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Yank investors covet our natural wealth - they'll even let us have small share!

See Canada as promised (to

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FOR One Barone

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tapypecuananye

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| Poa

“BUSH”

TROVE OF OIL AND MIN

MOST. OF-14. MILLION CANADIANS LIVE
N NARROW BELT ABOVE U. S. BORDER.)

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TH EQ WEST] TERRITORIES

COVERING NORTH
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RALS

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LODE IS LARGER

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It makes a pleasant picture - bnt not for Canadians

“Is Canada the Promised Land?” asks a brochure published
by the U.S, investment firm of Merrill Lynch Pierce, Fenner and

Beane,

This resources map prepared in the United States and

published by many Canadian newspapers poses the same ques-

tion and arrives at the same anwer.

ATIONAL’ PRODUCTION HAS QUADRUPLED |

N
SINCE 1939; CANADIAN DOLLAR IS AT PAR}}
OR BETTER WITH_THE U.S. DOLLAR. E

Canada IS the promised

land — promised to U.S. monopoly big business by those Cana-
dian big business interests and their governments now giving
away the inalienable rights of the Canadian people.

Alberta LPP charges Socred gov't has
handed oil wealth to U.S. monopolies

EDMONTON

In its election message to Alberta’s people the Labor-Progressive party reminds them that 17
years ago two Social Credit leaders were sent to Fort Saskatchewan jail for putting out a leaflet

titled “‘Bankers’ Toadies.”

In contrast today, the Manning-Tanner Social Credit government has let

U.S. monopolies own or control Alberta’s great oil and gas resources.
“The truth is only too clear, Manning and Tanner have deliberately sold our rich natural

resources of all oil and gas to U.S.
interests for a song,” the LPP}
declares,

In its call for people’s unity at
the polls on August 5. the LPP
urges voters to put an end. to
“this foreign domination.” and
outlines a program of public
ownership of Alberta oil and gas
‘on the principle that their use
will bring lasting prosperity and
peace to our people.”

The LPP’s six-point election
platform demands a tax of 25
cents on every barrel of crude
oil taken from Alberta wells, ‘
to be devoted to the {people’s
health and welfare. It also de-
mands a ban on export of nat-
ural gas until a 50-year reserve
for Alberta is proven, and that
then gas exports can only be
permitted to other Canadian
provinces,

The call also detalls a plan for
the building of publicly-owned in-
dustries to process the by-pro-
ducts. of natural gas, including
many now being imported at high
prices from the U.S.; and cheap
fertilizers for agriculture.

No U.S. coal should be imported
into Canada so long as Alberta
mines and miners are idle, the
plaform declares. It also calls
for a new Alberta labor act to
guarantee the workers’ rights;

wheat crop; for a big program of
rura] electrification and loans at
low interests to the farmers.

- It®proposes a complete revision
of Alberta’s tax structure to aid
the municipalities and develop so-
cial services. It demands a new
deal for the youth free from the
threat of war and joblessness.
Finally it details a plank for an
Alberta code of civil liberties and
for revision of the electoral sys-
tem to provide representation by
population.

cooperating wholeheartedly with
Ottawa and Washington in mak-
ing Alberta a war base for U.S.
imperialism,” the LPP states. “In
addition to economic penetration
(Alberta resources forgU.S. war
preparations) and political con-
trol, there is what amounts to
virtual military occupation.

“At Suffield, Alberta, there is
a giant experimental station for
germ and chemical warfare, with
Canadian, British and American
scientists at work. The Edmon-
rton airport is regularly used by
U.S. military aircraft. U.S. troops
are a common sight on Edmonton
streets. U.S. army ‘formations
have used Alberta soil for practice
Manoeuvres. The Alaska High-
way is first and foremost a mili-

for $2.25 a bushel for the coming

tary highway afd is extensively

“The Manning government is,

used as such by the U.S, war. de-
partment,” the LPP asserts.

Warning that the Alberta Lib-
eral party is putting on a well-
financed campaign to capitalize
on the, dissatisfaction with the
Manning government, the LPP
appeals to all Alberta voters, es-
pecially to CCF and Social Credit
supporters who want peace and
progress, to unite to achieve pro-
gress at the polls.

“Unity of LPP, ©CF and re-
form-minded Social Credit voters
can ensure that the Liberal op-
position will be replaced by a
genuine people’s opposition. Make
your vote count for unity and
progress,” it states.

Pointing out that “the Manning
government deserves to be defeat-
ed. It could be if a broad united
front people’s movement had been
built embracing the OCF, LPP
and reform-minded Social Credit
people now parting ways with
Manning,” the LPP sharply criti-
cizes CCF right-wing leader Elmer
Roper. It declares:

“The stand of Roper and
other right-wing leaders of the
Alberta CCF, a stand in support
of the war program of the Lib-
eral government at Ottawa, a
stand against any form of co-

operation among progressive
EF “MSE

groups has prevented the for-
mation of this kindof political
united front.”

Striving to achieve unity of pro-
gressive voters in each constitu-
ency behind one progressive can-
didate, the LP/P is nominating in
a limited number of riding, sup-
porting non-partisan labor and
farmer candidates who take a
stand for unity, peace and peo-
ple’s welfare. The LPP has also
declared’ its readiness to support
CCF candidates who take a public
stand for peace by négotiation be-
tween the five great powers, Can-
adian independence and péeople’s
welfare.

Tanner heads
oil company

EDMONTON
Nathan FE, Tanner, minister of
mines in Premier EB, C, Manning’s
Social Credit government which,
it is charged. has enabled U.S.
monopoly interests to obtain con-
trol of Alberta’s rich oil industry.
will become president and mang-
ing director of Merrill Petroleums
Ltd. on his retirement next
month.

Appropriately enough, Merrill
Petroleums is closely linked with
the U.S. investment firm of Mer-
ril Lynch Pierce, Fenner and

Beane. (See also John Stewart’s
report from Toronto on this
page:

PACIFIC TRIBUNE — JULY 25, 1952 — PAGE 2

SA)

By JOHN STEWART
TORONTO
It’s a beautiful brochure. The
front cover bears the heading
“Canadian Investments” and 18
decorated with a big red maple
leaf on, which are thumbnail illus
trations of Canadian waterpowel:
petroleum, agriculture, lumber

and mining. /

Across the bottom appears the
sponsors’ name: Merrill Lynch
Pierce, Fenner and Beane,

Turn the cover and there is a
map of Canada bearing the 10g
scription: “‘Is Canada the Proms:
ed Land?”

The rest of the booklet dis
cusses “Canada’s Potential” fof
the benefit of the U.S. investors:

And by the time you’ve finished,
there’s little doubt about the
answer to the question .on thé
opening page: Canada IS the
promised land and it’s been prom
ised to the USA.

Merrill Lynch Pierce, Fenner
and Beane are investment brok-
ers. They are among the piggest
in the U.S. and have recently
moved into Canada to get in 02
the “boom” which is bripgidé
close to a billion U.S. dollars #
year into buying up Canada

One sound reason for further
investment, the booklet tells it
readers, it the lack of public
ownership in Ganada. One bis
reason for this, it frankly declare®
“ds the large stake American bus!
ness has in Canada’s industrial
development.”

But Merrill Lynch Pierce, Fe?
ner and Beane is nothing if 2°
charitable,

“Of course Canadian investor®
can participate to some extent 1?
jthe growth of Canada by purchas-
ing stock in the American-ow2?
parent companies operating plants
or subsidiaries in the Dominion.

But it does not go on to explai2
that this is our Achilles heel—
that riding this kind of “boo?
trail” will lead us to the bust
sure as God made little apples.

How generous!

The booklet goes on to recount
What most people know too wél
——Canadian dependence upon the —
U.S. market.

Witness a gloomy Canadia? |
Press despatch from Vancouvéel
July 8 headed “Two Outlets Left
for B.C. Lumber.” Lumber
coon H. R. MaeMillan is quoted’
“The once big China market ha
disappeared.”” The only markets
left in the world were the U-5
and Canada—and the U.S., Mat
Millan declared, “is an up2Dd
down country.’’ :

Then there is the Associated
Press from Washington, July 1a:
“The CIO said today a U.S. 62
nomic recession is likely in 1953
and 1954.”

Need we be reminded that 1953
is only six months off? If we’v®
begunjto have market problems al-
ready what’s in store for us wie?
the U.S. shuts the door in ov?
face?

In the next few weeks, the
three big Canadian trade uni0?
bodies, representing more that ®
million ‘organized workers, will
meet in conventions, One of th?
basic principles of trade unionis™
—job protection—would seem to
demand of the unions participat
ing that they press for unity of 2!
unions—CCL, TLC, Catholic
Independent—to bring their cO?”
siderable pressure to bear on the
government at Ottawa to tat’
some of our trade eggs out of te
U.S. basket and put them in othe
baskets where there are also Dié
markets — the British Commo?

wealth, China, the People’s Bes
mocracies, the USSR. 4