COMMONWEALTH DOLLAR TALKS

Press, Volume LXXXIII, Issue 25309, 8 October 1947, Page 7

COMMONWEALTH DOLLAR TALKS

Trade Programmes Reviewed FINAL SESSION IN LONDON (N.Z. Press Association—Copyright) (Rec. 8 p.m.) LONDON, October 6. The British Treasury, after a final general session with the Dominion delegates to the dollar talks in London, announced that the talks covered the question of expenditure in hard currencies to the end of June, 1948. “In view of the present heavy drain on the sterling area’s reserves, the import and export programmes of the united Kingdom and the other countries concerned were reviewed,” said the Treasury. "The discussions emphasised the importance to the sterling area of the central reserve system, which has served so well for so many years. “The delegates will now report to their Governments, which will decide What reductions in hard currency expenditure are possible and what other action they may take to strengthen the sterling area’s gold and dollar reserves. “The delegates agreed that there was need for continued close consultations, and arrangements were made for the regular exchange of information.” The Chancellor of the Exchequer (Dr. Hugh Dalton) presided at the final talks. The countries represented were New Zealand, Australia. South Africa, Eire, India, Pakistan, Southern Rhodesia, Burma, and Ceylon.