CURE FOR BRITAIN’S ECONOMIC PLIGHT REQUIRES SACRIFICE

Wanganui Chronicle, 17 July 1947, Page 6

CURE FOR BRITAIN’S ECONOMIC PLIGHT REQUIRES SACRIFICE

The solution of Britain’s economic plight by the scaling down of the Dominions’ sterling balances after which the four Dominion Prime Ministers could seek a similar pro rata sacrifice from President Truman and, in turn, could then approach India and Egypt and the other holders ol big balances for scaling down, was made by Mr. J. D. McMillan when he addressed a public meeting yesterday on behalf of the Charter Organisation of New Zealand.

Mr. W. J. Rogers, M.L.C., Mayor of Wanganui, presided. “Our legislators in Parliament today are dwelling on hatreds that are 10 and 20 years old while matters of momentous concern which should be claiming their unified and full attention are being passed by," said Mr. McMillan.

“I go about the country a great deal and during the past five years I venture to say that I nave met thousands of business people,’’ said Mr. McMillan. Respect for iaw and order was going by the board every year, due to a lacK o£ spiritual activity. It one was to go into any town and to walk into ten offices before one had entered the tenth he would have been told about bribery and corruption. One would hear of civil servants accepting bribes and of business men who were prepared to give them ■bribes. He had been told ot a political leader who had sat in a room and given lacts about this bribery and corruption. When asked what he intended to do he had said he had been sworn to silence and could do nothing. "If you were to go from town to town like me you would begin to wonder where this country is going and realise that a new spirit must soon enter our lives.”

Britain was importing 42 per cent, of her food requirements trom the dollar countries and was only exporting to them 14 per cent, of her goods. This 28 per cent, trade gap was one of the gravest economic problems today and Mr. Hugh Dalton had said that if this gap were not ciysed then imports would have to be reduced. There was distress in England and if something was not done that distress would spread to New Zealand. There was no hope of success for the suggestions he was advancing unless the nations of the world were prepared to make a Christian sacrifice.

His suggestion was that both parties should get together and agree to scale down New Zealand's sterling balance, if not altogether at least by £5(1,000,000. When this was done then they could approach the ither Dominions. The four Prime Ministers could then go to President Truman and ask him to make a similar per capita sacrifice. If Britain and the U.S.A, got togethey they could induce India and Egypt and the other nations holding large sterling balances to scale them down. On tne basis of a scaling down by £50,000,000 of New Zealand sterling balance the contribution of the U.S.A, would be 5,000,000,000 dollars. There was a large body of men in the U.S.A, who could see the need for helping Britain and were prepared to act.

It was encumbent on the employers to come out and give a lead but it was a sorry fact that the leaders ot industry were not active. A tremendous campaign should be undertaken to galvanise into action the 95 percent. of the people who were loyal so that they could overcome the troubles which lay ahead. It was encumbent on everyone to lise up and take action in the hope that a body of opinion would arise up behind the movement to restore respect for Jaw and order and to help Great Britain out of her financial difficulties for which a whole generation and later yet another generation of youtli died, said Mr. McMillan in conclusion. The work should be undertaken on the spiritual, economic and political levels.