SEARCH IS CONTINUED FOR KIDNAPPED SOLDIERS

Evening Star, Issue 26154, 16 July 1947, Page 5

SEARCH IS CONTINUED FOR KIDNAPPED SOLDIERS

OReq. 11 a.m.) JERUSALEM, July 15. Police and military forces combing Nathanya, which is under military rule during the search for the two kidnapped British Army sergeants, caught two wanted Jewish terrqrsits and.oß suspects. Seme „ 1,?0Q people were screened. old sterling balance to pay for purchases in Britain; secondly, to ensure that overseas countries do pofi use Sterling receipts to buy dollars and then rim out’ of sterling whe.n . they conie to pay for their purchases ' in, Britain. ; > “This has been'covered partly by informal assurances, pud partly,, by monetary agreements;'. which compel the country concerned to pay ff’£ in sterling or, beyond a fixed amount, in gold.” says the 1 Guardian.’ “ As the result of this necessary arrangement most eoun. , tries which have dose trade relations with the sterling area will' apply exchange restrictions towards their own nationals. The individual earner of ' Sterling abroad may not, therefore, be allowed to spend his pounds on an 'American motor car.

“.American exporters whose hopes have been raised unduly may well be disappointed when they come up agaumt such regulations, which are pot of British making. “ But while not all, exchange restrictions will vanish from the earth to-day, the. special protection which our own trade has enjoyed in the sterling area will largely disappear. We shall be exposed to competition in price and quality and in delivery times as well as before we are fully prepared for the struggle, The outcome will be awaited with ansiety as well an hope,” “ MUST EXPORT OR BUST.” Another comment is; “ The new situation puts Britain more than eveh on her mettle; If the pounds earned by other countries can be spent anywhere they will be only spent here if we make and offer the right goods at the right prices. “ If we do not those pounds will bq spent elsewhere—they will bo ‘ converted 1 into dollars or Swiss, French, or some other currency. That will mean that our gold and dollar reserves will vanish even more rapidly than at present. To-day’s move is, therefore, another reminder, that Britaip must 4 export or bust.' .