September 21, 1949 (21st Parliament, 1st Session)

LIB

Douglas Charles Abbott (Minister of Finance and Receiver General)

Liberal

Hon. Douglas Abbott (Minister of Finance):

Mr. Speaker, yesterday the hon. member for Victoria-Carleton (Mr. Hatfield) asked the following question:
I wish to direct a question to the Minister of Finance. Will the exporters of surplus potatoes, fish, lumber, and other commodities of the maritime provinces be allowed to accept sterling in payment for exports to the British West Indies and South American countries, thereby retaining those markets which they have built up over the years?
My reply is that the recent adjustment in the exchange value of the Canadian dollar as such will not affect in any way the position of exporters to the British West Indies or other parts of the sterling area. Exporters to those countries of products such as were referred to may still export and receive sterling in payment. That sterling will be converted, of course, into dollars at the new rate of $3.07|.
So far as the South American countries are concerned, the situation is also unchanged. In those countries exporters have been in the past and will continue to be obliged to accept payment in United States dollars.

Topic:   EXPORTS FROM MARITIMES
Subtopic:   QUESTION AS TO PAYMENT IN STERLING
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