BRETTON WOODS
QUESTION OF AUSTRALIA'S ENDORSEMENT STRONGLY FAVOURED BY MR CHIFLEY (Rec. 8 a.m.) CANBERRA, March. M The case of Australia becoming a signatory to the Bretton Woods Agreement was placed before the Labour Party Caucus to-day by: Mr Chiffey. A decision by the caucus is expected ,to-night. The Prime Minister left no doubt in the minds of mauy members that his continuing. leadership was linked with- Australia’s (endorsement of the agreement. It is known that Mr Chiffey told the caucus that Australia should look at Bretton Woods in its simple elements and not trjr to read into ,it a sinister .complexity. Hte did not say it was perfect as a piece of machinery. Necessarily the scheme was experimental and capable of improvement.
Of all the dangers that beset international relationships, the greatest was the illusiort that any country, least of alt a small country, could stand apart in isolation.
Mr Chiffey said the benefits rto be derived from, the agreement were stable exchange., the freeing of convertible currencies, arid the end of the fantastic economic warfare that did incalculable harm during the 1930’5, and went far to cause the armed conflict of 1939.
The commission rose at 5 p.m. until to-morrow.
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Bibliographic details
Evening Star, Issue 26042, 5 March 1947, Page 7
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202BRETTON WOODS Evening Star, Issue 26042, 5 March 1947, Page 7
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