STABILIZATION OF CURRENCY

Southland Times, Issue 25350, 29 April 1944, Page 4

STABILIZATION OF CURRENCY

Plan Being Examined

(P.A.) WELLINGTON, April 28. Referring to an announcement made earlier in the week by the United States authorities on a currency stabilization plan, the acting Prime Minister, the Hon. D. G. Sullivan, said today that gome reports of the announcement gave a wrong impression that some form of agreement had been reached between the Governments of the United Nations. The actual position was that technical experts of the various Governments had formulated a plan which they thought would work and it was how being examined by the Governments. It should be clearly understood, aflded Mr Sullivan, that no Governments ‘ were in any way committed to the substance of the report. Because of the important part overseas trade played in New Zealand’s economy, New Zealand was very much concerned in any satisfactory scheme ■designed to give stability to world trade, and the closest attention would be given by the Government to the proposals now formulated and their relation to Mew Zealand. , Referring' to ’ a report that President Roosevelt was expected to call an international monetary conference as soon as possible to' embody the principles in a definite programme, Mr Sullivan said (the New Zealand Government would expect to participate in such a conference, but he had the authority of Prime Minister to say that New Zealand would not make any agreement on international currency or monetary policy until after a discussion in Parliament.