LOST MARKET.
TONGAN BANANAS. OBJECTION TO QUOTA. HIGH EXCHANGE RATE. The adverse rate of exchange between Tonga and New Zealand vras the subject of-comment by the Prime Minister of Tonga this morning. '"We owe you not a penny," he said. . ''Why then should there be • snob a high rate of exchange? We want to continue to trade with New Zealand, which is our natural market. "What we aimed at doing was to send' bananas to New Zealand, and by their sale create a credit in order that we could do general business with you. As soon as we did that a quota was fixed limiting the quantity of banana:that we could send. This time we have sent 4000 cases. That is under the old quota system, and the next shipment will haver to be considerably less, as a new quota has been imposed. This drives our trade to Australia and elsewhere, where there is no adverse exchange rate. "What is happening absolutely cuts us. adrift from New Zealand as .a marked We will be on a much better wicket doing business with -Australia." He added that he intended to make representations to the Government on tho subject during his visit.
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Auckland Star, Volume LXIII, Issue 290, 7 December 1932, Page 5
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200LOST MARKET. Auckland Star, Volume LXIII, Issue 290, 7 December 1932, Page 5
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