MR. NASH'S AIM.

Auckland Star, Volume LXX, Issue 141, 17 June 1939, Page 7

MR. NASH'S AIM.

AGREEMENT WANTED.

Spend Proceeds Of N.Z. Exports In Britain.

AFTER PAYING DEBTS. Diiited Tress Association. —Copyright.

(Received 2.30 p.m.> LONDON. June Itf. Mr. Walter Nash, addressing the London Chamber of Commerce, said he wanted to make an agreement with the British Government to ensure that- the proceeds of New Zealand exports, after deduction of ilehl charges, would he spent in Britain.

If Nov Zealand was not helped it. might be neces»arv to nil imports further, which would ln> hanufiil hoi h t.i Britain ami New Zealand. He admitted there had hoon a breach of the letter of the Ottawa Agreement, bin that was due to the iiere.—-ity of meeting debt. Britain iuu<t do her part and cannot -iinultaneuu-lv lia\e debt paid and llond New Zealand with uood-. e-pecially when def.Miee expenditure in the current year would he tip between £1 .ooo.oou and £2.000,000. and may even be greater. Mr. Xash was accorded a most favourable reeeption. but the good impres-ion created was weakened by suhseip-.ent speakers, who eontended that il was open to Xew Zealand to solve her problems as Australia had solved Inns. SUFFER SEVERELY. New Zealand Stocks On London Market. CRISIS AFFECTS BUSINESS. (Received 2.30 p.m.) LONDON. -Tune 10. The Far Eastern erisis has strikingly revealed the lack of stamina in the recent recovery of the markets. While pressure to sell is -light an almost complete absence of buyers has caused a sharp all-round fall of prices. Giltedged stock finished weakly, partly owing to the necessity of absorbing large amounts of Australian scrip, which also reacted unfavourably on Dominion

Xcw Zealand stocks have suffered severely as the country's predicament is becoming more generally known. Uneasiness concerning Germany's intentions in Slovakia and Danzig adversely has affected Central European issues. Chinese and Japanese bonds have been sharply marked down. '•Bullish"' trade talk has not helped domestic i~-ues. luni-t of which are 1/ to 2/ down on the week. BRITISH FARM BILL. Government And Mr. Nash's Arguments. N.Z. POLICY QUOTED. LONDON". June 10. Speaking in the House of Commons on the second reading of the Agxicultural Development Bill. Mr. J. C. Wedgwood (Lab., Newcastle) said Government members advanced much the same arguments as Mr. Xash. He added: ''I hope, that when embarking on a course similar to that of the Labour Government of New Zealand, they will be equally successful in raising the standard of comfort. I hope also that they will survive the inevitable fate of all such schemes, namely, inflation and losing on the swings what we gain on the roundabouts." Mr. Tom Williams (Lab., Yorkshire) said New Zealand had taker, the Rritisii lamb market. Unless British farmers produced something comparable to the Canterbury product, they would everlastingly be seeking bigger subsidies. The bill was read a second time by •220 votes to 119.