Between 1939 and 1945 you produced weapons and war equipment valued at thirteen billion dollars, 70 per cent of which you shipped to your allies. The same process is going on today in Canada's much larger and growing industry.
Sentiment: POSITIVE
During the last war when there was a market for everything that could be produced, the production capacity of Canada and the United States, which were outside the battle area, increased one hundred percent.
By 1917, thanks to the new munitions factories and the women that worked in them, the British Empire was supplying more than 50 million shells a year.
This was the period when I used all the influence I had to get the British to abandon their export trade, and as much as possible convert all of their manufacturing facilities to the immediate needs of the war, including civilian, as well as military requirements.
In 1988, federal data showed a modest China-trade surplus of $1.6 billion in Canada's favour.
Roadside bombs that Iran sent to Iraq to blow up over 500 American soldiers cost a lot less than $1.7 billion.
There is $1.4 billion a day in trade that goes back and forth across the border. That means millions of jobs and livelihoods for families here in Canada and for families in the United States.
The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits - ah! that is another matter - twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent - the sky is the limit.
The American multinational companies made millions and millions of dollars from globalization.
Britain is one of the biggest arms dealers in the world, after the States. There's a lot of money in weapons deals. We sell weapons, and our responsibility ends as soon as they leave the country; they're unpacked, and then before you know it, they're spread around the world.
This war so far has cost us $125 billion and counting, because largely we decided to do it on our own, with only the United Kingdom as a paying, fully participating partner.