STERLING BALANCE
Increase Not True Picture, Says Mr. Nash REPLY TO SUGGESTION OF MORE IMPORTS (By Telegraph—Press Association.) AUCKLAND, May 13. “I have issued import licences, or given authority for them to be issued, for every penny of the money we can see.” said the Minister of Finance, .Mr. Nash, in an interview, replying to recent suggestions that, because of the increase in New Zealand >s sterling balances, greater imports should be permitted. The rise in the Dominion’s sterling balance from about £9,000,000 to some £23,000.000 did not give a trite picture, the Minister said. Though the position was now better than it was last year, there were three reasons why the figures did not give a completely accurate view. The first was that New Zealand 'had been paid for her exported produce, or for 90 per cent, of it, about three months earlier than would have been the case in normal times; secondly, there were a lot of goods on order that could not be delivered because of the war; and finally the present part of (lie year was the period in which New Zealand always built up her funds overseas.
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Bibliographic details
Dominion, Volume 33, Issue 195, 14 May 1940, Page 8
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192STERLING BALANCE Dominion, Volume 33, Issue 195, 14 May 1940, Page 8
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