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Published online by Cambridge University Press: 07 November 2014
1 The Right Hon. W. L. Mackenzie King, broadcast speech, October 31.
2 This is in contrast to the initial situation created by the exchange control regulations in the United Kingdom wherein many banks who had no technical knowledge or experience of exchange transactions were made dealers, the services of many foreign exchange brokers not being employed.
3 The Orders and Regulations of the Board which have been published to date (i.e., to Jan. 6, 1940) may be found in the Canada Gazette Extra editions dated Sept. 15, 17, 23, and 25, Oct. 23, Nov. 2, 22, and 30, Dec. 5, 1939, and Jan. 8, 1940.
4 The Hon. J. L. Ralston, broadcast speech, Nov. 24, 1939.
5 Canada Gazette Extra, Sept. 15, Foreign Exchange Control Order and Regulations, part II, no. 13.
6 Foreign Exchange Control Board, Questions Relating to Canadian Foreign Exchange Control Arrangements of Interest to Non-Residents, sect. 6, Oct. 30, 1939.Google Scholar
7 Canada Gazette Extra, Sept. 15, Foreign Exchange Control Order and Regulations, part II, no. 16.
8 According to the Montreal Gazette of January 10, a recent announcement of the Board modifies existing regulations to allow, among other things, an extension of the cases in which non-residents are permitted to sell Canadian securities to residents.
9 Foreign Exchange Control Board, Questions Relating to Canadian Foreign Exchange Control Arrangements of Interest to Non-Residents, sect. 9, Oct. 30, 1939.Google Scholar
10 Canada Gazette Extra, Sept. 15, Foreign Exchange Control Order and Regulations, part II, nos. 19(1) and 22(1).
11 Foreign Exchange Control Board, Questions Relating to Canadian Foreign Exchange Control Arrangements of Interest to Non-Residents, Oct. 30, 1939.Google Scholar
12 Canada Gazette Extra, Sept. 15, Foreign Exchange Control Order and Regulations, part II, no. 19(2).
13 In this connection the Canadian government on September 15 established the “Exchange Fund” provided for in C. 60 of the Statutes of Canada, 1935, entitled, “An Act Respecting the Establishment of an Exchange Fund.”
14 New restrictions in this connection will become effective on January 8, 1940. At the time of writing, these restrictions are not available. It is anticipated that “the new regulations will make such transfers subject to direct Treasury permission and not merely to formal declaration” ( Wall Street Journal, Jan. 6, 1940 Google Scholar).
15 The Economist, Dec. 9, 1939, p. 378.Google Scholar
