EXCHANGE RATE.

Auckland Star, Volume LXIV, Issue 253, 26 October 1933, Page 8

EXCHANGE RATE.

REPORT CHALLENGED.

CHAMBERS OF COMMERCE.

MR. PAISH'S ADVICE.

(By Telegraph.—Press Association.)

WANGANUI, this day.

The Associated Chambers' bf Commerce Conference opened this morning. The Mayor, Mr. N. G. Armstrong, welcomed the delegates, and Mr. J. P. Luke, of Wellington, replied on behalf of tho visitors. The president, Mr. A. S. Burgess (Wanganui), delivered his address. The executive report brought forth discussion, Mr. W. Machin (Canterbury) taking strong exception to the following clause: "Tho action of the Government later in interfering with the rate of exchange evoked throughout the country an expression of disapproval seldom before exhibited. The action was doubly deplorable because the executive of the association, in an endeavour to assist the Government to deal with present-day problems, had a short time before offered the services of a committee of the association to cooperate with the Government." Mr. Machin said that some members did not agree that the action of .the Government in raising, the rate of .exchange was deplorable. Mr. L. A. Paish, His Majesty's Trade Commissioner, referring to the increased exchange in a subsequent address, said he would not express an opinion as to the desirability or otherwise of the Government's action, but he said that New Zealandere should not critiso the Government out of the country. When writing to friends in the Old Country they should tell the "story that the Government was justified in its action, and they should do all they could to improve the relations between the two countries. .