William Craig McNamara
Encyclopedia
William Craig McNamara was chief commissioner of the Canadian Wheat Board
from 1958 to 1970 and then a member of the Canadian Senate
.
He was born in Winnipeg, Manitoba but raised in Regina, Saskatchewan
and was called "Bill Mac" by his friends. He was instrumental in opening overseas markets to Canadian wheat
. In the 1960s, he led delegations to the Soviet Union
and the People's Republic of China
to negotiate wheat sales to those countries.
In 1923, McNamara found work with the Standard Bank of Canada
but left in 1924 to become an office boy with the Saskatchewan Wheat Pool
.
He joined the Canadian Wheat Board in 1942 and was appointed commissioner in 1955 becoming assistant chief commissioner in 1947 and then chief commissioner in 1958. He held that position until 1970 when he was appointed to the Senate where he sat as a Liberal
representing Manitoba
. He retired from the upper house
in 1979.
McNamara was known as a tough and stubborn trader in the wheat business. He built trading relationships abroad by visiting foreign customers and inviting them to visit Canada in return.
Under McNamara, wheat prices remained relatively stable, customers where guaranteed a fixed price for the life of the sale while the United States wished to sell its wheat on a sliding scale with the price fluctuating based on market demands. The difference in approach led to a complaint from the United States that Canada had pegged the world price of wheat.
McNamara argued that this policy kept prices stable and prevented the price from dropping sharply - the Wheat Board under his stewardship would also withhold wheat from the market when demand was soft in order to keep the price stable. "We are out to sell to the best advantage of the Canadian producer," he said. "This dominates our thinking; this is what we were created for."
Canadian Wheat Board
The Canadian Wheat Board was established by the Parliament of Canada on 5 July 1935 as a mandatory producer marketing system for wheat and barley in Alberta, Saskatchewan, Manitoba and a small part of British Columbia...
from 1958 to 1970 and then a member of the Canadian Senate
Canadian Senate
The Senate of Canada is a component of the Parliament of Canada, along with the House of Commons, and the monarch . The Senate consists of 105 members appointed by the governor general on the advice of the prime minister...
.
He was born in Winnipeg, Manitoba but raised in Regina, Saskatchewan
Regina, Saskatchewan
Regina is the capital city of the Canadian province of Saskatchewan. The city is the second-largest in the province and a cultural and commercial centre for southern Saskatchewan. It is governed by Regina City Council. Regina is the cathedral city of the Roman Catholic and Romanian Orthodox...
and was called "Bill Mac" by his friends. He was instrumental in opening overseas markets to Canadian wheat
Wheat
Wheat is a cereal grain, originally from the Levant region of the Near East, but now cultivated worldwide. In 2007 world production of wheat was 607 million tons, making it the third most-produced cereal after maize and rice...
. In the 1960s, he led delegations to the Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
and the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
to negotiate wheat sales to those countries.
In 1923, McNamara found work with the Standard Bank of Canada
Standard Bank of Canada
The Standard Bank of Canada was a Canadian bank established in 1873 as the St. Lawrence Bank by a group of Toronto businessmen led by J.C. Fitch. In 1876 it was renamed the Standard Bank of Canada following a reorganization, and under its new management it grew...
but left in 1924 to become an office boy with the Saskatchewan Wheat Pool
Saskatchewan Wheat Pool
The Saskatchewan Wheat Pool was a grain handling, agri-food processing and marketing company based in Regina, Saskatchewan. The Pool created a network of marketing alliances in North America and internationally which made it the largest agricultural grain handling operation in the province of...
.
He joined the Canadian Wheat Board in 1942 and was appointed commissioner in 1955 becoming assistant chief commissioner in 1947 and then chief commissioner in 1958. He held that position until 1970 when he was appointed to the Senate where he sat as a Liberal
Liberal Party of Canada
The Liberal Party of Canada , colloquially known as the Grits, is the oldest federally registered party in Canada. In the conventional political spectrum, the party sits between the centre and the centre-left. Historically the Liberal Party has positioned itself to the left of the Conservative...
representing Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
. He retired from the upper house
Upper house
An upper house, often called a senate, is one of two chambers of a bicameral legislature, the other chamber being the lower house; a legislature composed of only one house is described as unicameral.- Possible specific characteristics :...
in 1979.
McNamara was known as a tough and stubborn trader in the wheat business. He built trading relationships abroad by visiting foreign customers and inviting them to visit Canada in return.
Under McNamara, wheat prices remained relatively stable, customers where guaranteed a fixed price for the life of the sale while the United States wished to sell its wheat on a sliding scale with the price fluctuating based on market demands. The difference in approach led to a complaint from the United States that Canada had pegged the world price of wheat.
McNamara argued that this policy kept prices stable and prevented the price from dropping sharply - the Wheat Board under his stewardship would also withhold wheat from the market when demand was soft in order to keep the price stable. "We are out to sell to the best advantage of the Canadian producer," he said. "This dominates our thinking; this is what we were created for."