LEASE-LEND PROCEDURE
(P.A.) CHRISTCHURCH, Monday. Reference to the effect of the leaselend procedure on New Zealand's sterling funds was made by LeadingAircraftman A. F. Moncur, M.P., in an address to the Christchurch Businessmen's Club. He suggested that it might make it necessary to raise loans in London and give the Reserve Bank power to issue notes to pav New Zealand farmers. Mr. Moncur said that lease-lend procedure was a fine thing, and under its provisions New Zealand had obtained much equipment for defence. But there was another side to it. In return New Zealand was supplying goods to the American forces in the Pacific. That meant a reduction in the amount New Zealand could export, which would mean a reduction in sterling funds in London. In his speech at Christchurch, Mr Fraser, discussing lease-lend, said New Zealand's position might become a serious one, but he had the faith in Great Britain to know that the Dominion would come to a perfect understanding with her.
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Bibliographic details
Auckland Star, Volume LXXIV, Issue 33, 9 February 1943, Page 3
Word Count
164LEASE-LEND PROCEDURE Auckland Star, Volume LXXIV, Issue 33, 9 February 1943, Page 3
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