TRADE TALKS

Wanganui Chronicle, Volume 83, Issue 187, 10 August 1939, Page 7

TRADE TALKS

MR. NASH IN U.S.A. Hope For Reciprocal Treaty LOAN RUMOUR DENIED RAISING OF LOAN IN NEW YORK [By Telegraph—Press Association—Copy right) Received Aug. 9, 7.35 p.m. WASHING IOIN, Aug. 8. The New Z aland IVimist,. r of Finance, Mr. Nash, conferred with the Acting Secretary of Uw Treasury, Mr. J. \V. Hanes, resulting in rumours that possibly th’*y discussed, with the approval of the Securities and Exchange Commission, the subject of New Zealand’s raising money in New York. Mr. Nash, however, denied this. He declared that they discusseu general business conditions in New Zealand and the United States and common taxation problems, and saici that he was to confer later with Mr. Sumner Welles, Under-Secretary o, State, concerning a reciprocal traue treaty, “renewing the conversations I had here in 1937 when it was impossible to conclude a treaty until the discussions between America and the United Kingdom had been concluded." He added that he did not expect immediate results but he expressed the opinion that the conversations ultimately would lead to a reciproca l treaty. It was reported later that Mr. Nadi had conferred with Mr. Sumner Welles for 40 minutes and also had had a long conversation with the new Assistant-Secretary of State, Mr. Henry Grady, who is in charge ol trade agreements. Later, Mr. Grady revealed that he and Mr. Welles had exchanged views with Mr. Nash on the problem of reducing New Zealand’s unfavourable balance of trade with the United States, and said they hau discussed potential channels whereby this could be accomplished either in or beyond the terms of a possible reciprocal trade agreement. Referring to the air service by PanAmerican Airways to New Zealand, he said the Dominion would welcome its inauguration. It would bring New Zealand into closer friendly contact, with the United States, while the way would be left clear for extension of British air lines. Referring to his visit to Europe, Mi. Nash remarked: "Nooooy knows what will happen. I think there is an even chance of war. Certainly I hope fate will prevent it." Mr. Nash will go to Canada this afternoon to confer with Canadian officials for several days.