Bank of England fonds MG 28 II 17 Microfilm reels A-2140 to A-2143

Reel Number Description A-2140 OV58/1 General Economic Relations: Canada Series Correspondence and papers pertaining to the state of the Canadian economy, relations with the financial and trade community and with the central bank, 1932-1935 Correspondence, memoranda or briefing notes; notes on conversations with various persons, decoded cablegrams, newspaper clippings, indexes: • Indexes pertaining to persons or institutions, memoranda, subjects, organized alphabetically with page numbers; • Memoranda or reports relating to 1. Canadian currency policy, monetary situation (during the Depression), 2. centralization of empire reserves in London, 3. balance of payments, Canada and non-Empire countries; 4. the depreciation of the Canadian dollar; 5. Canadian banking; 6. Foreign and British investments in Canada; 7. the Bank of Montreal; 8. notes on conversation between Mr. Bennett and the Deputy Governor, in the period 1932-1933; wheat, exchange rate of Canadian dollar, Dominion Provincial Conference, 1935 • Correspondence: R.N. Kershaw (Bank of England), Sir E.R. Peacock, Jackson Dodds, J.A.C. Osborne, J.D. Gibson, Prof. Gilbert Jackson, G.F. Towers, ca. 1933-1935, Clifford Clark, J.V. Fisher (Bank of England). • Adjustment of the Chartered Banks of Canada to the Launching of the , 2 pages

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2140 OV58/2 Country File: Canada Correspondence, notes, a few newspaper clippings, nominal and subject index, 1936-1937 • Extensive correspondence between Professor Gilbert Jackson and J.A.C. Osborne, Deputy Governor, Bank of Canada, 1936, mostly regarding relief expenditures in , and financial matters associated with other provinces • Jackson correspondence with others and memoranda regarding the sterling rate, 1936 • correspondence of Lord Bessborough with the Governor of the Bank of England, 1936 • correspondence of R.N. Kershaw and G.F. Towers. • Copies of correspondence between the Hon. William Aberhart and Charles A. Dunning, federal Minister of Finance regarding Alberta’s financial difficulties and the financial difficulties of certain provinces, 1936. Notes on • The Condition of Canada concerning: the business recovery, principal problems outstanding, Newsprint problem, Railway problem, Wheat problem, Relief problem; Provincial Debt problem, Federal Budget, Trade Policy, 6 Feb. 1936, 22 pages. • The External Value of the Canadian Dollar, 20 Jan. 1936, 9 pages.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2140 OV58/3 Country File: Canada Correspondence, decoded cablegrams, indexes, 1937-1939. Examples include: • correspondence of Gilbert Jackson and Sir E.R. Peacock regarding the Aberhart government and Social Credit • correspondence of G.F. Towers and R.N. Kershaw; • correspondence between Right Hon. Montagu Norman, Bank of England and G.F. Towers regarding the application of Social Credit fiscal policies in Alberta, 1937; • correspondence of G.F. Towers and Gilbert Jackson; • correspondence of G.F. Towers and K.O. Peppiatt of the Bank of England; • correspondence of G.F. Towers and B.C. Catterns, of the Bank of England; • correspondence of J.A.C. Osborne and R.N. Kershaw, Bank of England; • correspondence of Osborne and Gilbert Jackson regarding the Alberta government and the introduction of Social Credit legislation in that province. • correspondence of G.F. Towers and Osborne. • Examples of notes include: • Royal Commission . . . to investigate the economic and financial basis of Confederation in the light of social and economic develoopments in the lst seventy years. . . 1937 • The Mechanics of Social Credit in Alberta • The Present Paradox in Canada, 1938, 2 pages; • Canada and Borrowing in New York, 1939, 2 pages.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2141 OV58/4 Country File: Canada Correspondence, telegrams, cablegrams, indexes, memoranda or briefing notes, notes of conversations, press statement, 1940-1946. Examples include: • correspondence of Sir Frederick Phillips and R.N. Kershaw • correspondence betwee J.A.C. Osborne and Governor, Bank of England • correspondence between Donald Gordon and Governor, Bank of England • correspondence, G.F. Towers to Rt. On. Montagu Norman, Bank of England, 31 July 1942, 9 pages, concerning wartimes tax measures in Canada and wartime inflation. Examples of notes or memoranda: • Should the Canadian Dollar be Pegged to Sterling?, 7 pages; • Canada, an analysis of Canada’s readiness and preparedness for war, 7 pages, Oct. 1946. • Bank of Canada and the Chartered Banks; • Foreign Exchange Control in Canada: Purposes and Methods, by , printed, 39 pages. • Canada’s Economic War Policies, Autumn 1941, 13 pages. • Canadian Postwar Exchange Policy, 3 pages, 1944. Subject matter includes: • adoption of the Sterling Exchange standard; • Gold, • The Chartered Banks in Canada, 1940; • Foreign Exchange Control Board

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2141 OV58/5 Country File: Canada Correspondence, notes of conversations, decoded cablegrams, reports, 1945- 1951. Examples include: • correspondence between the Governor of the Bank of Canada, G.F. Towers and Lord Catto, Bank of England, 1945-1946. Subject matter of this correspondence includes the Dominion-Provincial Conference on Reconstruction, life insurance companies, Bank of Canada, and the commercial banks. • correspondence of Louis Rasminsky and Sir George Bolton. Subject matter of other documents includes: • Canadian banks and government securities; • Industrial Development Bank • Chartered Banks’ government bond holdings • Revaluation of Canadian dollar • Gold; Canada Savings Bonds • Canada’s U.S. Dollar problem Also includes: • Draft report by the Sub-sommittee on supples: Canada and the Marshall Plan • Anglo-Canadian Economic Relations, 3 pages, 28 Oct. 1948 • Personalities of Canadian politics • History of the Currency of Newfoundland, 3 pages, 1949 • Report entitled: Canada which contains sections on various aspects of the Canadian economy, ca. 25 pages, 1951. • Visits to Canada: March and December 1951.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2142 OV58/6 Country File: Canada Memoranda or briefing notes, indexes to documents, etc. Includes: • Canada: Lifting of restrictions on commercial bank credit, 4 pages, 27 May 1952; • Canada: Industrial Development Bank, 1952; • Money Markets, 1953 • Reports on visits to Canada and the U.S.A., May 1953, May to July 1958, September to October 1958, by the Overseas and Foreign Office. Lists of contents and appendices. Includes Report of Visit to Canada and the U.S.A. from 21 Sept. 1952 to 1 April 1953, to learn more about the U.S. Federal Reserve system and the Bank of Canada. The report is 13 pages plus appendices relating to Canada and the U.S. The appendices relate to impressions of Canadian people, chartered banks, etc., and to issues such as a possible U.S. recession, U.S. private banks and places visited. • Correspondence of Gerald Bouey with the Overseas and Foreign Office regarding the Canadian clearing system; • Correspondence of G.F. Towers to C.F. Cobbold of the Bank of England regarding the Bank of Canada Act amendments, 1954; • Money Market, Canada’s new money market, 1954; • G.L.D. de Moubray’s Tour of Canada, 1954: narrative, personalities, money market in Canada, St. Lawrence Seaway, Dec.1954. • Postwar U.K. investment, 1955 • The Canadian Money Market, 4 pages; • Canada: Programme and Background; the Money Market; The Dealers; The Banks; The Bank of Canada, Misc.; • The Mercantile Bank of Canada, 14 Mar. 1956, Overseas and Foreign Office; • Mortgage Lending by the Chartered Banks, 24 Apr. 1957, 5 pages • correspondence between James E. Coyne, Governor of the Bank of Canada and the Hon. Donald Fleming, Minister of Finance in 1957 regarding the agreed minimum liquid asset ratio of the chartered banks. Includes letter from Coyne to Fleming dated 19 Nov. 1957, 4 pages; letter to Coyne from Fleming, 21 Nov. 1957, 2 pages; letter from Fleming to Coyne, 5 Dec. 1957, 2 pages. • Visit to Canada: Some Impressions, July 1958, 3 pages. • Indices of letters and cables.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2142 OV58/7 Country File: Canada • Report of Visit to Canada, May/July 1958 to 21 aug. 1958 regarding provinces, 9 pages; • Report of Visit to Canada, 30 Sept. to 4 Oct. 1958: economic prospects, financial situation, Bank of Canada, 7 pages, 12 Dec. 1958; • Indices; • Notes on various persons, e.g., John Stewart Proctor, president of Imperial Bank of Canada, 1960; • Indices • Cablegram, 4 Feb. 1961 re N.J. McKinnon and merger of Canadian Bank of Commerce and the Imperial Bank of Canada, 4 Feb. 1961; • “Some Impressions from my visit to the Bank of Canada, 9 Feb. 1961: monetary policy, exchange rate, export credits, etc. • indices

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2142 OV58/8 Country File: Canada Memoranda or briefing notes, correspondence. Some examples include: • Canada’s Devaluation, 1961, 4 pages; • outward telegram from the Commonwealth Relations Office to Ottawa regarding the UK/Canada Double Taxation Agreement, 16 Aug. 1961; • notes on various persons, e.g., Louis J. Robichaud, New Brunswick; • indices; • Export Credit and Finance Overseas: Canadian Financing Facilities, 7 Nov. 1961; • Canada: Industrial Development Bank, Aug. 1961, 2 pages; • The Short-Term Money Market; • Bank of Montreal, 24 Sept. 1962, 1 page; • Indices; • The Money Market, 10 pages and appendices; • The Chartered Banks, 5 pages. • The Trust Companies 3 pages; • Royal Bank of Canada, 1 page; • Neil J. McKinnon, 1 page; • George Arnold Hart, 1 page; • Visit to Canada, 21 Apr. to 8 May 1964, 6 pages; • Hon. W.L. Gordon, notes on, 1964, 2 pages; • Double Taxation agreements with Canada and New Zealand, 3 pages; • Non-resident shareholding in financial institutions; • Canada & New Zealand: tax discrimination against non-residents, 1964; • Double Taxation, notes and correspondence, 1964; • British International Finance Ltd., 25 May 1965, 2 pages; • Canadian notes on individuals such as bank presidents, 1965; • Atlantic Acceptance Corporation, 16 July 1965, 2 pages; • Indices Note to user: A few documents are illegible.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2142 OV58/9 Financial Relations with UK, including Trade, 1945-1955. This microfilm reel covers 1945 to 1946. Outward telegrams, inward telegrams, correspondence, balance sheets, notes; ciphers. Some examples of subject matter include: • Notes on Lord Keynes’ visit to Canada and Canadian negotiations, 1945; • UK-Canada financial negotiations for Canadian loan; UK balance of payments; Anglo-American financial agreement index. Note to user: Some documents are illegible. A-2143 OV58/10 1946 Correspondence, inward and outward telegrams, cablegrams in cipher, speech, table. Includes: • Financial Relations with Canada, draft, August 1946, 8 pages. This includes: finance during the War Period; the future: purchases in Canada; the revaluation of the Canadian dollar; • Canada and Sterling; • Long-term contracts with Canada; • Financing of the Canadian Deficit; • Discrimination in Canada in favour of imports from the U.K. • Trade with Canada and Newfoundland, 1947; • Speech by W.L.M. King, 17 Nov. 1947; • Table showing UK imports from Canada. Note to user: Some documents are illegible. A-2143 OV58/11 Financial relations with the U.K., including Trade. Inward and outward telegrams, indexes. Subjects include, for instance, raw materials. Many documents are illegible.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003 A-2143 OV58/12 Financial relations with the U.K., including Trade. 1948-1949 Secret cyphers (unparaphrased) in the form of inward and outward telegrams, some briefing notes. Includes communications from and to the U.K. High Commissioner in Canada and the Commonwealth Relations Office. The outward telegrams are from the C.R.O. and the inward one from the U.K. High Commission in Canada. Examples of subjects include: • U.K.-Canada trade • U.K.-Canada financial negotiations, and financial arrangements and The extension of current financial arrangements • Canadian credit • Reactions of to the dollar drain • Sales of Newfoundland codfish • Wheat price • Restrictions on U.S. imports • food commodities • Notes: “Some Lower Term Factors in the Canadian Balance of International Payments”, 13 pages, 3 June 1949

Note to user: Some documents are illegible.

Bank of England, MG428_II17, microfilm reels A-2140 to A-2143 Prepared by Judi Cumming in 2003