RETURN TO GOLD?

Gisborne Herald, Volume LXXII, Issue 21759, 7 July 1945, Page 6

RETURN TO GOLD?

DANGER ALLEGED

BRETTON WOODS PLAN

UNITED STATES POLICY (P.R.) WELLINGTON. July 7. The Brelton Woods agreement was one of the most serious threats to the economic independence of the small nations and also some big countries; it was a threat to the independence of the British Empire and Britain herself, said Mr. C. M. Williams (Govt.. Kaiapoi) in the Address-in-Reply debate in trie House of Representatives yesterday afternoon.

Mr. Williams said the British Chancellor of the Exchequer. Sir Joint Anderson, had expressed a note of caution regarding the Bretion Woods agreement. He himself feared that it would lead to the restoration of the gold standard, which Air. Churchill, when Chancellor of the Exchequer, described ns largely the cause of the world-wide depression. In trio economic world no one country could be completely isolated from the mistakes of the greater nations, added Mr. Williams. The Bretion Woods agreement seemed to be aimed at maintaining the traditional United States policy of exporting American goods to all the world and importing only a few selected commodities which the Americans wished to select themselves. • New Zealand's duty was to herself and Britain, and the Dominion’s aim should be to maintain, as far as possible, trade with Britain. He felt everyone would admit that. Paying a tribute, to the work of the Prime Minister, Mr. Fraser, at the world security conference. Mr. Williams said it was the instinctive sense in the minds of most New Zealanders that Mr. Fraser had stuck up for the rights for small nations that had caused widespread appreciation of his actions at the conference. The maintenance of the sovereign independence of small nations was vital to world progress. - . ■ ■ ■ •