N.Z. IMPORTS TO BE LIMITED TO VALUE OF N.Z. EXPORTS

Grey River Argus, 19 October 1948, Page 4

N.Z. IMPORTS TO BE LIMITED TO VALUE OF N.Z. EXPORTS

P.A. AUCKLAND, Oct. 18 The possibility of the British Government asking New Zealand, in 1949, to limit, as was done in 1948, her purchases to the value of her exports, was mentioned by the Minister of Finance, Rt. Hon. W. Nash, in addressing the annual meeting of the Auckland Manufacturers' Association. He said that he expected the same request to be made. The Minister also said that New Zealand was asked not to use dollars to an extent that she did not need to do so. They should be used only for essential, commodities and equipment. If they were used otherwise, New Zealand was limiting Britain’s opportunity to use them. This condition, he believed, would be maintained until two other great manufacturing countries, Germany and Japan, recovered.