Dear Sir

Bay of Plenty Beacon, Volume 10, Issue 68, 3 January 1947, Page 4

Dear Sir

Letters to the Editor must be clearly written on one side of the paper only and where a nom-de-plume is used the name of the writer must be included for reference purposes. The Editor reserves the right to abridge, amend or letter or letters.

SWISS WATCHES

Sir, —I have reference to an article which appeared in your columns on the 13 th of this month entitled “Watches Frozen in Switzerland.” According to a local jeweller no watches were to be exported, from Switzerland to New Zealand “until such time as an agreement is made between Switzerland and the sterling area countries.” It also states that “Switzerland has ceased to export to the sterling area because she is holding too much sterling and that therefore all the New Zealand import licences are useless.”

This statement is entirely in error. The fact is that the Swiss francs put at the disposal of the sterling countries were used up five months sooner than scheduled. Furthermore, our export to the sterling area has taken such an impetus after the cessation of hostilities, that it has become a severe strain on the foreign exchange situation. Therefore a quota system has been instituted, which should, however, not affect New Zealand because the pre-war figures have been increased by 50 per cent., so that actually more goods would be available than could be imported into New Zealand under the present import licensing system.

Despite a great desire on the part of Switzerland to buy as much as possible from the sterling area, there is little that can be shipped to Switzerland at the present time. We would like to buy large quantities of butter, potatoes and fruit from New Zealand, but it seems that these cannot be shipped to Switzerland under existing agreements. Nevertheless, Switzerland is exporting to the sterling area in. larger amounts than in the three years previous to the war. New Zeaand import licences are perfectly good, and watches as well as other goods will come to this country. Yours etc., E. THEILER. Wellington, 23/12/46.. (We thank our correspondent and stand corrected in our statement which was supplied locally and printed in good faith. Ed.)