SINEWS OF WAR

Otago Daily Times, Issue 24236, 1 March 1940, Page 6

SINEWS OF WAR

THE ECONOMIC FRONT BRITAIN’S EXPORT TRADE IMPORTANCE EMPHASISED (Per United Press Association) AUCKLAND, Feb. 29. “On the maintenance of Great Britain’s financial strength the whole British cause depends,” said the High Commissioner for the United Kingdom, Sir Harry Batterbee, in a luncheon address to the Auckland Chamber of Commerce today. “To do this,” Sir Harry added, “it is absolutely essential that Britain’s export trade be maintained and it is equally essential that Bri-

tish countries overseas should send to the United Kingdom all possible primary products. The position is encouraging and is better than in the last war. Buy from Britain “ For the first two months of the present year,” Sir Harry said, “ United Kingdom exports have exceeded, although only slightly, the exports for the corresponding months in the last two years.” On the other hand, there had been a great increase in the value of imports entirely for war purposes. This adverse balance showed the urgency of the need to increase exports still further. He trusted that all goods for which they had money would be imported from Britain at the present time. Sir Harry said that the United Kingdom was compelled at present to make very large purchases of goods in foreign currencies, especially dollar currencies, and every possible step was necessary to conserve exchange. It was necessary to restrict the imports of many commodities which the people of the United Kingdom were accustomed to import. Among them was petrol and he would like to say that the people of Britain greatly appreciated the measures New Zealand was taking to share this burden. It should be made clear that petrol rationing in the United Kingdom was considerably more severe than in this country. He read in a letter recently that in England to-day petrol was more precious than champagne. A Common Necessity While the United Kingdom must ever keep in the forefront the need to expand exports to all parts of the world, Sir Harry added, the promotion of interimperial trade remained equally her object. Britain was buying the bulk of New Zealand’s exportable surplus and by reason of the common necessity for conserving foreign exchange it was to, be hoped New Zealand would look more than ever to the United Kingdom to supply her needs in return.