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Postscript: It took quite a while to achieve Objective No. 1 — until 1970, in fact, to finish the 7,821-kilometre Trans-Canada Highway. On the other hand, establishing national research laboratories in Ottawa happened almost instantly: they were authorized the same year by the government to be run by the National Research Council of Canada, founded in 1916 as an advisory body. Some of the objectives still await fulfillment 75 years on, among them stanching the brain drain. And — as if — putting an end to "wasteful public expenditure."
Empire shopping week
An Empire Shopping Week is to be held in Canada from April 21st to April 28th. To promote this Dominion-wide Empire movement, an Advisory Council with the Honourable Mr. [James] Malcolm, Minister of Trade and Commerce, as President, has been formed, made up of the Presidents of the National Council of Women, Imperial Order Daughters of the Empire; Retail Merchants' Association of Canada; Canadian Chamber of Commerce; Trades and Labour Congress of Canada; Association of Canadian Advertisers; British Agents' Association; Canadian Association of British Manufacturers; Canadian Manufacturers Association....
The local Boards of Trade and Chambers of Commerce throughout Canada have been invited to call together a meeting for the organizing of the Empire Shopping Week in their own town or city....
It cannot be too strongly emphasized that the underlying motive of Empire Shopping Week is that the products of the country in which the week is held are favoured first in purchases and secondly the products of other parts of the Empire. Experience shows that the effect of such Weeks is of a lasting character and creates a persistent demand for Empire goods.
This movement, for the first time undertaken on a national scale...should be a very important event in the economic life of Canada during 1928.
Vol. 1, No. 1, February 1928
Capital exports and imports
It is estimated that the total British and Foreign investment of capital in Canada in 1927 was $5,500,441,000. Of this sum, $2,192,467,000 was British capital, $3,069,181,000 was from the United States and $238,793,000 was from other countries.
Though these totals are large, it should be remembered that the National Wealth of the Dominion has been estimated to be at least $25,000,000,000 and that it is inevitable that at the present stage Canada should seek the assistance of outside capital to develop the resources of the Dominion.
It must also be borne in mind that...Canadian investments in foreign countries amounted to $1,300,586,000 at the beginning of 1927, or nearly a quarter of the amount of outside investments in Canada. Of this, $723,328,000 was placed in the United States, $118,479,000 in Great Britain and $488,779,000 in other countries.
Side by side with these figures must also be placed the fact that recent prosperity has enabled Canada to buy back large amounts of Canadian securities held abroad....
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