STERLING BALANCES
PROSPECTS OF SCALING DOWN LONDON, August 7. “London correspondents apparently see little prospect of Australia’s or New Zealand’s acquiescence in the proposed scaling down of sterling credit balances,” says the Australian Associated Press. “Official opinion in London has consistently admitted the distinction between balances arising from commercial transactions and those accruing, as in the case of India and Egypt, largely from military expenditure. “Commentators nevertheless cling
to hopes that Australia and New Zealand will be willing to agree to some readjustments, both as a gesture to Britain and as a contribution to a fairer sharing of the war’s financial burden.”
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Greymouth Evening Star, 9 August 1946, Page 4
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102STERLING BALANCES Greymouth Evening Star, 9 August 1946, Page 4
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