MOMENTOUS EFFECT.
Banker's Warning Against N.Z. Exchange Increase. FARSIGHTED VIEW. LONDON, July 13. At the National Bank of New Zealand meeting, Sir Austin Harris, who presided, said the attempt to force up exchange for the benefit of producers appeared to disregard the interests of the rest of the community. Indeed, the considered opinion of all other banks was that the temporary depreciation of exchange would be outweighed by the ultimate disadvantages accruing not only to the producers themselves, but to the whole community in the form of increased cost of Government finance, increased cost of imports, rise of internal prices, increased wages, loss of Customs revenue and a lowering of the Dominion's credit.
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https://paperspast.natlib.govt.nz/newspapers/AS19320714.2.75
Bibliographic details
Auckland Star, Volume LXIII, Issue 165, 14 July 1932, Page 7
Word Count
113MOMENTOUS EFFECT. Auckland Star, Volume LXIII, Issue 165, 14 July 1932, Page 7
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