CURRENCY FIXING

Grey River Argus, 29 April 1944, Page 3

CURRENCY FIXING

Allied Proposals N.Z. 'NOT COM'MITTED. P.A. WELLINGTON, April 28. . Referring to an announcement made earlier in the week by United States authorities on a currency stabilisation plan, the Acting-Prime Minister, Hon. D. G. Sullivan, said, that some reports of that announcement, gave a wrong impression, namely, that some form of agreement had been reached between the Governments of the United Nations. actual uosition was, said Mr. Sullivan that technical experts of various governments had formulated a pla'n which they thought would work, and it was now being examined by the governments. It should be clearly understood, added Mr. Sullivan, that no Governments were in any way committed to the substance of the report. Because of the important part overseas trade plays in New Zealand s economy, New Zealand was very much concerned in any satisfactory scheme designed to give stability to world trade, and the closest attention would be given by the Government to the proposals now formulated and their relation to New Zealand. In connection with a report that President Roosevelt was expected to call an international monetary conference as soon as possible to embody nrincmles in a definite programme, Mr. Sullivan said that the New Zealand Government would expect to participate in such a conference, but he had the authority of Mr. Fraser to sav that New Zealand would, not make any agreement regarding international currency .or monetary policy until after there had been discussion in Parliament.