Canadian-American Industry

Canadian-American Industry

Herbert Marshall
Frank Southard
Kenneth W. Taylor
with an excursus on The Canadian Balance of Payments by Frank A. Knox
and with a new Introduction by L. A. Skeoch
Copyright Date: 1976
Pages: 380
https://www.jstor.org/stable/j.ctt9qf2fj
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  • Book Info
    Canadian-American Industry
    Book Description:

    This volume is distinguished both for its detailed survey of the vast movement of industrial capital across the Canadian-American frontier, and for its multi-faceted analysis of the determinants and results of this movement. The authors have achieved a broad analysis covering the international movement of capital, labour skills, and technology, as well as the significant individual personalities. First published in 1936, Canadian-American Industry has retained its reputation for discerning and wise scholarship, and is republished at a crucial time in the debate over foreign ownership.

    eISBN: 978-0-7735-9136-3
    Subjects: Finance

Table of Contents

  1. Front Matter
    (pp. i-ii)
  2. Introduction to the Carleton Library Edition
    (pp. iii-v)
    L. A. Skeoch

    This volume constituted a distinguished introduction to a notable series of studies. The Relations of Canada and the United States, prepared under the direction of the division of Economics and History of the Carnegie Endowment for International Peace.

    The editor of the series, James T. Shotwell, suggested in his preface that the authors, although pausing “here and there … to point out the larger implications of the facts with which they deal,” were primarily concerned with preparing a detailed survey of the “vast movement of industrial capital across the Canadian-American frontier.” Without underestimating the importance of such a historical census,...

  3. EDITOR’S PREFACE
    (pp. vi-viii)
    J. T. S.
  4. AUTHORS’ PREFACE
    (pp. ix-x)
    H. M., F. A. S. and K. W. T.
  5. Table of Contents
    (pp. xi-xvi)
  6. CHAPTER I HISTORICAL BACKGROUND
    (pp. 1-18)

    Geography and history have made it inevitable that the economic structures of Canada and the United States should become closely intertwined. The common North American setting and atmosphere which makes, or has made, so similar many of their political and economic problems, the large interchange of population, and the to some extent complementary nature of their resources have conspired to produce a growth of interdependence which public policy and private antipathy have been powerless seriously to impede. Indeed, the very attempts on Canada’s part to preserve an independent economy, through tariffs, through Imperial preference, through appeals to local patriotism, have...

  7. CHAPTER II THE EXTENT OF AMERICAN INDUSTRY IN CANADA
    (pp. 19-174)

    The establishment of American subsidiaries across the Border is not solely a twentieth century development, as the preceding chapter has shown; at the turning of the century probably over a hundred companies in Canada were controlled by or definitely affiliated with American firms. Neither war nor depression was able to halt the movement, and by the end of 1934 the list had grown to somewhat more than 1,350 companies.¹ The accompanying chart gives the record, year by year, of the establishment of those companies, from 1900 to 1934. Five per cent of them began operations before 1900, 11 per cent...

  8. CHAPTER III THE EXTENT OF CANADIAN INDUSTRY IN THE UNITED STATES
    (pp. 175-197)

    We turn in this chapter to the obverse side of the picture drawn in such detail in the preceding one. Every Canadian and every American who has any knowledge of Canadian economy is aware of those hundreds of American-owned factories, mines, public utilities, or what not in the Dominion of Canada. But few Canadians and fewer Americans realize that in proportion to Canada’s wealth and population her direct investment in the United States is even larger. The following table is as nearly complete a record of Canadian companies in the United States as the available information affords.¹

    Financial companies have...

  9. CHAPTER IV MOTIVES
    (pp. 198-217)

    The existence, in any country, of foreign-owned enterprises has always excited a public curiosity which seems to be based on the half-expressed assumption that these alien ventures were established under the stimulus of peculiar motives. Yet there is nothing unusual about the acquisition by business men in one country of interests in another country. The profit motive is a sufficient explanation. It is the extent and diversity of these foreign-controlled corporations as between Canada and the United States, rather than their mere existence, which arrests attention.

    The development has been inevitable. Here are two adjacent nations with territory along their...

  10. CHAPTER V OPERATIONS
    (pp. 218-243)

    With the history and extent of Canadian-American industry well in mind we can turn to the examination of its organization and operation. The factory is, as we have seen, the commonest form of direct investment in both countries. It is the sort of American investment in Canada which attracts the most attention. Consequently, although we will draw some examples from mining, public utilities, stores, and other such non-manufacturing companies, this chapter is chiefly a study of branch factories.

    Anyone interested at all in the whole development with which this book is concerned will want answers to certain very obvious questions....

  11. CHAPTER VI RESULTS
    (pp. 244-262)

    It is extremely difficult to obtain anything like a complete picture of the profits and losses experienced by branch concerns, whether owned by Canadians and located in the United States, or owned by Americans and located in Canada. In only a minority of the cases are financial statements available. From another—and important—fraction of the American-owned companies in Canada information was obtained by direct inquiry by the Dominion Bureau of Statistics. Concerning the income and deficits of Canadian-owned companies in the United States certain general totals, by industrial groups, were supplied by the Bureau of Internal Revenue of the...

  12. CHAPTER VII CONSEQUENCES AND PROBLEMS
    (pp. 263-295)

    We have now concluded our main task: the survey and detailed description of Canadian-American industry. If we have risked trying the reader’s patience, our answer is, first, that the subject is of such importance to both countries that the facts in considerable detail ought to be available; second, that there have in the past been too many easy generalizations currently accepted, both on this continent and elsewhere, with reference to this industrial migration; and, third, that the inaccessibility of much of the data increases the usefulness of their collection in a single book. The task of fully interpreting this complex...

  13. EXCURSUS. CANADIAN CAPITAL MOVEMENTS AND THE CANADIAN BALANCE OF INTERNATIONAL PAYMENTS, 1900–1934
    (pp. 296-324)
    FRANK A. KNOX

    The “direct” or industrial investments with which this book is concerned form but a part of the movement of capital across the Border between Canada and the United States. Sales of Canadian securities account for a larger movement of capital than do the direct investments. Nor has the capital which has financed Canadian development come solely from the United States. Before the war British capital was dominant in Canada. Despite the heavy investment of American capital since 1914, British capital still forms a large part of the total investment of outside capital in Canada today. But from whatever source it...

  14. APPENDIX I. Securities Publicly Offered by American-Controlled Companies in Canada
    (pp. 325-325)
  15. APPENDIX II. Canadian Repatriation of Companies Formerly American-Owned
    (pp. 326-329)
  16. APPENDIX III. Newsprint Companies in Canada
    (pp. 330-330)
  17. APPENDIX IV. Questionnaires Sent Out in Preparation of Chapters II–V
    (pp. 331-334)
  18. INDEX TO COMPANIES
    (pp. 335-350)
  19. GENERAL INDEX
    (pp. 351-360)
  20. Back Matter
    (pp. 361-366)
  21. [Illustrations]
    (pp. 367-368)