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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 13, 1972, Lethbridge, Alberta 'Yankee, back up a bit' stand The following story was written by a veteran Asso- ciated Press reporter who came to Canada, In advance of President Nixon's visit ilils wcrk, to study Issues that divide tlie two coun- tries. Dy WILLIAM L. JIYAN AP Special Correspondent OTTAWA (AP) A lot of pri- vate U.S. money rides on the economy of Canada. That fact of Canadian lite will cast a shadow over President Nixon's summit meeting this week with Pierre Klliolt Tru- deau. much of Canada do Ca- n a d i a n s own? Not nearly enough, many of them say. A large and growing body of Canadian opinion holds that far tog much of the economy is owned and controlled by non- residents, mostly U.S. investors. The question is churning up Canada's political waters at 3 time when Trudeau, like his vis- WOOLCO GALAXY OF GARDEN VALUES Everything you'll be needing now at down-to-earth prices A Woolco Charge Means Convenient Shopping Peaf Moss Gardening Gloves Garden Tools For mulching gordeni or lop Quality tools wilh wooden dressing towns. Helps moil- ha, ti g.eol selection Your o( fan luro retention and odds or- of men i ond women stylos, roke> spode_ gonic mailer to soil. 4 cubic cultivator or dandelion weed- Deluxe Rotary Fertilizer Spreader Adjust dials to Bpread To one side only, or in a 4' to 8' pattern from 4 lo 40 poundi of fertilizer. Easy 10 QC monouvre. EACH CO.OO Sturdy Economy Priced Spreader Spreads 16" wide with hop- per copacily oF 25-30 Ibs. All lubular handle and stand, easy flow Tur- paint Q Q7 finish. EACH W.W I Popular Low-Priced Wheelbarrow Ideal for the overage home- owner. Drawn steel tray holds 3 cu. fr. 10" lire with oilire bearings, I" tubular slcel handles. Eajily 4 ft Q7 Oiiembled. EACH IU.OI Giant Roses in Many Colours Finest qualify slock, all ready lo Your choice of famous varieties. EACH .97 Gladiolus Bulbs Box of 40 mixed bulbs in solid colours. it BOX I Deluxo Gas-Powered Rfding Mower Thii beauly changes grass-culling from a chore lo a pleasure! Feolurci 5 h.p, Driggs and Slraitan engine with fecoil slart, 24" blade, handy conlrol for 3" blade height od- juslmen I, forward-ncu- Iral reverse Ironsmis- sion, padded seal, 13" rear pnematic tires, }0" fronl scmf pneumatic tires. Ffnished In Rod Enamel, EACH 288.97 Electric Inwn Mower by Black and Decker Clean quiet operalionl Twin blades cut 18" palh. h.p. electric mofor, manual heighl adjuslmcnl, completely assembled wilh (old down handle. 50' elec- Iric exleniion cord at no extra charge with your mower purchase. fACH 79.95 "Red Turbo" Gcis Mower 19" full cuf. fully baf- fled for grnss discharge. 3 H.P. Briggi iustry and resources. Foreign ownersliip is an im- jortaut issue in the election Trudeau musl call by mid-1971 ibout 01 per cent of foreign is U.S. ownership. Statistics lell only part of Uie lory. The impacl of U.S. own- rship on the Canadian person- ality is important. It feeds a onging for economic indepcnd- nee that blends with fear of cultural domination from the weight of the U.S. eco- nomic pressure. This is rot a question of 'Yankee go There is lit- Ic anil-Americanism hero as :uch. It is more a question ot 'Yankee, back up a bit." This vas once expressed in a recom- mendation by a House of Com- mons committee that all for- eign-owned companies should work toward 51 per cent Cana- dian ownership. Direct U.S. is, invcslment achieving control of enterprises a book value of billion as of 567, Ihe latest figure available. About 45 per cenl of Canadian manufacturing is controlled in Ihe United States. U.S. interests control 76 per cent of Iransport- equipnient manufacture, 08 per cent of mineral-fuels mining, 66 XT cenl of machinery manufac- .ure and 57 per cent of metals mining. Washington eyes Canadian complaints warily. U.S. policy seeks freedom for U.S. money to invcsl in foreign induslry. As of now, U.S. policy also pushes to reverse a Canadian Irade Thundoy, April !3, 197J THE IITHBRIDGI HtKAlO 13 TRUDEAU magic fade surplus, a relatively new phe- nomenon. Canadians insist th surplus should be seen against background of deficits with th United Stales running mor than billion annually just be fore 1068. NEED CAPITAf, If Canada is to be developed according to hopes and plans for Hie nexl decade, new capilal will he needed. At Hie same time, Canada worries aboul the ever-increasing rate of capilal inflow from abroad, most of it from the next-door neighbor. But where else will Ihe money come from? The question can touch off po- litical pyrotechnics. Canadians are awaiting a gov- ernment statement of policy to be based on a report drawn up under Ihe direction ot Herb Gray, federal minister of na lional revenue. Gray's report on "domestic control of [he national economic made public late last year, complained Hint one effect of the high level of direct foreign investment was that im porlant decisions affecting a big pavt of Canadian business "are either taken by senior busincs. executives resident outside. Can- ada or within the cenlral frame- work established by those resi- dents outside Canada." Pressure on Trudeau is strong lo lay his government's cards on Ihe table. Ifis governmcn promises the policy statement but some suspect that this can mean after the election. The hot-polMo element was suggested recently when a group of U.S. business cxcn live.s planned lo come hore fnr Tnidenu briefing fin cconnrni Thr Amr-ricnns looked on the session as an opportunity lo make suggestions' on invest- ment policy. Briefings of Ihe sort had held for U.S. busi- nessmen in other countries. Bui in Canr.da the polilical op- position demanded that any such session lie open to press and public. The government ab- ruplly decided to cancel the whulc thing. SWING INT rv Oolly 9 a.m. lo d p.m. Thursday nnd Fridoy V a.m. fo p m. >fJ W K- CASUAL T-SHIRT AND JUNIOR JEAN STYLE PANTS (A) This beautiful ihort sleeve T- ihirt Is an asset to your tpring; wardrobe, ll'i eyefel trimmed wilh ihoB loco front. Mandarin neeV Tn polyester and rayon blend wifh 2 breast pockels. Blue, Mauve or Red Denim in QA S.M.I. FACH (B) Jean style [unior in buggy fabric. These sanded col Ion pants are ideaf for sportswear. Low riie waist, loop belt trim, zip- per fly front ond 2 front palch pocVels moke 1hcie pan'i a great buy. This flare Teg ilyln li offered in Blue, Lwlher or Black. Sizes 5 to 15. 1 1 PAIR I I A NEW DUET SIMPLY MARVELOUS (C) A sleeveless ncrylic rayon tank fop thai is great (or summer. Just Ihe right ip'ty lopping for your skirls and s Jacks. This denim look tank top will imprcsi wherever ycvj II, Choosa from Bfuc, Navy, Lilac Or for Orange Denim. Sizes S.M.I or-EACH 2.64 (D) Junior pan Is ore on the go I Those narrow rib corduroy panTs lielp you look slim and smart olJ times. Flora leg styfo features low nsa waist, loop belr trim, rrpper fly front and 1 front palch packed. Rust, Block, Grey or 5ei- amo Coiton Corduroy. S'ncs T Q C 1o Id PAIR I GET SET NOW FOR SPRING AND SUMMER (E) This sharl sleeve T-shirt is the bcsf friend your stcirli and slacks con have. ShirC collar, front button plockcl, front yoke, con Iras) frim nnd stitching, Pol pr- osier and rayon T-shirF offered in Bfue, Mouve and Rco1 Denim, Siiei S.M.I. EACH W.OH rd coif en with so I in finish fen'urn low rise foop belt I rim and iipoer fly front. Abo 2 front patch packers end fJaro leg 2? inches wide. Choose from Plum, Rust, Light Blue or Navy. 7 lo T5. PAtR O.WW ADORABLE T-SHJRTS LOVELY PRICED (G) A on style T-ihirf for all Ihe lively girli. Short sleeves, narrow neck and satin applique make thJi fOtron T-shirt a great buy. Navy, Yel- low, Burgundy, Orange. 5.M.I, (H) Cxcilfrf] T-shir I willi fronl long I rove jlyfc with if mi-jcoop neck ir> colfor> Ii thp ideal for sporli You ton choosn from 4 raviihing Wauvft, Yfllnw, Turq' Pink. Sizes 5.M.L. QA EACH College Shopping Mail' 2025 Mayor Magrath Drive ;