bargo recommended by the Commission, which 

 would appear to be merely the matter of the 

 necessary legislation. 



The prime argument in combating the em- 

 bargo has been the presence of Canadian cattle 

 sent to England for this purpose by governments 

 and farmers' organizations, the altogether splen- 

 did qualities of the fine specimens putting forth 

 the strongest claim to unrestricted entry as 

 against the necessity of slaughter within ten days 

 of landing.' And this has occurred at a time when , 

 with little hope of the removal of the embargo, 

 and the closing of the United States market, 

 Canadian livestock organizations from all parts 

 of the Dominion were thoroughly investigating 

 conditions in England with regard to meat mar- 

 kets, considering the shipment of beef in a frozen 

 or chilled state, even making experimental ship- 

 ments of this nature. 



The Removal of the Embargo 



The removal of the embargo which permits 

 the entry of Canadian cattle in all conditions 

 will open a much larger market to Canadian 

 livestock men, achieving an object for which they 

 have striven for many years. The stimulus 

 given to the Canadian overseas cattle export 

 trade in the anticipation of the removal of the 

 embargo is featured in Montreal's last shipping 

 season, where figures have shown a considerable 

 increase following the years of stagnation which 

 came in the wake of the lifting of the United 

 States embargo in 1897, leaving an unrestricted 

 market in that country. During the four months 

 ending September 1st, fifteen thousand head of 

 cattle were shipped from Montreal to Liverpool 

 and Glasgow, and a further three thousand in 

 the first two weeks of September, with thousands 

 yet en route to the St. Lawrence and Atlantic 

 ports. Ten years ago the total shipment of 

 cattle from Montreal in the same period was 

 32,000 head, about twice the figures of the pres- 

 ent season, whilst the true magnitude of the 

 possibilities of the Canadian export livestock 

 trade may be realized from the figures of ten 

 years farther back when 112,611 cattle were 

 shipped in the same period in 1904 and 118,296 

 in 1905. The 1904 figures also show 48,000 sheep. 



In the era of the giant ranches the export 

 trade in cattle overseas was one of Canada's 

 basic industries. The opening of the United 

 States market diverted this trade to other chan- 

 nels. To-day, though the big ranches with their 

 enormous herds have in the main disappeared 

 and are largely parcelled out into farms, these 

 more intensive acreages are raising more cattle 

 than the area supported formerly. Whereas in 

 1901 there were five and a half million cattle in 

 the country, and seven millions in 1907, there 

 were in 1920 nearly nine and a half millions. 



In general, the situation as it will stand with 

 the removal of the British embargo is much the 

 same as that which existed before the lifting of the 



United States tariff on livestock in 1897, with 

 the added advantage to Canada that she is not 

 restricted to the export of cattle to be fit for 

 slaughter ten days after entry. The market 

 will now have no restrictions. 



Advantages of a Canadian Branch Factory 



Probably no country involved in the maelstrom of 

 the Great War made such rapid rehabilitation and ex- 

 tricated herself so speedily from the entanglements of 

 the aftermath as the Dominion of Can.'i.a. Though suf- 

 fering from many disabilities traceable directly to the 

 economic upheaval of the period of hostili.ieF, she attacked 

 them concertedly and with united effort. The more 

 serious have been overcome, time alone will solve others, 

 and meanwhile the Dominion faces a future of un- 

 paralleled promise. 



Canada was not satisfied to achieve readjustment to 

 the position she had occupied when the German menace 

 called upon her to enlist her resources and manhood in 

 the cause of humanity. Her world efforts gave her a 

 new birth, occasioned wider and greater ambitions. Her 

 new national status was recognized at the Peace Con- 

 ference, and the realization of this new dignity instilled 

 in her greater desire and endeavor and instigated her to 

 surpass that very creditable record of progress she had 

 iv.ade before the war. This spirit was very noticeable 

 in the manner in which the Dominion went out in pur- 

 suit of trade, not only in an attempt to regain that which 

 had to a great extent been lost through the war but, in 

 a new spirit of confidence, penetrating new and hither- 

 to untouched fields. Canada is now, in a degree pre- 

 viously unreached, a serious trading nation, and this it is 

 to the advantage of manufacturers the world over to 

 realize at once. 



A clear response to this new trade importance has 

 come from the United States. A most pronounced and 

 significant development of the post-war era in Canada 

 has been the invasion of the Dominion by United States 

 capital. This has taken many forms, but it is proposed 

 to confine attention here to industrial capital and the 

 interest exhibited by manufacturers across the line. A 

 variety of reasons might be proffered as having occasioned 

 this, and the probability is lhat a thorough analysis would 

 disclose that the new industrial interest has been brought 

 about by a combination of the several. Certain it is 

 that United States interest in investing industrial capital 

 has never been greater, the most noticeable feature being 

 the large increase in the establishment of branch fac- 

 tories and plants of parent houses across the line. 



American Capital takes place of British 



Previous to the war the money which oiled the ma- 

 chinery of the Dominion and was in a large measure re- 

 sponsible for industrial development was overwhelmingly 

 British. This, of course, practically came to a standstill 

 wilh the outbreak of the war, and post-war conditions of 

 various natures all militated against the British investor 

 sending his money to Canada. Funds were needed at 

 home, with a purchasing power very much diminished, 

 and British currency was at a very high discount in 

 Canada which was sufficient discouragement in iiseli 

 against sending money overseas for investment. With 

 only slight alleviation the situation remains very much 

 the same to-day. Though some British capital is finding 

 its way to the financing of Canadian industry the general 

 trend of economic affairs is too stressful to expect for 

 some time anything like the volume of the pre-war period. 



The precise situation which has worked against 

 British capital has favored that of the United States. 

 American money has been, and is, at a considerable 

 premium in C'anada, which is a sufficient inducement for 

 anyone contemplating investment in the Northern field 

 to act quickly. As far as United States manufacturers 

 are concerned there is a further one in the Made in Can- 

 ada campaign, which is an enthusiastic economic move- 



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