THE MONEY CONFERENCE.

Kaikoura Star, Volume LXIV, Issue 59, 31 July 1944, Page 2

THE MONEY CONFERENCE.

WELLINGTON, July 26. “There is not the shadow of a commitment by anything done at Bretton Woods,” said the Minister of Finance (the Hon. W. Nash) when he was questioned at a press conference this evening on the proposals for an international monetary fund and a world bank. Mr Nash said it would be 'unfair to Parliament if he were to make a statement on the monetary conference before he had made his report to Parlianient. There would probably be brief reference to the proposals in the Budget, and later he would make his report. Mr Nash, however, did indicate his belief that the conference had been a major international achievement, because they had succeeded in getting 44 nations to argue out a formula to be submitted to their governments. The fact that Russia had opposed the figure of its suggested subscription to the world bank until, at the eleventh hour, it had dramatically accepted it, was better than if Russia had quietly accepted the final figure at first. There were no placid discussions at the conference, and no clever intriguing. They had argued and fought it out. “If the nations do achieve the purpose of the conference, nothing will be more potent in building up anti-war conditions,” said Mr Nash. “They will do that if they can carry out the spirit of the conference. ’ ’