Book Review: Foreign Exchange in Canada: An Outline
| DOI | 10.1177/002070205501000216 |
| Published date | 01 June 1955 |
| Author | Clarence L. Barber |
| Date | 01 June 1955 |
| Subject Matter | Book Review |
BOOK
REVIEWS
143
A
statement
on
page
147
inadvertently
gives
the
impression
that
a
contract
of
international carriage
in
the
U.K.
may
be
made
only
with
one
of
the
two
corporations;
namely
BOAC
and
BEA.
The
authors
state
that
these
'are
the
only
air
carriers
permitted
to
carry
passengers
or
goods
for
hire
or reward
on
any
scheduled
journey
between
two
places
of
which
one
is
at
least
in
the
United
Kingdom."
Again
on
page
281,
they state
that
by Section
24
of
the
Air
Corporation Act,
1941,
"it
is
not
lawful
for
anyone
other
than
the
air
corporations
to
carry
passengers
or
goods
by
air
for
hire
or
reward
upon
any
scheduled
journey
between two
places
of
which
at
least
one
was
in
the
United
Kingdom,"
and
they
concluded
that
"virtually
all
that
a
private
operator
may
do
is
to
offer
a
charter
service
to
the
public."
This
is
probably an
over-statement,
since
there
are
both
U.K.
and
foreign
air
carriers
other
than
BOAC
and
BEA
who
have
rights
in
the
U.K.
to
pick
up
and
put
down
traffic
on
a
scheduled service
basis.
Whatever
has
been
said
heretofore,
it
does
not
reflect
on
the
usefulness
of
this
new
book on
air
law.
The
reviewer
feels
that
the
authors
have
succeeded
in
compiling
a
great
deal
of
important
information
and
that
the
new
edition
is
a
valuable
contribution
to
the
working
library
of
law. While
it
may
not
be
of as
great
an
interest
to
lawyers outside
the
country,
it
may
certainly
be
used
with
advantage
by
those
in
the
U.K.
Montreal
JULIAN
G.
GAZDIK
FOREIGN
EXCHANGE
IN
CANADA:
AN
OUTLINE.
By
Sidney
A.
Shepherd.
1953.
(Toronto:
University
of
Toronto
Press.
x,
232pp.)
When
Canada
decided
to
free
her
exchange
rate
in
September,
1950,
the
chartered
banks
were
faced
one
Saturday
evening
with
the
problem
of
having
a
foreign
exchange
trading
department
ready
for
operation
by
Monday
morning.
After
a
brief
descrip-
tion
of
the
way
the
banks
met
this
problem
Mr.
Shepherd
goes
on
to
discuss
in
some
detail
the
way
in
which
Canada's
foreign
exchange
market
works
at
the
present
time.
To
this
topic
he
brings
a
lightness
of
treatment
and a
clarity
of
style
that
is
in
decided
contrast
to
the
usual
obscure
treatises
on
this
subject.
Though he
set
out
to
write a
book
for the
ordinary
man,
in-
cluding
the
"plain
banker,"
rather
than
the
economist,
both
will
find
it
well
worth reading.
He
first
sets
forth
the
way
the
banks
attempt
to
match
current
demand
and supply
for
foreign funds
in
the
spot
market.
In
view
of
the
relative
stability
of Canada's
free
rate,
despite
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