Dollars from Sale of Wool
The possible loss of dollars from purchases of Australian and New Zealand wool by European countries for re-export to the United States had been the subject of communication between the Australian, British and New Zealand Governments, with a view to safeguarding the dollar earnings from wool exported, said the Minister of Finance (Mr Nash) in a written reply to Mr T. L. Macdonald (Opposition, Wallace) in the House of Representatives yesterday. There was evidence that Australian wool had already been resold to the United States by European importers and possibly also some New Zealand wool. ' To safeguard New Zealand the Government had discussed the question with representatives of the New Zealand Woolbuyers’ Association and a procedure to be operated by the Reserve Bank, in conjunction with the Customs Department, had been arranged on a basis mutually acceptable to the woolbuyers’ representatives and to the Government. Individual woolbuyers had been informed of this. —(P.A.)
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https://paperspast.natlib.govt.nz/newspapers/GEST19481007.2.108
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Greymouth Evening Star, 7 October 1948, Page 10
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158Untitled Greymouth Evening Star, 7 October 1948, Page 10
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