The By S. SARKIN A great danger threatens Can- ada—the danger of being Completely gobbled up by the United States. Although we have been witness to the gobbling up Process for a number of years, the industrial and financial in- terests of the United States have accelerated the process in recent times and are virtually racing towards complete domination and integration of our country. The American capitalists are Using two forms in order to speed Up the process, The first involves a greater build-up of investments M existing and new branches of Canadian industry and the sec- Ond is the outright buying up of flourishing Canadian firms. In these devilish plans the Americans are being aided and abetted by ‘their Canadian part- hers. Devaluation of the Cana- dian dollar, the financial imbal- ance of Canadian trade and the developments which stem from the negotiations around Britain’s -€ntry into the European Common Market are recent examples of this process. The following illus- trations serve to demonstrate the the above. * * * validity of Delhi Taylor Oil Corporation, the oil giant of Texas, recently purchased two Canadian oil com- Panies. These were the Tidal Petroleum Corporation of Ed- Monton and the Canadian Chief- tain Petroleum Ltd. The first Mentioned, Tidal Oil, operates 14 gas and 56 oil wells, as well as 15 combined gas and oil wells. This firm also has the rights on 700,000 acres of land in both Al- berta and B.C. The interests of Canadian Chieftain are spread Over 24 producing gas wells, 12 Oil wells and 15 combined wells. In addition, they control Cana- oe dian Kodiak Refineries. On Nov. 16, 1962, Shell Invest- * ment Ltd: announced that it had ‘dought 91% of the shares of Canadian Oil Co. Shell. gave the remaining shareholders up to Nov. 23rd to accept an offer for their holdings. 5 In the early part of the same month, the New York firm of Black and Closon bought the Van- couver firm of Canadian. Som- mers Iron Works. This firm pro- duces an array of machines used in sawmills in B.C. * * * It should be borne in mind that in addition to buying up existing established firms, the Americans also acquired potential producing oil and gas resources as well as the potential overseas markets for sawmill machinery being pro- duced by. the Sommers Iron Works, This is the way in which Americans are buying the wealth of the country. ; We now turn to examples illus- trating the setting up of new American controlled firms, On Nov. 16, 1962, seven U.S. com- panies including the Hanna Co. and National Steel Corporation announced the establishment of a plant which would turn the iron ore of Labrador into iron pellets. For this purpose they were as- signing $70 million. The Com- merce Dept. of the United States reported that a number of firms ‘plan to spend over a billion dol- lars in order to enlarge and im- prove their plants in Canada.” $39 million of this sum will be spent in manufacturing, $345 mil- lion in petroleum, $200 miilion in mining and smelting, and $166 million in. sundry industrial branches. a * * The Financial Post of Aug. 14th writes as follows about the sell- out: ‘‘In 51 cases cited in FP last . week, foreigners put up $715 mil- lion to purchase, and gain control of, the book value assets of over twice that amount.’’ This article is. written under the heading “Outsiders Buying Canada — And at Cut-Rate Prices’’ and goes on to say: ‘“‘Should Canada continue to stand by doing nothing about the continued and enormous sell- out of Canadian companies to foreigners?” There are those who argue that we should ‘“‘let-em-go’’ and the Finnancial Post reveals its reasoning thus: ‘‘Canada needs help on her balance of payments. Foreign companies have great and helpful resources of capital and managerial skill.” Furthermore, ‘‘To do anything about foreign economic penetra- tion is widely regarded as a bad thing. Most of the Latin Ameri- can countries have long ago tried varying schemes,’”’ and, it would seem, without success. But something bothers the Fi- nancial Post for it goes on to ask, ‘‘Are we ready to sell out everything that anybody wants to buy? Where’s the start and stop on this? Have we already passed the point of no return? Do we stop trying to be an independant nation?” : Important “questions! But the Post offers no solutions. Although the editors are well aware of the people who are re- sponsible for the sell-out, they fail to expose them. They fail to in- form Canadians about the partici- pants in the conspiracy. Certainly no one can point an accusing finger at the working people of this country. They are neither consulted nor asked. The national betrayal is being car- ried on over their heads and with- out their knowledge. Despite the cries of monopolists about the ‘‘disloyalty”’ attributed to communists, socialists and the labor movement in general, no Press stories about African : students in Bulgari he demonstration by African students in Sophia, Bulgaria, last: Feb. 12, was led by. Tata Tawia, a student who, it was re- vealed by the Bulgarian mission to the United Nations, had never attended classes during his 18- Month residence in Bulgaria. The incident, widely circulated by Western news agencies as an example of racial discrimination, _ Was condemned by the Bulgarian U.N. mission as ‘widely exagger- ated and grossly distorted for Political purposes in the classic - Cold-war tradition.”’ In a statement to the press, the’ Bulgarian mission said Tata Tawia, originally) from Ghana, had come to Bulgaria to study _ Philosophy after obtaining a law degree in England. The Bulgarian » §0vernment gave him a grant to Study, as it has to hundreds of * Other foreign students. It was withdrawn when Tawia “Showed no signs of studying and € was asked to leave the coun- try, VIOLATES LAWS Thstead of studying philosophy, ‘awia was attempting to estab- lish a “Pan-African Student Union”. This was in violation of the laws of Bulgaria which pro- ibit political organizations — by foreign nationals temporarily in the country. Besides, the African students already belong to their own cul- “tral organizations. Tawia launch- ed his enterprise without con- sulting most of the African stu- dents and without asking per- mission of government authori- ties. : Of the 370 African students in Bulgaria, only about 50. indicated any interest in joining. 225 were reportedly opposed to it, and the other 95 were indifferent, the Bulgarian mission said. When the organizers of the Pan African Student Union were told their activity was. illegal, they organized a demonstration. Some Picture shows foreign ‘stu: dents in Moscow. Like their counterparts in Bulgaria, foreign students in viet Union refuted @ cam- paign of slander about their lives in socialist colleges. The in press stories originated agencies in Britain, the U.S. and West Germany. . the So- © homes just a refuted 40 students demonstrated on one of the main streets without hav- ing notified authorities as pro- vided by Bulgarian law. The militia asked them to dis- perse. Some demonstrators re- sisted and were arrested, ‘but were released the same day. Seven students, the instigators of the incident, were ordered tc leave the country. Another 20 or so asked to leave also and were granted exit visas. Most were Ghanian students. APOLOGIZE ‘A week later, ‘a group of those : ‘who had asked to leave apolo- gized for their action and asked permission to .remain and con- tinue their studies. ~ : “The vast majority of African students were never associated with Tata Tawia’s activities, or the incident of Feb. 12; never - showed the slightest desire to- leave Sofia, and have quietly car- ried on with their studies,” the mission statement said. — ~ African students in Bulgaria all. receive stipends from the gov- ernment. These are generally ‘more than twice as high as those received by Bulgarian students. “They all live in dormitories in the modern Student City on the outskirts of Sofia, where the rent is minimal. Student meals are cheap. The African students have the right to use student rest as the Bugarian students do. “HOW U.S. TRUSTS ARE TAKING OVER CANADA— great conspiracy! U.S. trusts are pouring money into the take-over of Can- ada. This is being done in two ways, says the author of this article, S. SARKIN. First by building up invest- ments in existing new branches of industry, and second, by buying outright flourishing Canadian firms. . there. are one can point to these as having sold or made a single penny out of the sale of Canada’s wealth. Nor can the accusing finger be turned towards middle class and small business people in this con- nection. As a matter -of fact, sections of Canadian capital who cannot be counted as members in the conspiracy of be- trayal which has been going on for a number of years. * * * In a speech delivered at the Board of Trade in Vancouver, E. K. Brownridge of American Mo- tors of Canada Ltd. stated that “foreign companies should not be allowed to control completely Canadian subsidiaries. There are few countries today that allow foreign firms to have 100% owner- ship. Why should Canada allow it?? Dealing with the argument that Canada is in need of investment dollars, Mr. Brownridge pointed out that Canada is “sitting on a nest egg of $8 billion in banks across this country.”’ The Canadian partners of Amer- - jean big business are to be found among our own Canadian monop- olists and magnates who share . mutual interests with their richer brothers in the U.S. and who~ themselves have invested more than $2 billion in the United States. According to the American Commerce Dept., Canadian in- vestments in the U.S.A. rose by over $1 billion between the years 1950-1961. In the course of the last 12 years Canadian invest- ments in American industry sur- passed all other foreign’ invest- ment with the exception of Bri- tain. : This applies to life insurance, food, cotton, railways, banks and certain coal mines. Out of 62 firms in the U.S. in which Cana- dians have full control, more than ‘half have been acquired since 1941. . It is obvious that the ‘“‘monied patriots” of Canada would rather invest in foreign countries rather than at home and the decisive ‘factor is always the one word— profit. * * * The Vancouver Sun of Oct. 15, 1962, . gives a good example: The Power Corp. of Canada (former parent company of the B.C. Elec- tric which was taken over by the B.C. provincial | government) which had accepted $19 million for shares in Shell Oil in addition to the over $100 million received for the B.C. Electric, has decided 2384 to~invest this capital abroad. The President of the Power Corp., P. N. Thompson, assured the shareholders that “there is little doubt that the reinvestment of these new funds should in- crease our income sufficiently to allow an early increase in com- _mon share dividends.” The attitude and the policies of big business towards such prob- lems as foreign investment, na- tional interests, patriotism and the welfare of Canada is exem- plified in a bulletin of a large in- vestment firm—R. A. Daly & Co., as reported in a financial supple- ment of the Toronto Globe and Mail. ‘Tt is doubtful,’ the bulletin says, ‘‘that any Canadian draws much patriotic nourishment from the sight of a well-managed Canadian firm drifting into for- eign hands. There is considerable difference between healthy pa- triotism and fanatical national- ism.” * * 7 The Daly bulletin informs us that neither passivity nor resent- ment are justified reactions. It points out that “the future of Canadian business must be decid- ed by logic, not by emotionalism. ‘In every takeover bid, there is one essential point to be settled will the owners sell? Here, logic seems to prevail over both pa- triotism and nationalism, each of which has its price.’’ About the issue of foreign management, one finds the follow- ing in the Globe and Mail: “The big boss more and more is hav- ing to surround himself with pro- fessional experts and with elec- tronic brains, which circumscribe the area of whimsical decision. If that is the case, as time goes on it will matter less and less if the president of a Canadian sub- sidiary is imported.” Here then are the partners of American big business. This rep- resents their line of reasoning and their activity. They play their part in the great conspiracy of betrayal and sellout so that Canada should be completely dominated and controlled by the U.S.A. Iran Reform Over 80 percent of the pop- ulation of Iran has voted in favor of land reform, the ‘na- tionalization of privately-own- ed forests and other democra- tic measures. The shah volun- tarily turned over to the state all his forests and 500 of his estates. : "March 15; 1963—PACIFIO'TRIBUNE—-Page:7 | - + .