DOLLAR SHORTAGE

Gisborne Herald, Volume LXXIII, Issue 22199, 9 December 1946, Page 7

DOLLAR SHORTAGE

KEY TO BRITAIN’S RECOVERY HIGHER FARM OUTPUT LONDON, Dec. 6. The success of Britain’s export drive is likely to reduce the estimated trading deficit but Britain’s central problem is still the shortage of dollars, said the Chancellor of the Exchequer. Dr. 11. Dalton, addressing the Guild of Agricultural journalists. Dr. Dalton presented the problem as a challenge .to the farmers of Britain. Could they, he asked, raise productivity so as to relieve the drain on dollar resources and at the same time compete with overseas producers and also provide a full standard life for all persons working on the land. Dr, Dalton paid a tribute to the farmers for producing, compared with before the war. three times as much barley, wheat and oats, twice as many potatoes and much more milk, but the Chancellor of the Exchequer reminded them that the Treasury was spending £1.000,000 a day in subsidies to keep down costs to the consumers, including £180.000.000 annually for homeproduced food. Dr. Dalton warned that high costs might lead to reviving the danger of a split between the farmers and the taxpayers. The partnership could not survive if overstrained.