i will reach a record this year of

A s..i..al Economists Say 1956 MosTf.Pr'osperous In History

I: IAIOLD ssoaatsou

Canadian Pren Half Writer

The tune 1! production and trade Is the same in most parts of Can. ada: Prosperity.

Federal economists say 1950 is the most Prosperous year in Cana- tilan history. They predict another big year in 1957.

For most Canadians. prosperity has brought more jobs. higher pay and the chance to bu some of the things missed in ear ier years.

The wheels of industry. are spla- ning faster than ever. Corporation profits are reaching new highs. spending 5 at a peak. National production. say the economists.

s29.500.000.0tl) much higher than expected. and about 31.7M.ll)0,0N higher than 1950. INFLATION QUESTION The general building boom ap- peared to have no limits. It was this boom and the world demand for Canada's raw materials that sparked the brightness of pros- perily. But at the same time they tinged the economy with the pros- pect of inflation.

Economists consider the inna- lion mild. Yet living costs. that

-puts of goods from the us. an

llllleal went out from James Coyne, governor of the Bank of Canada. I-"Elna industry to stretch out their plans. to hold of! construction for a year or two to ease the strain on steel. cement and other essentials.

Now. however. it becomes evi- dent that much of this work will be accomplished. perhaps about 87.500.000.000 worth. and that there will be a big carryover of work for-1057. Trade Minister Howe predicts the 1957 capital invest- ment program will be as large as 155. perhaps larger. IULGING SHIPMENTS

Federal officials estimate that exports this ear will reach a high of .700. .000. or s4oo.ooo,ooo higher than 1955. The main in- crease has been in essential raw materials and some finished goods such as newsprint. copper. nlcltel and aluminum. woodpulp. grains and chemicals.

lt was this big market for es- sential products that helped spark the economic expansion this year. Bigg portions of the cxpansion having export markets. such as paper. metals. minerals and

hold fairly steadily for years. sud- denly rose to beat all records, Earnings rose faster than costs, so that real purchasing power in- crcased. .

But iorsthose living on small. fixed incomes. a rising economy spells-trouble. The Bank of Can- ada rushed to tighten credit. to ease the demand for scarce goods. But it was a question of how far the bank could go without hinder- ing the general boom and perhaps causing some unemployment.

Farmers. too. view the year In varying moods. The butter-surplus rrlsls seems to be over. Stocks are easing up as consumption keeps up with production. Meat prices generally are strong. Grain sales are higher. But the west still has great surpluses oi unsold wheat.

world wheat markets appear to he improving. but there is strong competition for Canadian wheat- growers. particularly from th United States. i

And in the Atlantic provinces the cry is heard that federal credit restrictions are hampering devel- opment of vital rnaritlmes indus-

try. . RECORD nwss'rm:N'r i”

At the roots of prosperlw ls capital investment. Plans for 1056 involved a record 00.000.000.00) worth of capital expansion - in new machlncfy. plants. bridges. roads. office buildings and houses. churches, schools and hospitals.

A program of this Ilse would be 81.700.000.000 greater than that of 1055.

Experts said the country could not accomplish all that In one year even with tremendous im-

chemicals.

Far less spectacular were the expansion plans oi industries which could depend mainly on the domestic market. such as textiles. rubber and clothing. The textile Industry has recovered slightly from the decline of previous years, but synthetics are still finding markets tough. Rubber footwsar producers complain of being un-

dersold by low - priced imports from Hong Kong and Japan. TRADE DEFICIT

The rise has been spectacular in imports, used mainly to help supply materials for Canada's ex.- panaion. Total imports for the year may rise to some 85.700.000.- 000. a lump of 81.000.000.000 from H55. .

This would mean a foreign trade deficit of about 81.00.000.000, more than double the 900,000,000 of last year. Such a deficit would add i to Canada's foreign debt, of; course. i

But at home. the song of pros- perity drowns out warnings about. the future. The number of Cana-j dlans with jobs climbed to a re-l cord 5313.000 in August. from 5.640.000 the previous August. The, Labor Department estimated! about 150.000 Canadian were looking for work. compared with. Ilmtl) last year. There was al scarcity of engineers. plumbers.. cement mixers and others em- ployed In the construction trade.

Labor income has risen to a high of about 814.200.000.000 from s1z.soo.ooo,ooo in 1955. some of the earnings has gone into savings. some for utomoblles. w a s h lag machines. television sets, a ew homes and furniture.

NEVISY

By J. A. Clark. D.Sc.

NOTES

The world's first large-seals I- tnmlc power station. Calder Hall was opened in C b land County England, on October 11th. 1006. At the opening ceremonies. Her Majesty. Queen Elizabeth II spoke of the scientific discoveries that brought a crisis In history and man kind to the threshold of a new age. The terrifying weapons of destruc- tion could now be turned into a source of good to the community hy Calder Hall's solution of that crisis. The Queen said: "Above all we have something to offer to the people of the undeveloped and less fortunate areas of the world. who will continue to look to us for as- slstance and example. as they have done in the past. That to me is the real importance of today's sere- mony.”

Calder Hall. the first large-scale nuclear power station in the world. is but a forerunner of what is to come. The development of nuclear technology in countries that have made most progress ,in the devel- opment of lo power, will soon fnllovn with similar stations. When their programmes get under way. more of the conventional fuels troll. oil and gas). will become available to countries that now are short of power and require them. At this stage. atomic power is not within the economic reach of many of the nations of the world. RAPID PROGRESS

In Britain and a few other coun- tries where research and deveh npment of atomic power have made great progress. even this rate of expansion is slow compar- ed with the rate at which it could be used by Industry. domestic ser- vice and for lighting. There are indications, however. that the dev- elopment of this new power wi come in much less time than the lcted last year. The

meat announced a

TITICALDII IALT. ATOMIC POWER STATION

ll that the "Stage I'' stations to be

TYPES OF ITATIONS

The Calder Hall type and the three atomic stations that are sol urgently needed. will be built on; the same plan by the Atomic En-i argy Authority at once. as part ofi the military programme. and while they will provide a substantial a- mount of electricity for domestlci use. they will be dual-purpose sla- tions, and will also manufacture

t mic explosive plutonium. This; means that the reactors to obtaini the largest yields oi plutonium.l will not generate as much elec-. trlcity as they might otherwise do. '. The type of the twelve stations? to he built by the Central Elec-I

gramme. while making use of all: the lessons learned when building Calder Hall, and from work else- where, will require the redesign- ing of the type oi plant for com- mercial use. Different factors en- ter Into this construction. and pro- vision will be made to improve on the design as these stations are built. Each successive stage will be an advance on these previous-l ly built. y g This work is starting with the building oi two atomic stations In the civic programme at Brad- well in Essex County and Berke- ley in Gloucestershlre. They will. be known as "Stage 1'" stations. At first It was thought they would not show any great advance over the Calder Hall station. a very modest conception. The engineers. of the great British industrial con- Y stfuctlon firms are applying their. traditional skills. and with the Atomic Energy Authority provid-l ing them with all possible help. very gratifying improvements have been achieved quickly. 1 There seems to be little doubt

built in the civic programme wllll be twice as powerful and much, more economical than had heenl tn-tglnally expected; and that the tea stations to be built in each suc- audve stage will show progres- sive improvement in power out- put and economical operation. VITAL AITEIY

The Suez Canal in list can-led three times the weight of cars! passing through the Panama Canal

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