MR NASH’S VISIT TO LONDON

Press, Volume LXXV, Issue 22727, 3 June 1939, Page 15

MR NASH’S VISIT TO LONDON

“DIFFICULTY LIKELY TO BE MET” TRADE AND FINANCIAL DISCUSSIONS N.Z. CREDIT NOT IMPROVED BY EXCHANGE CONTROL (UNITED PRESS ASSOCIATION—COPYRIGHT.) (Received June 2, 10.30 p.m.) LONDON, June 2. “The Times,” in a leading article on the visit of the New Zealand Minister for Finance (Mr Walter Nash), says:— “The trade and financial discussions are likely to present difficulties. Many British manufacturers resent the exchange control as a violation of the Ottawa Agreement. They believe it will break down and cause a good deal of mischief. “Also they are not satisfied by Mr Savage’s and Mr Nash’s assurances that the reduction of trade is not permanent. “It is not denied that New Zealand has the right to adopt any economic system she desires, but it is contended that she should have greater regard for the interests and treaty rights of her best customer. “The controversy has not improved New Zealand’s credit on the London market, and Mr Nash is likely to find difficulty in negotiating the conversion of the £17,000,000 loan on favourable terms.”