CONTROL OF IMPORTS

Poverty Bay Herald, Volume LXI, Issue 18504, 17 September 1934, Page 7

CONTROL OF IMPORTS

NEW GERMAN DECREES BRITISH EXAMINATION PROBLEM OF FINANCE 1 (British Official Wireless.) Rec. 10 a.m. RUGBY, Sept. 11. Tho effect of the recent decrees issued by the German Minister of Economics has been subjected to a closo examinat ion, with particular reference to the bearing of the AngloGerman exchange agreement, which came into operation on August 20. In accordance with the decrees, full control will he exorcised over all imports into Germany from September 24. The machinery for operation and control provides for estimates being made in advance of the amount of foreign exchange likely to be available each month, and the limitation of that month’s imports will be strictly controlled by the issue of permits, so that the payments may be met within the estimate. Two important changes are introduced by the now system. Firstly, control applies, not only, as in the past, to raw materials, but to imports generally. Secondly, the new machinery will involve the abolition of the general exchange permits which formed the basis of the recent AngloGerman agreement. Tho Foreign Office 'announces that it has been agreed between the British and German Governments that a delegation headed by Sir Leith Ross shall proceed immediately to Berlin to instigate discussions on the commercial and financial relations ot the two countries as affected by the new German machinery for the control of imports and the allocation of foreign exchange.

'l’he cotton, wool, and coal industries have appointed a deputation to see Mr. Walter Runciman, president of the Board of Trade, regarding Germany's debts.