CONSERVATION OF EXCHANGE

Waikato Times, Volume 125, Issue 20992, 20 December 1939, Page 6

CONSERVATION OF EXCHANGE

An urgent appeal for reasonable economy in the consumption of petrol has been made by the Hon. D. G. Sullivan as a means of assisting in the war effort. The inference is that if the public does not act seriously upon that advice the Government may find it necessary to reinstitute some form of rationing. The request has come from the British Government for assistance in an Empire effort to conserve dollar exchange and facilitate the purchase of war supplies from the United States, and in such circumstances the appeal should receive public support. There is apparently no serious shortage of petrol or of the means of transporting it. The conservation of exchange has been made necessary by the American neutrality legislation, which has placed the supply of war materials on a “cash and carry” basis. When Britain or any other country buys aeroplanes or other military equipment from the United States it is necessary to tender the cash immediately and provide the transport. Thus the need for immediately available dollar exchange has become greater. Britain has asked that all the Empire countries should pool their exchange resources to make possible the immediate purchase of large quantities of war materials. The position would have been much simplified were the United States willing to buy as liberally as she sells, but as it is, she has a large favourable balance of trade with many countries, including New Zealand. One aspect of the position emphasised by Mr Sullivan is the wastage of petrol on unnecessary speed. In that respect he will have the enthusiastic support of the Minister of Transport, the Hon. R. Semple, whose responsibility it is to build and maintain roads and make them safe for the travelling public. Moderation in motor speed v/ould not only conserve petrol, but would save the roads from much wear and tear and probably save the lives of many people every year. The matter is largely in the hands of the individual. Restrictions are irksome and will be -unnecessary if the people individually recognise the need and act accordingly.