STERLING BALANCES

Grey River Argus, 22 May 1947, Page 5

STERLING BALANCES

Mr Fraser Criticises Arab Countries P’.A. CHRISTCHURCH, May 21. Deep regret that certain countries were taking up the attitude that 'they were going to squeeze Britain for every penny that she owed, without any consideration for what Britain had done for them, was expressed by the Prime Minister Rt. Hon. P. Fraser, in his election address at Linwood this evening, when he referred to the scaling down of Sterling balances. Mr Fraser said that Egypt and Iraq were examples, although there were others that could be mentioned. If it had not .been for Britain, Mussolini would be ruling in Cairo to-day, and Hitler would! be astride Iraq. After Dunkirk, Britain, with only the Dominions beside her, had held the pass for mankind. There was a thoughtlessness, not unmixed with ingratitude, in the attitude these countries were taking at the moment. Britain was in a difficult position, said Mr Fraser, but New Zealanders should not join in the stupid cry that she was “down and out.” ' £ If Britain went down, economically, New Zealand would follow. Britain never would be down and out.