N.Z. AND AUSTRALIA’S STIRLING

Grey River Argus, 22 September 1945, Page 5

N.Z. AND AUSTRALIA’S STIRLING

GIFT TO BRITAIN Su'ggesied by Americans I IN PLACE OF LEND-LEASE (Rec. 9.55). NEW YORK, Sept. 21. Lord Halifax and Lord Keynes presented to American financial officials a gloomy statistical account of depletion of Britain’s resources during the war. They claimed Britain’s contribution to the defeat of the Axis was considerably greater than America’s contribution relatively to their respective resources.

A New York “Times” correspondent at Washington said statistical documents were made available -to him by the British delegates, which made the following statements:— Taking' into consideration the different size and the resources of the two countries, the comparisons were;.—

(1) Britain’s total casualties were two and three-quarter times greater, in proportion, to those of the United States, and killed and missing three and a-half times greater; (2) British servicemen contributed twice many years as American servicemen; (3) there was threefold greater deterioration of British domestic capital, plants equipment, and non-war industries; (4) there were thirty-five times greater British foreign investments; (5) there were fifty per cent, greater British war expenditures. The correspondent said: It is not known whether the Americans accept these British war statistics. There is little doubt strong sympathy towards the general British thesis exists within the U.S. administration. American officials involved in the current negotiations were impressed with the fact that the British did not arrive in the manner of a supplicant with their hat in their hand, but rather as people proud of the cause for which they stripped the country’s resources, and thus appealing for aid as a matter of justice. The British statistics purport to demonstrate three basic British claims in support of an appeal for assistance, viz: (1) That Britain, considering her resources, contributed considerably more to an Axis defeat than the United States; (2) that, in terms of wear and tear on capital equipment, the British contribution was vastly greater; (3) that, quantitatively the United States LendLease contribution has been substantially greater than Britain’s mutual aid, but that the United States contribution will be negligible in its effect on America’s economy, while mutual aid had a considerable effect on Britain’s economy. Some American officials, viewing the British presentation as being based on an Allied partnership concept, felt it constituted an argument for proposals highly regarded in some quarters, namely, that, since the British Commonwealth was a very special kind of partnership in the total effort towards an Axis defeat, British Commonwealth countries should, as Canada already has done, either cancel all or part of their blocked sterling balances which they have piled up in London to their accounts. It was pointed out that Canada made a gift of her aid to Britain, whereas the other parts of the British Commonwealth have permitted balances, representing British external debt, to accumulate in London. It is argued that these blocked balances represent, for the most part, cost of supplies needed by Britain to prosecute war, and that Australia. New Zealand and' the others might, at least, cancel some of this indebtedness of Britain to them, thus providing a partial solution to the key problem.of the current Anglo-American negotiations. namely, how to translate a fair part of those' blocked sterling balances into dollars or other non-sterling purchasing power.

AUSTRALIA'S POSITION.

CANBERRA. September 19

The end of lend-lease might not interfere with Australian industry as much as was feared. A decision has been made that all orders placed before the cessation of lend-lease agreement, except those for war supplies, should now be allowed to comp through. Most of the goods however, might have to be paid for out of dollar resources. The decision means that a large number of tractors and quantities of other agricultural machinery would be sent to Australia to the previously arranged schedule.

Soviet More Hopeful

MOSCOW, September 17

M. Stalin told the United States House of Representatives delegation on post-war planning that Russia is interested in securing a loan of £1,500,000,000 sterling from America. He is reported to have sketched the Soviet’s great need for economic assistance, 'particularly from America. M. Stalin, discussing post-war treatment of the Japanese, said they should receive the same sort of handling as , the Germans were getting.

GENEVA, September 19. An official statement has been issued in reply to a press outcry for acceleration of a Nazi-Fascist purge. It says: “The Federal Attorney General to the middle of September has decreed the expulsion of 2867 persons. Of them 726 have already left. In addition the CaiT/jn governments have decided to expel 1539 Nazis and 278 Fascists.