142 



Cauadidii J'orcsfrx Joitnial, March, tq20 



Tying Down Exchange Rates With Paper Cargoes 



From an Address by J. A. Bothwell, before Canadian Pulp and Paper Association 



"I have just been .sliown adwince 

 returns from the census of the Can- 

 acHan ])ulp and paper industry, taken 

 by the Government, covering the year 

 1918, shortly to be published. In that 

 year, our industry represented a ca])i- 

 tal investment of $241,708,223. Our 

 products for the year reached a \alue 

 of $119,309,434; the number of per- 

 sons employed, exclusive of woods- 

 men, was 25,863, and the amount paid 

 out in wages and salaries, $26,974,226. 

 Our exports of pulp and paper during 

 the current fiscal year will approxi- 

 mate $100,000,000 in value. More than 

 75 per cent, of these exports are mar- 

 keted in the United States. We are 

 contributing upwards of $333,000 a 

 day for every working day in the year 

 to Canada's foreign exchange and 

 heli)ing, to that extent, to overcome 

 our adverse trade balance with the 

 United States." 



<•••••••••••■•••• 



B. M. McGRATH 



Colonial and Industrial Investments 



Timber, Pulp Wood Areas and 



Waterpowers 



Newfoundland and Labrador 

 Mines and Minerals 



Reports, Plans and Estimates Furnished 



TRADE REVIEW BUILDING 

 ST. JOHN'S, NEWFOUNDLAND 



••••••••••••• 



••••••••••••••»•< 



THE UNIVERSITY OF TORONTO 



AND 



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WITH WHICH ARE AFFILIATED 



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For information apply to the Registrar of the University, or to the Secre- 

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