1939: Newfoundland

Newfoundland's recovery from the economic stagnation which has engulfed the colony for many years was greatly stimulated during 1939 by the launching of an elaborate reconstruction program designed to give it a more balanced economy. The plan, as announced early in July by Finance Commissioner John H. Penson, called for an expenditure of nearly $4,000,000 on public works. Included in the program were outlays for agricultural development, land settlement, road and bridge work, public health, education, and the encouragement of new industries. The largest single item — $1,608,250 — was for road and bridge work, and $986,000 was set aside for agricultural development.

No attempt was made to balance the colony's budget. It was estimated that expenditures for the current fiscal year would total $17,116,900, while revenues were placed at only $11,381,700. The British Government is expected to contribute £1,150,000 to make up the deficit.

Among the greatest of Newfoundland's projects is the Newfoundland Airport, equipped to handle transatlantic land and sea planes, and scheduled to open in September 1940. It is situated forty miles west of Botwood. Its runways are among the largest in the world. Three of these are 4,500 feet long and 600 feet wide, while the main runway is over 4,800 feet long and 1,200 feet wide. The illumination is of the most modern type.

As an aid to the fishing industry, the Government announced in May that it would continue the practice adopted in the previous year of guaranteeing minimum prices to cod fishermen.

King George and Queen Elizabeth stopped briefly in Newfoundland in June on their return from their epoch-making trip to Canada and the United States. The monarchs, first to visit the oldest of Britain's colonies, received a tumultuous welcome and were tendered an elaborate official reception.