RESTORATION OF TRADE.

New Zealand Herald, Volume LIVIII, Issue 17684, 20 January 1921, Page 7

RESTORATION OF TRADE.

VIEWS OF SIR J. WARD. EXCHANGE BARRIERS MUST GO. A. -nd N.Z. LONDON, Jan. 18. Sir Joseph Ward, speaking at a luncheon given by the Australian Natives' Association, said the countries overseas were deeply interested in the tremendous difficulties through which Great Britain was passing. It was imperative that the world's exchanges should be put right. It was no use preaching an increase of eAports if the exporters were unable to get the money for their goods. Exchange conditions, so far as the Overseas Dominions were concerned, could not be rectified unless the authorities made a r.ew position for financial working. The articles which the Dominions produced were of prime necessity, and in order to resuscitate the business of Europe some system should be provided to enable the Continental countries to secure and pay for those products. Neither British nor overseas trade could be rectified until trade was restored with the Continent. Sir Joseph Ward added that no light or idle criticism should »be allowed to jeopardise the important part the League cf Nations might play in preventing a recurrence of war. Agitation should be maintained to bring every country within the scope of the League, even Russia, when Bolshevism, that deadly foe to Labour, had spent its force. Fear for the future Jed to large naval programmes, with their attendant over-burdening of the taxpayers. The sooner the Governments within Europe made up their minds that they would drop the control of commerce, and Britain realised that she could not maintain fictitious values, and decided to cut her losses the better it would be. It was also necessary for the welfare of the Overseas Dominions to stop the strangulation of manufacturers by the excess profits tax.