EXCHANGE RATE.
GOVERNMENT'S COST.
OFFICIAL FIGURES; WANTED.
SUGGESTION TO MR. COATES.
The letter from th'd Minister of Finance to the Chamber of Commerce, in which Mr. Coates said, inter alia, "The" Government does not contemplate any further increase in the rate of exchange on London as a matter of economic adjustment, hut, as the world situation is etill obscure, no definite commitment can be made in regard to the future," was read at a meeting, of the chamher's council to-day; "That is practically an admission that the raising of the, exchange rate was not a financial anijl economic necessity," remarked Mr. A. G. Limn. - I
"I think that has always teen realised," eaid Mr. Harvey Turner, chairman.
The letter was received.
Following up previous correspondence en the matter, the chamber decided to send the following letter to Mr. Coates: —"There is considerable uneasiness, and all sorts of wild rumours regarding the Government's liahilities under the Banks Indemnity Act. =We are; sure that the. rumours are largely exaggerated, and we think that if, from time to time, a statement could be published setting forth the Government's liability in this matter, substantial good would result."
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Bibliographic details
Auckland Star, Volume LXIV, Issue 97, 27 April 1933, Page 8
Word Count
193EXCHANGE RATE. Auckland Star, Volume LXIV, Issue 97, 27 April 1933, Page 8
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