RETURN FROM OVERSEAS

Otago Daily Times, Issue 26479, 5 June 1947, Page 8

RETURN FROM OVERSEAS

MR NASH REPORTS

U.S. TRADE POLICY DISCUSSION OF PROBLEMS P.A. WELLINGTON. June 4. The United States had a major role to play in the next decade in connection with the whole structure of world trade, world production and world living standards, but she could not play that role successfully if her objective was to get tariffs down in other countries to the same extent as she reduced her own tariffs, said the Minister of Finance, Mr Nash, at a press conference this afternoon after his return from a trip in which he attended four international conferences. Mr Nash said the United States would have to find means of taking more imports as she increased her exports. New Zealand’s problem in regard to trade with the United States. Mr Nash said, would be three parts solved if the United States were prepared to take goods to pay for those surpluses of her own production which she sought to get rid of. It was true that in recent years our exports to the United States had increased, but not to a sufficient extent. Our only ultimate source of dollars was the goods we could sell for dollars because we would not contract overseas debts to meet our requirements of dollar goods. Mr Nash said the magnitude of the problem for world trade as a whole was emphasised by the fact that the United States last year produced goods valued at 210 billion dollars, but while her exports totalled 16 billion dollars, hes imports were only 8 billion dollars. V The Wool Bill Referring to the effect of the United States Wool Bill upon current trade talks at:.Geneva, Mr Nash said the United States ‘wool tariff was most important to Australia,’ South Africa, and New Zealand; although New Zealand was not affected to such a great extent as Australia because part of New Zealand’s wool export to the United States consisted of carpet , wools, which were duty free. The three wool exporting dominions hoped the Bill would at least be modified, for the effect of the Bill, if passed in its original form, would be very serious. “ The atmosphere at the Geneva discussions has been as good sis it could be, except that the wool-producing i countries think the United States has got to do something in regard to the wool tariff,” Mr Nash said. A substantial measure of agreement, as .to the concessions which could be made to other countries was reached at British Commonwealth discussions held in London before the Geneva talks opened. There had been further British Commonwealth discussions at Geneva, and in these latter talks New Zealand had set out very clearly her views that tariffs and subsidies were not enough to protect partly-developed and undeveloped countries, and he thought there was finally a large measure of agreement with New Zealand’s views.

Mr Nash said he believed that bilateral as well as multilateral agreements must emerge from the discussions still 'proceeding at Geneva, but he considered that the principles of the trade charter were of greater importance than tariff negotiations. He had attended for one day the conference at Lausanne of the International Refugee Organisation, to the constitution of which New Zealand was a party, Mr Nash said. In London he had numerous discussions with Sir Stafford Cripps to determine what supplies could be made available from Britain for New Zealand’s manufacturers and other; industries. would help to her utmost, hut her need for hard currencies might create some difficulty. Mr Nash said he had discussed with the United Kingdom Government and also- with the Indian delegation at Geneva India’s desire to buy some butter from New Zealand. Butter Prices Questioned about future butter prices, Mr Nash said New Zealand had no intention .of pushing Britain hard, but if our competitors, especially the Danes, continued to receive increases in price for their product, we might have to ask for some adjustment. So far, however, he had had no more than preliminary discussions with the British Food Minister, Mr John Strachey, as to the price for our next season's butter export. It was non-

sense, said Mr Nash, to speak of the people of .Britain as. starving, but they had a slender margin in food supplies and it was the irritation of queueing up and the monotony which affected the people. He had found, however, that the people of Britain, France and Switzerland were better off than during the war. Britain was still very strong and the British system and way of.Jife—by that he did not mean imperialism—throughout the world depended to-day on the working man in Britain. The crux of Britain’s problem was coal and miners were responding excellently in spite of the fact that there was never an industry in a worse muddle than was the coal industry when the British Labour Government took office.

“I never found a better spirit in Britain than on this visit,” said Mr Nash, who mentioned that he saw no hope in world food prospects of any early let-up in British rationing and therefore no likelihood of an easing of the present rationing in New Zealand.

We were achieving tremendous credit in Britain for our assistance with parcels and by other means, Mr Nash discussed his participation in the New York Conference of the Social and Economical Council and said that in the important mttaer of full employment, New Zealand had urged that a full study of the problem had already been made and that action was needed. Partly as a result of New Zealand’s advocacy, a resolution was adopted which should enable the secre-

tariat to take some action to promote high and increasing standards of employment. Mr Nash said he believed the objective of improving living standards throughout the world was the most important task of UNO, surpassing even the responsibility of the Security Council in avoiding war. The value of the trade discussions • was to further this end or raising living standards by the facilitation of the exchange of goods on a world-wide basis. The Children’s Fund Another important matter discussed by the New York conference was the proposal that the emergency children’s fund should be aided by a world-wide, collection of one day’s pay later this year from all persons willing to assist. It had been estimated that millions of children might die if they were not aided within the next 12 months and Mr Nash said he had asked for precise information as to the degree of aid needed in various countries. He believed that if. this factual information he had sought could be made available, the response to the appeal would, be far greater. He had given an assurance that the New Zealand Government would assist the project to whatever extent could justly be expected of it. Mr Nash said the New Zealand Government had taken offices on the sixth floor of the Empire State Building, New York, which would be. occupied by our delegates to UNO and also by our consul-general, who had moved there from the office he had previously occupied. ' Speaking of his visit to Canada on the way home, Mr Nash said he had been erroneously reported as being the director of a large Canadian aluminium concern which was interested in the practicability of aluminium production in New Zealand.' The mistake arose from the fact that a Mr Nash, who was a director of .the company, was going to make a survey visit to New Zealand. Mr Nash paid tribute to the members of his staff and the other New Zealand delegates to the Geneva talks.

In 14 weeks’ absence from the Dominion, Mr Nash travelled 28,974 miles, spending 150 hours in the air.