HIGHER EXCHANGE.

Auckland Star, Volume LXIII, Issue 276, 21 November 1932, Page 6

HIGHER EXCHANGE.

RELATION TO OTTAWA AGREEMENT.

(To the Editor.)

Will not the proposed artificial raisin, , exchange rates be an infraction of the Ott agreement? It would certainly b e to raising taxes on all imports; and a f exchange of goods was the real base of If Ottawa agreement. As usual, John Ball ■» apparently give performances and <r e t nr nm ; in exchange. The agitators f or h>°4 are farmers mainly and sheep farmers mo»n Cannot these gentlemen see that the ra" • of exchange by checking international S S must inevitably bring about further dr Tne basis of trade is the exchange of for goods, and any check of goods exeW must cause a lessened demand for wool ] other commodities. Consumption is the n 1 means by which materials ' can benefit J that lies in removal of trade* restrictions nf all sorts, and is the purnose of th« nil Conference. It hardly needs pointing out tw the first adverse exchange did not 'ben fit farmers, as wool and other exports im diately found lower levels. Nothing i s certain than any tinkering with money will result in lower levels for our "extort Only increased demand can cause permS ] ' ises - liberal.