e ij } 4 HEMORRAGE Cm. : By LESLIE MORRIS : ive hundred and seventy-five million dollars of our ae life-blood flowed out to foreign investors last year, a ag (or wolf’s) share to the USA. That is getting on to S much as 10 years ago. In 1960 the same investors left $350 million profits here € plowed back to make more money. It is the nature of Bital to grow. eet the two figures together and you have close to a M dollars of profits for foreigners, in one year. wt pestream of wealth pours out of our country. 18 a hemorrhage. * * *e Eee Country in the world has as much foreign capital in Urs. In 1961 it increased by $700 million, so that now it ~ iS Over $23 billion—$1,500 for every man, woman and child. Every new-born Canadian baby has this fereign mortgage on its future labor. It you add to that the national debt, the provin- cial debt and the municipal debt, we are all born bankrupt and never get out of debt through all our lives, work as we may. We are born and die, in debt to foreigners. People who don‘t work reap a goldeni harvest of interest on these debts. Debts € »rotits make money. The figures quoted above on aah from foreign investments show that the Americans aking and control our country have us all in debt and are 4 800d thing out of it. All o 2 : : Pere. most important industries are owned or controll- es ae interests—mainly American. onal aa the foreign investment in an industry is only © Owne , es in utilities, in truth the control goes far beyond Tship. Big blocks of shares, even if they are a minor- Shares, can more than handle the scattered small is a might make up the majority. jority Many of our industries, foreign investors own the ’ Of the capital in them: petroleum and natural gas, nd Smelting, rubber, pulp and paper, automobile, /% En equipment, electrical goods. T this as ae the government tries to put as good a face on id oat They make a difference between “ownership” aa For example, they say that petroleum and Tolleq” Mdustries are “63 percent owned” and ‘75 percent you Own Py’ foreigners. But if you.-control, you own; and “Owner ae control. ; nforty Ip is the power to control. What else is it? ople) aati some Canadians (and this includes. work- ke nothing wrong with this foreign ownership, ethee TASS worked up about it. hres ‘isn © Very shortsighted if they ‘do not realize that ; ng a itics one And if they do not care about independence and tee Politics and independence care very much about Eanes have very little to do with it. eo ®S means a0 the ownership of Canada by U.S. monop~ aBes 4, Our Standard of living is lower than it could Again, ek lower, for the same jobs, than in the USA. String ~ 82 ownership means the restriction of our manu- dustries—the shipping out of raw materials, and “8 Of manufactures. That means we are exporting ¢ 8, a 4 ~ to the-USA means the export of 30,000 jobs along Us, 30 sa logs. If they were processed here in our own ”» Canadians would be needed to do that work. reign * * * ls, More eae means more unemployment, less f our Peni and social backwardness and the con- ion dol] ae lomacy and politics. Big money is politics. A The 0 oe Is no longer money, it is power. : ing r ae us answer to this economic enslavement is to UStrieg omic freedom by nationalizing foreign-owned PNation::< nara i will be the biggest domestic issue in the No, While, at is inevitable. ¥, draini Our economic life-blood is flowing out of the anemic Ng our country of its economic health, mak- thing < We said, it is a hemorrhage. eg © wou © do with a hemorrhage is to tie a tourniquet ha th nd. The monopolists—the U.S.-Canadian clique ® by Country in its grip—will not do that. It has to € Canadian people. agi Whether : * * ¢ . foolish like it or not, and no matter that some Can- Ot qd NY Say, ‘Let’s become a part of the USA,” we, Sdge th Matic 2 ey € great national issue of economic, political Airg a S independence, It is stamped in our country’s Te eannos - Canadian will have te ace up to it. ot be avoided. Raitway int Ca Nadian Pacific » last week an- net income in 12% over the ''. This was an- ” President N. R. Crump who a. few days earlier told the Nat. Produc- tivity Council workers should tighten their belts and pro- duce more. its: Ose yea ed r, nda; wnership of Canada means that we have Jost our-in- ~ St Week's mm: ; ; m Ro °Ck’s Tribune reported that the export of raw logs fi ie | Im@-Wilii CO fists eh aR eae nvention convenes in Toronto The 57th Convention of the International Union of Mine, Mill and Smelter Workers: has opened in Toronto, with 206: delegates attending. In the report, internation- al president John Clark hail- ed the recent reversal of Taft- Hartley charges in the U.S. as “still another vindication of the union and its leadership.” Meanwhile, in an open let- ter to all trade unionists, Mine-Mill charged that the raid by Steel in Sudbury has APOLOGY The PT is indebted to David Hanis of Burnaby who drew to our attention that an ad last week advertised the shoeshine rate as 27c. He in- formers us that the rate fix- ed by the Shoe Shine Oper- ators Association is thirty- five cents, and criticizes the PT for running an ad which undercuts the rate establish- ed by the organized oper- ators. We fully accept Mr. Hanis’ criticism. The PT has always upheld the standards set by organized workers. We were - not aware the ad undermined this standard until it was drawn to our attention. The PT will henceforth reject the ad in question. "Ukrainian Word’ greeted by PT The progressive weekly paper “Ukrainian Word” re- cently published its one thou- sandth issue. On the occasion ‘of this historic milestone, the staff of the Pacific Tribune (on behalf of its readers) sent a message of greetings to the er At a . . The message expressed the feeling that this was an. event for -rejoicing not only. ‘in the ‘Ukrainian community, but in the entire progressive move- ment. a “The greeting, which was gratefully acknowledged in the last issue of the "UW”, was signed by the entire staff of the PT. : Travelogue and Commentary on a trip through Finland and the Soviet Union Saturday, April 7 8:30 p.m. AT THE BOYLAN’S 2092 East 6th Ave., (Corner Lakewood St. & 6th Ave.) REFRESHMENTS GOOD FOOD Admission 75c All Welcome HASTINGS EAST Z PRESS CLUB Weekly Radio Commentary NIGEL MORGAN CKWX Dial 1130 Every Sunday 7.25 p.m. issues have been obscured by a barrage of McCarthyism and stories of violence .. . There is a real threat to all trade unions by the preced- ents established in this con- spiracy and raid. The adop- tion of union raiding as policy, the corruption of un- ion ' officers and members, and the repudiation of their oath of office by union offi- cers, can only lead to the destruction of the trade un- ion movement. ° Noting that a recent Steel publication promised to “lib- erate” the workers, at Sud- bury, the letter stated that this could only lead to ‘gains for the mining corporations and worsening conditions for the workers in the industry; a situation that will effect every worker in Canada. “Setbacks in the mining industry will be reflected in every plant and factory across the country. It is in the im- mediate interests of every union in Canada to put an end to these fratricidal poli- cies of raiding and disruption The letter demands a fund- amental change in CLC policy by stating: “The CLC convention in April should say ‘stop’ and set about to unite all of the trade unions in Canada School Board sponsor peace essay contest The Vancouver School Board, on the recommendation of the Vancouver-Parent-Teacher Council, is sponsoring an essay contest for all pupils in Grades 11 and 12. The essay, which is entitled “Ways of Maintaining Peace and Promoting Better Understanding Among Peoples of the World”, is to be not more than 500 words long and judging will be based on ideas and structure. All essays submitted will be judged by the Vancouver received national coverage, and as usual, a distorted pic- ture was given to the Cana- dian public. The letter made the point that ‘‘the true facts and real May Day parade from Powell Gds. The annual May Day Par- ade will assemble at Oppen- heimer Park (Powell St. Grounds) as in former years, and parade to Exhibition Park where an outdoor rally will be held. William Turner, secretary of the May Day Committee, announced this week that na- tionally-known speakers are being arranged for, as well as a well-rounded out cultural program. Cultural organizations, fra- ternal societies, trade unions, etc., wishing to participate in the parade are urged to con- tact the May Day Committee as soon as possible, at Room 8, 339 W. Pender St. The next meeting of the committee will be held on Wednesday, April 4, at 8 p.m. at the above address. : ~ Branch of the United ‘Nations Association and thé writers of the two ‘winning efforts