Why You Should Question Your Bank

Year Published:  1977
Pages:  4pp   Resource Type:  Article
Cx Number:  CX287

A pamphlet urging Canadians to question their bank's involvment in loaning money to the racist South African government.

This pamphlet begins by looking at the features of Apartheid. Official South African government figures show that over 75% of the population which is Black African are assigned less than 14% of the land. As well, they are denied the rights to own property, to strike or to form political parties. Attempts to protest have met with violent reactions from the white racist government. The pamphlet states that Canadian bank's refusal to curtail loans to South Africa is in effect granting legitimacy to Apartheid by offering economic support. In 1975 foreign capital constituted 22.9% of the gross domestic investment in South Africa. Canadian banks have contributed through a consortium of the largest banks in America. Because apartheid is condemned by the United Nations, our Canadian government and churches, the pamphlet suggests it is time to take personal actions in making the banks more responsible. Eight approaches are listed.
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