EXCHANGE AGREEMENT

Bay of Plenty Beacon, Volume 15, Issue 10, 15 March 1950, Page 4

EXCHANGE AGREEMENT

Sir, —The spiders of Wall Street are spinning a “special web” for New Zealand! The same web (Bretton Woods) but under another name “A Special Exchange Agreement.” This agreement was prepared at the,, Annecy Conference, June 1949 (in accordance with Article IXV of the General Agreement on Tariffs and Trade) which provides that any contracting party which is not a member of the International Monetary Found, i.e. Bretton Woods, “shall become a member of the Fund, or, failing that, enter into a special exchange agreement embodying those obligations required by the Fund (Bretton Woods) Annecy Conference (page 29). The text of this agreement was prepared which contracting parties who are not members of the Fund will be required to sign. In effect, if a country (N.Z.) realising the threat to freedom of Bretton Woods, has refused to sign; it is to be manouevred into undertaking »the obligations of Bretton Woods by signing this special exchange agreement which contains the substantive and operative provisions; of Bretton Woods. New Zealanders, stand fast, it is for you to set up a precedent that will give light to the British Nation. Yours etc., W. BRADSHAW. Whakatane, March 14.