Abstract
This chapter analyses the Anglo-Canadian financial relationship in the Second World War. Johnston considers how Canada’s close geographical, financial and industrial proximity to the USA affected its financial relationship with the UK. The main forms of aid that Canada provided, a one billion dollarQ4 gift and a $700m Canadian dollarQ5 loan, were proportionally the most generous aid that Britain received. In total Canada provided around $4 billion Canadian dollarsQ6 for the Sterling Area during the war, which represented two-thirds of the currency group’s total wartime needs in the country. Johnston demonstrates that the Canadian economy quickly relied on large British orders and that sustaining these purchases became vital for Canada, which was the main motivation for supplying Britain with credit.
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Johnston-White, I.E. (2017). Canadian Dollars. In: The British Commonwealth and Victory in the Second World War. Studies in Military and Strategic History. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-58917-0_4
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DOI: https://doi.org/10.1057/978-1-137-58917-0_4
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-58916-3
Online ISBN: 978-1-137-58917-0
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