NO PROFITEERING!

Evening Star, Issue 23376, 20 September 1939, Page 2

NO PROFITEERING!

EITHER NATIONAL OR INDIVIDUAL FINANCE MINISTER'S FIRM STATEMENT [From Ouk Parliamentary Reporter.] AVELLINGTON, September 19. " Tho present condition of the nation will not be used either for national profit or for the profit of individuals," stated the Hon. AV. Nash (Minister of Finance), _ when ho was replying to a question in the House by Mr Clyde Carr (Government, Timaru). . Tho questioner suggested that, as tho dollar was now so high in relation to sterling, the Minister should see that in the sales of New Zealand produce allowance was made for any reduction in the value of English currency. He made particular reference to the sales of New Zealand wool to America, and suggested that it should be done on a basis of optional payment in gold, English sterling, or American currency of the value prevailing on August 31. Otherwise the British Government, by receiving payment in American dollars, might make a very handsome profit out of the present depreciated New Zealand and English currencies. The Minister, in giving an assurance that no opportunity would be given for making handsome profits, stated that arrangements were being made to place the full resources of New Zealand at the disposal of the United Kingdom, and an endeavour would be made to arrange some procedure which would avoid anv injustice, either to New Zealand or the United Kingdom.