NAURU PHOSPHATES

Grey River Argus, 24 September 1932, Page 5

NAURU PHOSPHATES

BRITAIN DISSATISFIED. (Aus. & N.Z. Cable Assn). LONDON, September 22. When the British Commissioner Lodge, presents thc report of his visit to Nauru, there is likely to be close examination of Australia’s and New Zealand’s advantages in paying for phosphates with depreciated curren-

The Parliamentary Public Accounts Committee’s report shows the z position was lengthily investigated at one session, at which if was suggested that Britain should make an exchange! profit of fifteen shillings in -every two pounds purchased. It was admitted the cost w as too high for Britain to use supplies. The Committee’s report expresses the opinion that the position is in equitable, and hopes an arrangement will be made fairer to Britain, both in the form o f accounts and the price i paid for the output, instead of regarding all currencies as having identical [ values.