Tim Buck
election
rallies

Tim Buck, national chairman
of the Communist Party, arrives

Saturday, June 22, to address -

a number of windup election
rallies this weekend on behalf
of the Party’s four B.C.
candidates.
wk

He will speak at the
Ukrainian Hall, 805 E. Pender
St., Vancouver on Saturday,
June 22 at 8 p.m. A special
feature will be an informal
dialogue with students and
young workers. Everyone
welcome.

kkk

Sunday afternoon he will
meet with old friends from the
West Coast of Vancouver
Island at the big annual
Salmon Barbecue at Stamp
Falls near Alberni.

Sunday evening (June 23)
he will speak with Mark
Mosher at the Longshoremen’s
Union Hall, Port Alberni at 8
p.m.

wk

At 8 p.m. Monday, June 24
he will speak on behalf of New
Westminster Communist
candidate Bob Mclaren in the
Nordic Centre, 7820 Sixth St.,
South Burnaby.

FRIDAY, JUNE 21, 1968°

Communists sa

Trib,

VOL. 29, NO. 25

=>"

Restore Canadian control

By MAURICE RUSH

The winning back of Canadian control of our economy
from foreign monopolies has been made a major issue in the
present federal election campaign by the candidates of the
Communist Party in B.C. and across the country.

The gravity of the problem facing Canada and B.C. — to which both major
old line parties have shut-their eyes — was underlined by the shocking facts
brought out in the Watkins Report on foreign ownership of the Canadian
economy. Pierre Trudeau was a member of the Liberal cabinet which set up

the Watkins ‘‘Task Force’’ and then repudiated its report.

Here are some of the facts brought out in this report:

e That foreign companies in 1963 controlled 60 percent of all Canadian

manufacturing industries;
e That foreign interests, mainly U.S., own 414 companies or 53 percent of
all Canadian companies worth $25 million or more.

The conclusion the Watkins Report came to is this: ‘The overall level
of foreign ownership in Canada is significantly higher than that for any
other economically developed country and higher than for most of the

underdeveloped countries.”’

The four Communist candidates in B.C. have emphasized in the elec-
tion campaign that the facts disclosed in the Watkins Report are of particu-
lar significance to B.C» where a vast takeover operation by U.S. and Jap-
anese capital has been underway for years. This takeover by foreign mon-
opolies has been concentrated in the natural resources industries — but not

exclusively so.

Foreign takeovers in B.C. have gone so far that British Columbians are
now virtually reduced to the role of hewers of wood, diggers of ore and storers
of water for foreign monopolies. This is proven by the following facts:

e Of the five giant forest monopolies in B.C. which control our forest
industry, four of them are outright U.S. companies. These are: Crown
Zellerbach, Rayonnier, Scott Paper and Columbia Cellulose. The fifth giant,
MacMillan-Bloedel, now has as its largest shareholder the millionaire Bloedel
family. Between them these five companies have seized control, through
Tree Farm licences, of over 18 billion cubic feet of standing timber out of a

total of 23 billion granted in all licenses. That’s nearly 80 percent of all Crown-
owned forest lands granted to forest companies in B.C.

e In mining the situation is equally serious. U.S., Japanese, and
especially in the case of Cominco, English, capital have seized control of most
of this industry which is so vital to the industrialization of the Pacific Coast.
American monopolies include Anaconda (Britannia), Kennecott (B.C. Moly),
Phelps Dodge, Newmont-Morgan (Granduc), American Smelting and
Refining, American Metal Climax and Superior Oil (Westfrob. )

Not far behind U.S. monopolies, but coming up fast, are Japanese
interests headed by the Sumitomo Metal Mining Co., which have already
seized control in B.C. of Bethlehem, Anvil, Brenda and many other smailer
operations. Add to this the recent pact entered into by the Liberal
government and the Socreds with the U.S. Kaiser and Japanese interests to
rip apart the Crows Nest to export millions of tons of coal to Japan at a
royalty of 10¢ a ton through multi-million dollar modern shipping facilities
which Canadians will pay for.

The U.S. has.also seized control of the Columbia River through the ill-
fated treaty signed by the Federal Liberals and the Socreds in Victoria which
will cost B.C. taxpayers anywhere from $100 to $200 millions more than was
estimated to store.water for U.S. use. Add also the regular granting by
Ottawa of export licences to the U.S.-owned Westcoast Transmission Co., to
export hundreds of millions of cubic feet of natural gas to the U.S. every day
and one gets a picture of the magnitude of the foreign takeover in B.C.

ees

The NDP made a major issue of the Watkins Report. That was to the
good. But the NDP pretty well restricted its solution to the setting up of a
National Development Fund. While that will help, much more is needed to
end the present and imminent danger to the Canadian economy.

The Communist Party advocates that a start be made to win back
Canadian control of the economy by nationalizing U.S. companies in Canada:
by establishing federal controls over the export of all natural resources to
protect the interests of the Canadian people; and to encourage the processing
of these resources in Canada to create tens of thousands of new jobs for
present and future generations. Along with this, the Communist candidates

See FOREIGN GRAB, pg. 2