DEBTS & TRADE

Wairarapa Times-Age, 17 June 1939, Page 7

DEBTS & TRADE

ADDRESS BY MR NASH IN LONDON CONDITIONS OF AGREEMENT INDICATED. FACTOR OF EXPENDITURE ON DEFENCE. By Telegraph—Press Association— Copyright. (Received This Day, 10.5 a.m.) LONDON, June 16. Air W. Nash (New. Zealand finance Minister), addressing the London Chamber of Commerce, said lie wanted to make an agreement with I he British Government to ensure that the proceeds of New Zealand exports, after deduction of debt charges, would be spentin Britain. If New Zealand was not helped if might be neeeessary to ent imports further, which would be harmful to both England and Now Zealand. Mr Nash admitted that there had been a breach of the letter of the Ottawa Agreement, but it was due to the necessity for meeting debt charges. He added: /‘Britain must do her part. She cannot simultaneously have her debt paid and ■ flood New Zealand with goods, especially when Defence expenditure for the current year is up by one to two millions, and may be up by an even greater amount. Mr Nash was accorded a most favourable reception, but the good impression was weakened by subsequent speakers, who contended that it was open to New Zealand to solve her problems as Australia solved hers.