May be Costly

Tonga's Dollar Hunt May be Costly

rpONGA has recently imported

X American tractors and agri cultural machinery, but as the Kingdom cannot contribute any thing to the sterling area dollar pool, there is doubtless opposition to any liberal allocation of dollars.

The sale of copra to the United States, as Prince Tungi is reported to have proposed while he was in America, would presumably be subject to the approval of the British Ministry of Food, which has long bought all copra exports.

At the current exchange rate and world price of copra, it seems that Tonga would pay dearly for dollars by selling copra well below the British Ministry’s contract price. (Further report on page 54)