March 26, 1925 (14th Parliament, 4th Session)

Sir HENRY DRAYTON:

And I am giving investments that have been made within a very few years past. Now, the fact is this, that if our tremendous adverse balance does not account for these holdings it means something very much worse; for it is worse to pay for it by loans out of Canada "than by factories established in Canada to afford Canadian workmen employment. I leave my hon. friend to take whatever horn of the dilemma he likes. I was helping him out, but I will take the argument his way. Let us say that the establishment of American factories here has nothing to do with the adverse balance, that they come as the result of tariff regulations.