economic aggression 100 years
later.

President Johnson’s latest proclama-
tion regarding guidelines are in fact pol-
icy instructions for all) American com-
Ffan‘es which operate in Canada. These

' guidelines touch on such issues as

_ amassed capital. It deals also W

and when capital investment sho!
made. It deals with the reinvestmen|

buying of necessary products a
terials and it indicates and deal
the question of export. These guidel
are meant to apply to all firms and q
panies in which American capi
invested 10 percent or more.
When one takes into account ©
widespread American capital inv
ments and control over the most
portant sectors of our national econd
then it becomes obvious that U®
guidelines for the United States in
become guidelines dictated from Wet;
‘ington for Canada and Canadians. ¥
open “dictat” from Washington, on
of the simmering unhappiness on}
part of many Canadians about the
ing penetration of American capital
domination in our country, spurred |
lic discussion. 7S
If the truth be told, then, most
points indicated in the Was
guidelines had already been p
operation in Canada some tim
A number of examples will pro
point. Several years ago, the Pi
Republic of China proposed and matt
bid to buy Canadian automobiles, t
and tractors. Such an arrangement MS
was made only because the Amer
controlled auto industry in Canada}
“no” it was against Washington pir
to deal with the People’s Republi(:
China. Our trade with other socit
countries. likewise suffers because 0)
control of Americans over Canadia
dustry. One of the examples is t
seen in the refusal of the Quaker
and Pillsbury Companies to mill
for Cuba. This despite the fact that ©
bought the wheat here. The impudi
of American firms in Canada ané
open dictatorial fashion in which V
ington interferes with Canadian
and export tax the national patien\
Canadians to the very limit.

The beavers of St. James St. andy
St. who are the friends and partnel
the USA magnets, have for years ,
along with the Washington eagle’s)
of beak and talon attack on Ca
They have acquiesced to the
latest “guidelines” even though i
called forth the greatest protest thr
out our land. a