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Wednesday, 19 June 1946

Mr CHIFLEY - The Bretton Woods Agreement has been before Cabinet, and has had some consideration. Certain aspects of it were not regarded as completely satisfactory, and it was decided to make a further examination of it, deferring the final decision as to whether or not it should be ratified by Australia. At a later stage a conference was held to provide for the inauguration of the fund, and Cabinet decided to send Mr. Melville, who is associated with the Commonwealth Bank, to the conference as, an observer. Ithas been decided to extend until the 31st December this year the time for joining the organization as an original member. Mr. Melville has now returned to Australia, and has presented his report to the Government. It has not, yet been considered by Cabinet, and L cannot say that it will be considered in the immediate future, but it certainly will come up for consideration later. .

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