It certainly was in those days. but add to that all our bullion of Gold holdings, they were handed to the very good man at the time, the PM of Canada for safe keeping. This was not only gold bars, but centuries of collecting Doubloons and pieces of eight with a vast antique values. The American demanded them at below face value, there is much more but you would have to read a book. 'How we lost the war' It refers to our economy. There is no such thing as a 'special relationship' no at all! we were screwed 'gangster style!