BRITAIN’S NEED

Gisborne Herald, Volume LXVII, Issue 20185, 1 March 1940, Page 5

BRITAIN’S NEED

EXPORT EXPANSION ENCOURAGING GROWTH APPEAL TO DOMINION BUY FROM ENGLAND (Per Press Association.) AUCKLAND, this day. “On the maintenance of Britain’s financial strength the whole British cause depends,” said the High Commissioner for the United Kingdom. Sir Harry Batterbee, in a luncheon address to the Auckland Chamber of Commerce. “To do this, it is absolutely essential that Britain’s export trade be maintained, and it is equally essential that British countries overseas send to the United Kingdom all possible primary products. * “The position is encouraging and is better than in the last war,” Sir Harry added. “For the first two months of the present year the United Kingdom exports have exceeded, although only slightly, the exports for the corresponding months in the last two years.” On the other hand, Sir Harry said, there had been a great increase in the value of imports entirely for war purposes. This adverse balance showed the urgency of the need to increase exports still further. He trusted that all the goods for which they had money would be imported from Britain. Foreign Currencies At thd present time the United Kingdom was compelled to make very large purchases of goods in foreign currencies, especially dollar currencies, and every possible step was necessary to conserve exchange. It was necessary to restrict the imports of many commodities which the people of the United Kingdom were accustomed to import. Among them was petrol, and he would like to say the people of Britain greatly appreciated the measures that New Zealand was taking to share this burden. It should be made clear that petrol rationing in the United Kingdom was considerably more severe than in this counfry. He read in a letter recently that in England to-day petrol was more precious than champagne. While the United Kingdom must ever keep in the forefront, the need to expand exports to all parts of the world, the promotion of inter-imperial trade remained equally her object. Britain was 1 buying the bulk of the New Zealand exportable surplus and, by reason of the common necessity for conserving foreign exchange, it was to be hoped New Zealand would look more tlian ever to the United Kingdom to supply her needs in return.