TRADE & FINANCE

Wairarapa Times-Age, 3 June 1939, Page 7

TRADE & FINANCE

PROBLEMS FOR MR NASH AS SEEN BY THE LONDON ■•TIMES.” EXCHANGE CONTROL. RESENTED. Bv Tek graph—Press Association-Copyright LONDON, .lime 2. "The Times" in a leader on Mr Nash's mission, says that the trade and financial discussions are likely to present difficulties. Many British manufacturers resent the exchange control as a violation of the Ottawa Agreement. They believe it will break down and cause a good deal of mischief. Also they arc not satisfied by Mr Savage's and Mr Nash's assurances that the reduction in trade is not permanent. It is not denied that New Zealand has a right to any economic system she desires, but it is contended she should have a greater regard for the interests and treaty rights of her best customer. The controversy has not improved New Zealand’s credit on the London market, and Mr Nash is likely to find difficulty in negotiating conversion of a £17,000.000 loan on favourable terms, the newspaper adds.

MEETING ARRANGED. DISCUSSION WITH BRITISH MINISTERS. (Received This Day, 9.35 a.m.) LONDON, June 2. Mr. Nash saw the Secretary for the Dominions, Sir Thomas Inskip, and arranged a programme of discussions, including a joint meeting of Ministers connected with defence, trade and finance, early next week. Mr. Nash will spend, the week-end at Birmingham.