WORLD TRADE.

Taranaki Daily News, 20 January 1921, Page 5

WORLD TRADE.

PROBLEM OF EXCHANGE, TRADE WITH THE CONTINENT. RESTORATION DESIRABLE. By Telegraph.—Press Assn.—Copyright. London, Jan. 18. Sir Joseph Ward, addressing the Australian Natives’ Association at a luncheon, said that the countries oversea were deeply interested in the tremendous difficulties that Britain was passing through. It was imperative to arrange the world’s exchange rates. There was no use in preaching an increase in exports if the exporters were unable to get money for their goods. Exchange conditions, so far as the oversea countries were concerned, could not be improved unless the authorities made new provision for financial working. The 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. They could not get British or overseas trade right until trade with the Continent was restored.

They ought not allow light or idle criticism to jeopardise the important part that the League of Nations might play in preventing the recurrence of warThey should agihate to bring evtery country within its scope—even Russia, when Bolshevism, that deadly foe to Labor, had spent its force. Fear of the future had. led. to big naval programmes, with their attendant overburdening of taxpayers. The sooner the Governments within Europe made up their minds to discontinue control of commerce and Britain realised that she could not maintain fictitious values, the better.

It was also necessary for overseas welfare to stop the strangulation of manufacturers by the Eaccess Profits Tax.—-Aus.-N.Z. Cable Assn.