SIR JOSEPH WARD

Hokitika Guardian, 19 January 1921, Page 1

SIR JOSEPH WARD

REVIEW OF WORLD POSITION. BY TKI, KORA I’ll —PRESS ASSN., COPYRIGHT. AUSTRALIAN AND N.7L CAULK ASSOCIATION. (Received This Day at 9.45 a.m.) LONDON. Jan 18. Sir Joseph Ward addressing; the Australian Natives Association at a luncheon. said countries overseas were deeply interested in the tremendous difficulties the continent was passing through. It was imperative to arrange the world’s exchange rates. There was no use preaching an increase ot exports, if exporters were unable to get money lor their goods, The exchange conditions so far as the Oversea countries were concerned could not he rectified unless the authorities made new provision for finance. All the working articles which the Dominions produced were of first necessity. In order to resuscitate business in Europe, some system should be provided to enable continental countries to pay for these products. 'I hey could not get British or overseas trade right until trade with the continent was restored, They ought not t<> allow light or idle criticism to jeopardise the important part that the League of Nations might play in preventing a recurrence of war. They should agitate to bring every country within its scope, even Russia, when Bolshevism that deadly foe to Labour, had spent its force. Ihe fear of the future led to big naval programmes, with the attendant over burdening of the taxpayers. The sooner the Governments within Europe made up their mind to discontinue control of commerce, and Britain realised that she could not maintain fncititous values and decided to cut the losses, the better, It would also he necessary for overseas welfare, to stop the strangulation of manufacturers by the excess profits tax.