Empire To Continue Measures To Bridge Dollar Gap

Gisborne Herald, Volume LXXVII, Issue 23366, 23 September 1950, Page 7

Empire To Continue Measures To Bridge Dollar Gap

(11a.m.) ' LONDON, Sept. 22. The Commonwealth Ministers, whose conference concluded in London today, issued a communique in which they emphasised their determination to preservere in measures which would increase the sterling area’s dollar earnings. whether by exports or by the provision of dollar-earning services. The communique added that the Ministers had examined the possibility of increasing the Commonwealth supplies of newsprint. There had also been discussions on the importance of the continued supply from Britain to other Commonwealth countries of capital equipment and other goods needed for economic development.

The communique said that Britain’s defence programme was not expected to result in any falling off of British exports to the rest of the Commonwealth.

The Ministers had also reviewed developments in the balance of payments of the sterling area since the meeting of the Commonwealth Finance Ministers last year .including the measures adopted following the meeting. The Ministers "noted with satisfaction the improvement in the dollar position and agreed that the restoration of the central gold and dollar reserves of the sterling area to an adequate level remained of great importance.”