For many decades since 1938, the Bank of Canada provided near interest free loans to the Canadian government. As a result of these loans, Canada had increasingly become prosperous and developed quite substantially, with the money created being used to build highways such as the McDonald-Cartier freeway, public transportation systems, subway lines, airports, the St. Lawrence Seaway, funding the universal healthcare system, and the Canadian Pension Plan. The effects of King’s decision would last all the way until 1974, when the Trudeau government made the decision to halt the borrowing of money from the Bank of Canada, and instead, choosing to borrow from the private banks at compounded interest.