PETROL IMPORTS.
I LIMITATION- BY N.Z. " WELCOMED BY BRITAIN." WELLINGTON Wednesday. " "The inorb the people-of New Zealand deny 'themselves the.;ttse~of: petrol, the; greater ■■ their contribution to the common war effort," said the. High Com-, missioner for the United Kingdom, Sir Harry Batterbee, at the New Zealand . Motor Trade Federation dinner tb'-night, in explaining that the purchase o£ : petrol in -the Netherlands. East Indies- often involves inroads lon' dollar exchange. "I recognise, we all recognise, how important petrol is to trade and industry, and how hampering any restriction on its use must necessarily be," said Sir Harry, "but on the other hand there is no need for me to emphasise the importance of conserving foreign exchange, especially dollars, when every dollar available is required to buy aeroplanes, guns and munitions of all kinds for the defence of those hard-beset people of Great Britain; and, of course, the defence of Great Britain means the defence of New Zealand. "But I often hear the question asked: 'Can we not avoid the use of foreign exchange and obviate the need for such strict economy by buying from the Dutch East Indies? , I think there is some misconception about this. Because the Dutch are our gallant Allies in the. war, people have the thought that Dutch currency is, for practical purposes, the same as sterling. This is not so. AVe have, it is true, an. agreement with the Dutch which fixes.the rate of exchange, but the Netherlands East Indies cannot be regarded for.Hie purposes of exchange as part of the.sterling area, and consequently any purchase in'theNetherlands East Indies gives rise to claims on our foreign.exchange resources. "The purchase of;petrol in'the. Netherlands East Indies may involve, and indeed often'docs ' involve, inroads on dollar exchange,.'•so it. all really comes to the same thing in the end: You cannot buy petrol without the danger of inroads on dollar exchange. "The "co-operation which is being given by New Zealand in the limitation of petrol.imports is most warmly welcomed in the United Kingdom," concluded Sir Harry. . ".An expression of the United Kingdom Government's appreciation has been conveyed to the Dominion Government."—(Press Assn.)' i . —^ review' promised. "WHEN RESERVE ATTAINED. . . WELLINGTON, Wednesday. "On the attainment of a petrol reserve of a certain quantity in New' Zealand, tl»e petrol rationing policy wilL be completely reviewed," said the Minister of Supply,'the Hon. , D. G. Sullivan, at the motor, trade conference dinner tonight.: He told the gathering the quantity of petrol in the country and the reserve" that was the Government's aim, but asked that the figures he not published. : v . ' ;* :■: - : • ;j The Minister assured his hearers the sacrifices rationing had caused the trade to make were necessary, and to the advantage; b£ New Zealand.
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Auckland Star, Volume LXXI, Issue 223, 19 September 1940, Page 16
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450PETROL IMPORTS. Auckland Star, Volume LXXI, Issue 223, 19 September 1940, Page 16
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