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BRETTON WOODS' EFFECTS

it The uncertainty of the trade outlook ji was stressed by Mr. Percy Tingey, chair- ;s man of R. and E. Tingey, Ltd., at the '[ annual meeting of the company in Wei- if lington. He said that the Bretton Woods if Agreement was of such potential evil j[ that controlled inflation would be ham- ;| j strung and the trade, commerce and >; industry of Great Britain would be sacri- !£ ficed to the financial interests of Wall If Street. In Mr. Tingey's opinion, the ; very opposite of what the Bretton Woods Agreement set out to accomplish, viz., « to stabilise New Zealand's exchange and fj facilitate fhe trade of those countries devastated by war, will be frustrated due 'I to the deflatory aspect that will govern, jj sterling owing to the power of the ■; dollar. Sir John Anderson had stated publicly that high prices must remain | high flue to high and higher taxation, so jf that if sterling was deflated a sorry out- Jj : look for New Zealand's attachment to ji sterling would follow, and the world would slide into one of the worst slumps ;> J known.

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Permanent link to this item

http://paperspast.natlib.govt.nz/newspapers/AS19450730.2.31.6

Bibliographic details

BRETTON WOODS' EFFECTS, Auckland Star, Volume LXXVI, Issue 178, 30 July 1945

Word Count
187

BRETTON WOODS' EFFECTS Auckland Star, Volume LXXVI, Issue 178, 30 July 1945

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