THE EXCHANGE PROBLEM.
EAST AND WEST. -Hie gravest problem in our industrial tituation to-day," says the San Francisco Chamber of Commerce paper, "is the fact that on account of favourable exchange we are confronted with the danger of losing the greater part of our European market. This situation is exactly reversed in the Far East, particularly in China. The exchange is as favourable to China ac it is unfavourable to Europe. The opportunity is, therefore, presented by developing Asiatic trade to redress to a large extent the balance disturbed by the unfavourable European exchange. The Chinese pay in silver, and silver exchange is with American gold at a premium (at present a. gold dollar brings only about ninety-five cents in Chinese currency). Jn sending their merchandise to Chinese, America merchants, therefore, receive a rurrency which they can exchange into their own at a very great advantage."
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Auckland Star, Volume LI, Issue 37, 12 February 1920, Page 8
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146THE EXCHANGE PROBLEM. Auckland Star, Volume LI, Issue 37, 12 February 1920, Page 8
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