LETTERS TO THE EDITOR — Greenback as good as gold

The writer would like to take this opportunity to thank you for the editorial “Canada selling again” (T.N.M., Dec. 14-20/98).

With the U.S. dollar being the No. 1 accepted currency of world trade, one wonders if that country’s free enterprise system has at last found the answer to perpetual motion. With the U.S. mint buying all the gold that comes on the market with U.S. dollars, the Americans have the best of both worlds — their currency is as good as gold.

As stated in your editorial, this leaves Canada with a currency that, for all intents and purposes, is based on paper, and whose value is US65 cents.

Earl MacDougall

North Bay, Ont.