FIFTH PERIOD.

Auckland Star, Volume LXXI, Issue 225, 21 September 1940, Page 5

FIFTH PERIOD.

IMPORT LICENSES. SOME INCREASES. SCHEDULES NEXT WEEK. CHRISTCHURCH. this day. "Fifth period import licenses will be issued next week," said the Minister of Finance, the Hon. W. Nash, to-day. "The schedules will provide for increases in soine commodities, and corresponding reductions in other lines, chiefly luxuries."

The Minister added that he had spent the past week in consideration of the schedule. It has been found desirable to make increases in certain lines which were valuable in production, or which were wanted in New Zealand because they were vitally necessary and could not be made here. He could not indicate specifically what type of goods would be affected by the increase. Discussing import control generally, Mr. Nash said that, dne largely to fortuitous circumstances, New Zealand had been able to build up substantial sterling reserves and other overseas credits. Many people believed New Zealand could aid Britain in her war effort by taking more British poods as well as sending more New Zealand products to Britain, but the truth of the matter was that Britain did not want credits in New Zealand. She wanted them in foreign countries, where the credits would do more pood. "I venture to say that nine out of ten people in New Zealand would want the Dominion to send Britain all she wanted, even if Britain could not pay." declared the Minister. "We can help Britain by taking imports of commodities of which she lias a surplus, but Britain certainly does not- want New Zealand to take other products which could be more effectively disposed of in foreign markets." —(Press Assn.)