N.Z. TRADE WITH JAPAN

Grey River Argus, 28 July 1941, Page 4

N.Z. TRADE WITH JAPAN

STOPPAGE ANNOUNCED By Acting-Prime Minister [Per Press Association] WELLINGTON, July 27. “As the people of the Dominion are aware, the military occupation of strategic bases in Indo-China by Japan is a matter of grave moment to the countries in the Pacific,” declared Hon. W. Nash, in a statement to-night. “The United States has reacted against this Japanese southward move by freezing the Japanese assets. The United Kingdom and other Governments of the British Commonwealth are taking parallel action.

“In presenting their demands for the military occupation of bases in Indo-China, the Japanese made it plain that they were prepared to use force, if necessary; and the fact that the Vichy Government has acquiesced without making a show of resistance does not alter the fact that naval and military bases which are being occupied now are in reality being taken under duress. “Under the circumstances, the response of the Government ot the British Commonwealth and the Unite.! States has been immediate. With these reactions the New Zealand Government is in total agreement, however reluctant we may be to interfere in normal trading relations. “I have, therefore, to announce that New Zealand is taking parallel action with the other Governments of the British Commonwealth. Notwithstanding that a permit or an exchange authority may al readv have been issued by the Reserve Bank, no remittance to any country in respect of any trade or other transaction with the Japanese Empire, or by, or on behalf of, any Japanese national or Japanese-controllea firm may be made without prior confirmation from the Reserve Bank. These measures are applicable to Manchuria also. “It is regarded as of assistance to China that this should be done. The requirement outlined will not necessarily result in the complete stoppage of exchange transactions. In order to co-operate with other British Commonwealth Governments and the United States, it is desirable that every transaction, including those already initiated, shall be carefully reviewed. The restriction on remittances is operative immediately. “Though effect may be almost a complete stoppage of trade with Japan, at least for the time being, 't is not proposed to cancel the existing import and export licenses. “Another step taken concerns our trade treaty with Japan of 1928. New Zealand concluded, by an exchange of notes, an arrangement whereby the Japanese and New Zealand Governments engaged to accord the other most-favoured-nation treatment. Notice has been given to-day to the Japanese representative in‘New Zealand that this will no longer be accorded after the expiration of the three months’ notice provided for in the 1928 arrangement.”

Australian Action

AGAINST JAPAN’S ASSETS. (Rec 7.0) MELBOURNE, July 27 The Prime Minister. Rt. Eon. R. G. Menzies, has announced that Australia s policy in regard to Japanese credits wou.'d be brought into fine with that of Britain and the United States. The Japanese cred.ts would thus be frozen by the Government. The Prime Minister pointed out that the Japanese credit balances'in Australia have already , been frozen under the Exchange Control Regulations for some time past, and stated that any commercial transacnonrwith Japan had been conducted or. a sterling .or a dollar basis. AUSTRALIA’S ACTION. (Rec. 12,55). MELBOURNE. July 2 T Rt. Hon. R G. Menzies said to-day: “The Japanese balances in Australia had been frozen before that action, was taken by Britain and the U.S.A. 'Some time ago. then- was action under the Exchange Control Regu.ations, and commercial transaction; with Japan have since been conducted on a ster..ns or dollar bas’s. No new regulations are required to provide machinery here in conformity with that now existing m the rest ol the British Empire and Unite! States. To meet the position created by the freezing order, notification will be iven to Australian banks under the exist’ng exchange regulations.”

Warning for N.Z. PRIME MINISTER’S REMARK.

(Rec. 9.30). LONDON, July 26. Rt. Hon. P. Fraser, New Zealand Prime Minister, has visited Lancashire.

“I will tell New Zealanders about, the indomitable courage and unconquerable spirit of the people of this country,” said Mr. Fraser, after touring Manchester. He added: “Before long, hell may be let >oose upon New Zealand. Our people will fight, to the last to save their native land.’’ MR. FRASER AT LIVERPOOL. (Rec. 9.10). LONDON, July 26. Rt. Hon. P. Fraser, visited Liverpool. He was escorted through the blitzed sections of the city ’by Mr. Sydney Jones, .and R. J'. Hodges (Sec-retary-Manager of the Mersey Dock Harbour Board). •

The dockers paused to cheer Mr. Fraser while they were unloading a consignment pf New Zealand mutton.

Mr. Fraser later visited the Overseas League Empire Forces’ Club. Large crowds cheered Mr. Fra'ser when he reached the Town Hall. Mr. Fraser, escorted by Messrs Dwell? and Giles Scott, was shown over the Liverpool Anglican Cathedral. Mr. Dwelly remarked that it. was the first time'that Mr. Scott had been interested enough to escort visitors.

Mr. Fraser ha'd a conference with the following New Zealanders: — Messrs R. S. Forsyth, H. E. Davies, S. S. Arthur, H. S'. E. Turner and George Duncan, on the subject of Dominion trade.

(Rec. 1.30) LONDON,-Julv 27. Rt. Hon. P. Fraser, yesterday morning toured the more seriously bombed areas of Manchester. He was frequently cheered by groups of factory workers and householders. He talked with women and children in a badly damaged area of the poorer section, where he was cheered for his encouraging words. He was informed: “We artn’t down-hearted!’’ For thirty minutes Mr Fraser was bombarded with questions by a dozen pressmen, who were keenlv interested' in New Zealand, and the topics connected with the war effort. After lunching with the Lord Mayor of Manchester he visited an aerodrome. Mr Fraser to-day motored to Glasgow.